The solder materials market share will post an incremental growth of USD 840.63 million, progressing at a CAGR of 3.77% during the forecast period. The increasing number of electronic components in vehicles will offer immense growth opportunities to market vendors. The market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on the “Solder Materials Market” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 3690.93 Million.
Browse Technavio's 158-page report and in-depth TOC on "Solder Materials Market by product (wire, bar, paste, flux, and others), end-user (consumer electronics, automotive, industrial, building, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America)."
View detailed Table of Contents Here: https://www.technavio.com/report/solder-materials-market-analysis
The solder materials market is segmented by product (wire, bar, paste, flux, and others), end-user (consumer electronics, automotive, industrial, building, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
The growth of the solder materials market size in the wire segment will be significant during the forecast period. The increase in the number of vehicles also leads to a higher requirement for maintenance and repair services, driving the demand for solder wires.
APAC is estimated to contribute 33% to the growth of the global market during the forecast period. Additionally, owing to the growing urban population in APAC, several governments and public-private partnership (PPP) projects targeted toward the development of public infrastructure and utility infrastructure have been initiated in the region.
The increasing number of electronic components in vehicles will directly influence the sales of the solder materials market. In addition, the increasing adoption of automated solutions for soldering is one of the major solder materials market trends that will positively impact market growth. However, factors such as the volatility in raw material prices will hamper the solder materials market growth.
The market is fragmented due to the presence of several players. Some of the major solder materials market vendors are Belmont Metals Inc., Deoksan Hi Metal, Element Solutions Inc., Fusion Inc., GENMA Europe GmbH, Handy and Harman Manufacturing Singapore Pte. Ltd., Harima Chemicals Group Inc., Indium Corp., INVENTEC PERFORMANCE CHEMICALS SAS, KOKI Co. Ltd., Qualitek International Inc., Senju Metal Industry Co. Ltd., STANNOL GMBH and Co. KG, Tamura Corp., Warton Metals Ltd., Digi Key Corp., Fakhri Metals, Saru Silver Alloy Pvt. Ltd., Superior Flux and Mfg. Co., and Waytek Inc.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2023-2027.
CAGR of the solder materials market forecast during 2023-2027.
Market-level data on units, average selling prices, and values of the solder materials market share.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the solder materials market.
Solder materials industry growth across APAC, North America, Europe, Middle East and Africa, and South America.