As per FMI, the U.S. is projected to account for a significant share approximately of more than 19.4% in the global electronic board level underfill material market in 2022. Rapid growth in demand for electronic devices across the country is expected to propel the country’s consumption over the forecast period
NEWARK, Del, Sept. 29, 2022 (GLOBE NEWSWIRE) -- The global electronic board-level underfill material market is anticipated to witness opulent growth opportunities with a healthy CAGR of 5.3% between 2022 and 2032. The global market reached US$ 295.9 Mn in 2021 and is expected to touch a valuation of US$ 310.7 Mn in 2022.
In addition to that, the rise in production and utilization of electronic products has led to the overall surge in the market by expected a valuation surpassing US$ 520.7 Mn by the end of 2032. According to the FMI historical analysis, the global electronic board level underfill material market grew at a stagnant CAGR of 3.1% between 2015 and 2021.
Attributing to the surging usage of electronic devices and the ongoing trend of miniaturization and development of multi-feature electronic devices are some of the key factors expected to boost growth in the global electronic board level underfill material market during the forecast period.
Underfill is mostly used to expand and redistribute the thermo-mechanical stress associated with the Coefficient of Thermal Expansion (CTE) mismatch between the silicon chip and organic substrate in order to improve the reliability of a CSP, BGA, or flip chip on an organic board package. A variety of substances are used for the manufacturing of these underfills including epoxy, silica, alumina, silica gel, urethane, and many others.
The electronic industry is one of the most dynamic sectors of the economy and its significant rise has prompted major shifts in funding. The integration of manufacturing networks combined with the electronics sector has proven to be very beneficial to the ASEAN region since they allow for improved commerce with bigger Asian economies like China.
China is a dominant and crucial country for the development of the Asian electronic sector. China is known to acquire raw materials and components from other Asian nations and then ship them all over the globe. The rapid surge in the production of electronics will continue to bolster growth in the global electronic board level underfill material market during the forecast period.
The surging trend of miniaturization of electronic devices led to a rise in the number of components on the printed circuit board. Owing to this fast-growing trend, demand for smaller, thinner, and more highly integrated printed circuit boards (PCBs) that are populated with the flip chip is expected to rise.
Advanced nanotechnology and microelectromechanical systems (MEMS) are rising in functionality along with the acceptance in a majority of applications among various industries, such as consumer electronics and others. The current pace of miniaturization of electronic devices will result in a surge in demand for PCBs in near future.
Miniaturizing several electronic devices including laptops, smartphones, consumer electronics, and many more, has led to an increased usage of underfills materials in encapsulation and cavity filling type applications, therefore elevating growth prospects for the global electronic board level underfill material market.
Electronic Board Level Underfill materials offer mechanical reinforcements to the solder joints and solder balls that join a chip to a printed circuit board. Therefore, they play a key role in extending the thermal aging and lifetime of electronic devices.
Key Companies Profiled
Henkel AG & Co. KGaA
MacDermid Alpha Electronic Solutions
Parker LORD Corporation
H.B. Fuller Company
Hitachi Chemical Co., Ltd.
AI Technology, Inc
Sanyu Rec Co., Ltd.
Epoxy Technology, Inc.
YINCAE Advanced Materials, LLC
More Insights into the Electronic Board Level Underfill Material Market
According to FMI analysis, the U.S. is projected to account for a significant share of the global electronic board level underfill material market by accounting for about 19.4% in 2022. The rapid growth in the country is attributed to consumers’ high disposable income and per capita expenditure.
Owing to the surging expansion of the electronic industry and the presence of product types at a reasonable price point, the electronic board level underfills material market in China is poised to grow at a healthy pace of around 6.2% CAGR during the forecast period.
Read Full Report with TOC @ https://www.futuremarketinsights.com/reports/electronic-circuit-board-level-underfill-material-market
Electronic Board Level Underfill Material Market by Category
By Product Type:
Gob Top Encapsulations
By Material Type:
Quartz / Silicone
By Board Type:
CSP (Chip Scale Package)
BGA (Ball Grid array)
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
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