Electronic Board Level Underfill And Encapsulation Material Market
Global Market Study on Electronic Board Level Underfill and Encapsulation Material: Rapid Growth of Electronics Industry Fuelling Demand
Electronic Board Level underfill and encapsulation material market is segmented by type of product that is No flow Underfill, Capillary Underfill, Molded Underfill, Wafer level Underfill and by application CSP (Chip scale packaging ), BGA ( Ball Grid array ), Flip Chips. By product type - Underfills, Glob top Encapsulations.
Electronic board level underfill and encapsulation material is used for making and assembling components on printed circuit boards that are used in various electronic equipment such as mobiles, tablets, laptops, consumer electronics, etc.
The electronics industry has witnessed tremendous growth in recent years, owing to increasing traction for the demand for smartphones and wireless equipment. In addition, growth in the integration of electronic components in automotive as well as medical equipment will propelling the demand for electronic board level underfill and encapsulation material over the coming years.
As such, the expansion of the electronic board level underfill and encapsulation material market size is projected to witness a significantly upward trend during the forecast period of 2020 to 2030.
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- Namics Corporation
- AI Technology, Inc.
- Protavic International
- H.B. Fuller Company
- ASE Group
- Hitachi Chemical Co., Ltd.
- Indium Corporation
- YINCAE Advanced Materials, LLC
- LORD Corporation
- Sanyu Rec Co., Ltd.
- The Dow Chemical Company
- Epoxy Technology, Inc.
- Panasonic Corporation
- Dymax Corporation
- ELANTAS GmbH
Electronic Board Level Underfill and Encapsulation Material Market Trends
Increasing Prominence of Electronic Component Miniaturization: Miniaturization of electronic devices has led to an increase in the number of components on printed circuit boards. This growing trend has enhanced the demand for smaller, thinner, and more highly integrated Printed Circuit Board (PCBs) that are populated with flip chip technology.
This nanotechnology and micro electromechanical systems (MEMS) are growing in functionality as well as 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 the demand for PCBs in the near future.
Miniaturization of electronic devices such as laptops, smartphones, consumer electronics, and many more has led to increased usage of underfill material in encapsulation and cavity filling type applications. This, in turn, is expected to augment the growth of the electronic board level underfill and encapsulation material market.
Growing Investments in Electronic Manufacturing Creates Striking Opportunities for Market: The electronics industry is an extensive economic sector that covers advanced technologies in the productive, industrial, and consumer goods market.
The electronics and electrical industry is a flourishing and diversified sector, which is promptly growing owing to inventions of novel technologies coupled with customers inclining toward electronic devices and services. Rapid surge in the growth of the electronics industry has led to a dramatic rise in investments in the electronics manufacturing industry.
Nowadays, the electrical and electronics industry is experiencing remarkable changes due to continuous research & development investments, which has led to augmented production capacity as well as higher value-added products. All this is boding well for the progress of the global electronic board level underfill and encapsulation material market.
Expanding Consumer Electronics Market: Consumer electronics is not only a rapidly growing market but also one of the comprehensive market spaces. With tablets, smartphones, and other devices getting updated on a rapid time scale, consumers are always on the lookout for new and innovative products.
Thus, the electronics industry today mainly develops components and system solutions for various business areas, which will continue and create investment opportunities for various players in the market. Moreover, consumers, on an average, spend a considerable amount on smartphones.
This is attributable to increasing disposal income in developed and developing countries. The launch of new generation smartphones will also drive the electronic board level underfill and encapsulation material market.
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Regional Outlook of Electronic Board Level Underfill and Encapsulation Material Market
In terms of regional distribution, global demand is dominated by East Asia, which accounted for nearly one-fourth of the electronic board level underfill and encapsulation material market share in 2019.
The region is projected to continue to be the most significant demand center for electronic board level underfill and encapsulation material throughout the forecast period. Further, the region is dominant on not just the demand front, but also on the supply front, with China and Taiwan accounting for a bulk of global production capacity.
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Manufacturers’ Focus: Expansion of Global Production and Supply Network
The global Electronic board level underfill and encapsulation material market is a highly competitive space. In order to gain maximum customers, manufacturers are expanding their footprints across the world. Also, continuing efforts are being made to further improve the cost and performance parameters of different applications.
Manufacturers are focusing on expansion of their production and distribution networks in the Asia Pacific region, owing to the prevalence of a large number of electronic component manufacturers in the region.
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COVID-19 Impact on Electronic Board Level Underfill and Encapsulation Material Market
The COVID-19 pandemic led to widespread operational disruptions in major production hubs of the electronics industry, such as China, Japan, and South Korea. This impeded the steady growth of the electronic board level underfill and encapsulation material market.
However, recovery has been comparatively quick in these regions as compared to others, which will allow the market to gradually get back to its normal growth trajectory.
Growth of the electronic board level underfill and encapsulation material market is largely driven by demand in smartphones, Internet infrastructure, wireless devices, computers, and increasing use of electronics in automobiles. Growth of consumer electronics over the past years has been remarkable, and this growth is estimated to persist over the forecast period too. This, in turn, will set the path for market growth over the coming years.
Key Segments of Electronic Board Level Underfill and Encapsulation Material Market
PMR’s study on the electronic board level underfill and encapsulation material market is divided into four significant segments - product type, material, board type, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s Electronic Board Level Underfill and Encapsulation Material Market Report
- Which region is anticipated to hold a prominent market share over the forecast period?
- What will be the key driving factors propelling the demand for electronic board level underfill and encapsulation material during the forecast period?
- How current trends will impact the electronic board level underfill and encapsulation material market?
- Who are significant market participants in the Electronic board level underfill and encapsulation material market?
- What are the crucial strategies of prominent players in the electronic board level underfill and encapsulation material market to upscale their positions in this landscape?