New York, Sept. 15, 2023 (GLOBE NEWSWIRE) -- Electronic board-level underfill and encapsulating material sales were projected to reach a value of around US$ 310.7 million by the end of 2022. The market is projected to develop at a 5.1% CAGR and reach US$ 526.3 million in value by 2033.
The Electronic Board Level Underfill and Encapsulation Material Market is witnessing substantial growth driven by the expanding electronics industry, increasing demand for miniaturized devices, and the need for enhanced reliability and durability of electronic components.
Electronic board level underfill and encapsulation materials play a crucial role in protecting electronic components from mechanical stresses, environmental factors, and thermal cycling. This report provides a comprehensive analysis of the global market for these materials.
The Electronic Board Level Underfill and Encapsulation Material Market are experiencing robust growth, primarily due to the proliferation of electronic devices across industries such as consumer electronics, automotive, aerospace, and telecommunications. These materials enhance the reliability and performance of electronic assemblies.
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Market Dynamics:
Growth Drivers:
- Expanding Electronics Industry: The continuous growth of the electronics sector, including the production of smaller and more complex devices, drives the demand for advanced underfill and encapsulation materials.
- Miniaturization Trend: The trend toward smaller, lightweight electronic devices necessitates materials that can protect and support miniature components effectively.
- Increasing Demand for Reliability: Industries like automotive and aerospace require high-reliability components, making underfill and encapsulation materials essential.
Challenges:
- Cost Constraints: High-quality materials can be expensive, which can pose challenges for manufacturers seeking cost-effective solutions.
- Technological Complexity: Developing materials that can meet stringent requirements and standards can be technically challenging.
- Environmental Concerns: Regulatory pressure to use environmentally friendly materials can affect material selection.
Emerging Trends:
- High Thermal Conductivity Materials: The development of materials with superior thermal conductivity is gaining importance, especially for applications in high-power electronics.
- Flexible and Stretchable Materials: The demand for materials that can withstand bending and stretching is growing, driven by wearable and flexible electronics.
- Environmentally Friendly Formulations: Companies are focusing on eco-friendly materials to align with sustainability goals.
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Market Segmentation:
- By Product Type: Underfills, Capillary, Edge Bonds, Gob Top Encapsulations
- By Material Type: Quartz/Silicone, Alumina Based, Epoxy Based, Urethane Based, Acrylic Based, Others
- By Board Type: CSP (Chip Scale Package), BGA (Ball Grid array), Flip Chips
Regional Analysis:
North America is a significant market for electronic board level underfill and encapsulation materials, driven by the presence of a robust electronics manufacturing industry.
Europe is another prominent market for these materials, with countries like Germany, the UK, and France playing a key role. The European market is driven by the automotive and industrial sectors, which require advanced electronics packaging materials for durability and reliability.
The Asia-Pacific region, led by China, Japan, South Korea, and Taiwan, is a hotbed for electronics manufacturing. The rapid growth of consumer electronics, telecommunications, and automotive industries in this region fuels the demand for high-performance underfill and encapsulation materials. China's dominance in electronics manufacturing and its focus on technological innovation contribute significantly to the market's growth.
Competitive Landscape:
At the level of the electronic board, there is a lot of competition in the market for underfill and encapsulating materials. Manufacturers are enlarging their global footprints to connect with as many consumers as possible. There are also continuous initiatives to improve the cost and performance standards for diverse applications. Manufacturers are focussing on growing their production and distribution networks in the Asia Pacific area because of the region's availability of electronic component manufacturers.
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Key players in the Electronic Board Level Underfill and Encapsulation Material Market include Henkel AG and Co. KGaA, Namics Corporation, ASE Group, MacDermid Alpha Electronic Solutions, Parker LORD Corporation, H.B. Fuller Company, The Dow Chemical Company, ELANTAS GmbH, Zymet, Hitachi Chemical Co., Ltd., Panasonic Corporation, AI Technology, Inc., Indium Corporation, Sanyu Rec Co., Ltd., Dymax Corporation, Epoxy Technology, Inc., Protavic International, YINCAE Advanced Materials, LLC
Recent Developments:
- In order to improve customer support globally, Parker Lord Corporation and Brightwater United Aero Group formed a strategic collaboration in May 2020.
- In June 2020, Dymax Corporation launched Multi Cure -9037-F, a printed circuit board assembly encapsulation.
- In February 2017, Zymet revealed a unique edge bond adhesive for CSP (Chip Scale Packaging) that promises improved dependability in collaboration with Portland State University and Cisco.
Future Outlook:
The Electronic Board Level Underfill and Encapsulation Material Market are expected to continue growing due to the increasing reliance on electronics in various sectors. Innovations in materials and technologies will further drive market expansion.
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