The global
underfill materials market is dominated by two key players viz. Henkel
AG & Co. KGaA and NAMICS Corporation who collectively exercise a virtual
monopoly in the market. They are increasingly wary of expanding their
reach within the market, and are now channeling their resources towards
capturing the markets in the emerging economies. The high level of
consolidation within the market is an intimidating factor for new market
players who have to bear the brunt of overruling competition. However, there
are stupendous unexplored opportunities within this market which can be
exploited by the newly venturing firms. Some of the domains that could reap
benefits for the nascent players include micro-mechanical devices, 3D devices
and systems, and power devices. A trend anticipated to surface in the run for
market share is the introduction of advanced product designs that incur low
costs and hence, broaden profit margins.
A report by TMR estimates that the period from 2016 to 2024
would uplift the market from worth US$236.5 mn in 2016 to a respectably high
worth US$448.3 mn by the end of 2024. The CAGR approximated for this forecast
period comes to 8.3% reflecting the growth stakes of the market. Based on
application, chip scale packaging is expected to outdo other applications
including flip chip and ball grid, and this success of the former owes to the
increased miniaturization in electronic devices. On a geographical footing,
Asia Pacific is expected reign over other regions registering a CAGR of 9.7% in
terms of revenue over the forecast period.
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Advancements in
Electronics to Magnify Market Growth
The miniaturization of electronic devices is an important
parameter that fuels the demand of the underfill materials. Furthermore,
electrical performance is also optimized through the use of underfill
materials, while the densities of interconnected circuits can be enhanced by
employing these materials. These factors have been a prominent driver for the
growth of the global underfill materials market. The progressive demand for smartphones,
tablets, and laptops across the world has been a standpoint of development for
the market. The semiconductor producers have to encompass the dependability of
flip chip packages, which pushes the market for underfill materials. The
various electronic packaging hacks such as thermal cycling, chip footprint, and
solder bumps are inherently reliant on underfill materials, thus, skyrocketing
the market to fruition. The demand for nimble, sturdy and compact circuit
boards for effectuating embeds in consumer gadgets is another prominent factor
contributing to the growth of the market for underfill materials.
High Costs of
Induction Could Alleviate Demand
The expenses incurred by inducting the use of underfill
materials in the framework of various industries are exorbitantly high. There
is a need to harness economical packaging solutions, and the high costs of the
underfill materials ironizes the market. Hence, the market could face severe
obstructions from this end. However, the voluminous usage of these materials in
the semiconductor industry will keep retaining the charm of the market. The
expanding applicability of portable electronic devices in several domains of
national integrity such as military and aerospace is bound soar the market
high. The budget within these mammoth-sized industries is herculean, which is
another factor consolidating the growth prospects of the market.
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