The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Solder Flux Market.
It was estimated prior to this unanticipated outbreak that the Solder Flux Market was expected to grow at a CAGR of 5.7% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Flux is a chemical cleaning agent that is used prior to and during the soldering process of electronic components onto circuit boards. It also protects the metal surfaces from oxidation and helps in soldering process by altering the surface tension of the molten solder. Based on the product type, solder flux can be categorized into rosin-based, water soluble, and no-clean. On the basis of industries served, it can be categorized into consumer electronics, automotive, telecommunications, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the product type, the market is segmented as rosin-based, water soluble, and no-clean. The rosin-based segment dominated the market in 2019, and is expected to maintain its position during the forecast period. Rosin-based solder fluxes are non-conductive, hard, and corrosion resistant and hence, holds the largest share of the pie.
Based on the end-use industry type, the solder flux market is segmented as consumer electronics, automotive, telecommunications, and others. Consumer electronics segment held the largest share of the market and is also expected to witness a healthy growth during the forecast period. Increasing demand for technically advanced gadgets such as phone and tablets along with home appliances is the major factor behind the dominance of the consumer electronics segment.
In terms of regions, Asia-Pacific is estimated to be the largest market for solder flux during the forecast period. China, Japan, Taiwan, South Korea and India are the major economies contributing towards the growth and high demand for solder flux in the region. Cheap labor, low cost raw materials, and huge consumer base are the major features of the Asia-Pacific’s solder flux market. North America and Europe are also expected to witness a healthy demand for solder flux during the forecast period.
Some of the major players in the solder flux market are-