ULA Lead-Free Alloys Segment to Dominate South America Ultra-Low Alpha Metals Market during 2021-2028
According to The Insight Partners market research study on “South America Ultra-Low Alpha Metals Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Metal, Application and Country,” is expected to reach US$ 143.69 million by 2028 from US$ 90.62 million in 2021. The market is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The report provides trends prevailing in the South America ultra-low alpha metals market along with the drivers and restraints pertaining to the market growth. Incrementing concerns regarding soft error issue and rising government regulations on the use of heavy and hazardous materials are major factors driving the growth of the South America ultra-low alpha metals market. However, fluctuating prices of raw materials may hinder the growth of South America ultra-low alpha metals market.
In South America, Brazil reported a huge number of COVID-19 cases, which led to the discontinuation of several business operations, including ultra-low alpha metals manufacturing activities. The disruption in the supply chain with volatility in raw material pricing and sourcing in the initial weeks of lockdown has impacted the industrial products and processes. However, as the economies are planning to revive their operations, the demand for ultra-low alpha metals is expected to rise in South America. However, the focus on just-in-time production is another concerning factor hindering market growth. The increasing demand for advanced industrial materials backed by the growth of end-use industries such as electronics, aerospace & defense, automotive, medical, and telecommunication is expected to contribute to the market's growth. Further, significant investments by prominent manufacturers in advancing ultra-low alpha lead-free alloys are expected to drive the ultra-low alpha metals market.
The market for South America ultra-low alpha metals is segmented into type, application and country. Based on metal, the market is segmented into ULA tin, ULA tin alloys, ULA lead alloys, ULA lead-free-alloys and others. In 2020, the ULA lead-free-alloys and others segment held the largest share in South America ultra-low alpha metals market. Based on application, the South America ultra-low alpha metals market is divided into electronics, automotive, medical, telecommunication, and others. The electronics segment is expected to be the fastest growing segment over the forecast period. Based on country, the South America ultra-low alpha metals market is divided into Brazil, Argentina and rest of South America. In 2020, Germany held the largest share in South America ultra-low alpha metals market. Furthermore, in this present scenario of COVID 19 pandemic, the South America ultra-low alpha metals market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the South America countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for ultra-low alpha metals.
Mitsubishi Materials Corporation; Teck Resources Limited; Pure Technologies; Honeywell International Inc. and MacDermid Alpha Electronics Solutions are some of the leading companies in the South America ultra-low alpha metals market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market