Report : Ultra-Low Alpha Metals Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (ULA Tin, ULA Tin Alloys, ULA Lead Alloys, ULA Lead-Free Alloys, and Others) and Application (Electronics, Automotive, Medical, Telecommunication, and Others)
According to our latest market study on “Ultra-Low Alpha Metals Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (ULA Tin, ULA Tin Alloys, ULA Lead Alloys, ULA Lead-Free Alloys, and Others) and Application (Electronics, Automotive, Medical, Telecommunication, and Others),” the market was valued at US$ 3,125.00 million in 2020 and is projected to reach US$ 5,461.78 million by 2028; it is expected to grow at a CAGR of 7.4% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
The expanding demand for high density and low power requirements in materials has propelled the concept of reducing the dimensions and operating voltages of modern electronic devices. The constant scaling of complementary metal-oxide-semiconductor device technologies has led to miniaturization and shrinkage in the operating voltage of the device transistors. However, the concept has opened new challenges, both from the technology and materials point of view. One such issue is soft error, the temporary malfunction of the device, which is caused by the radiation of high-energy alpha particles. One of the primary sources of alpha particle radiation is the solders which are significantly deployed for joining components in the packaging. Hence, the growing concern toward the soft error issue has led to an increase in demand for ultra-low alpha metals.
For the past few years, several metals such as lead (Pb), are being extensively used in the production of electronic devices to boost the functionality of such devices. However, the implementation of regulations by government bodies on the use of such unsafe metals in electronic devices has led to increased adoption of substitute metals. As a result, the companies involved in the production of electronic devices have focused their attention on the deployment of ultra-low alpha metals in their devices. Apart from government regulations on the use of toxic substances, the use of heavy metals in electronic products has also been prohibited under the Restriction on Hazardous Substances (RoHS) Directive. Such regulations and policies framed by governments are expected to boost the growth of the ultra-low alpha metals market. Ultra-low alpha metals offer the provision of production based on materials that are free from hazardous substances. Other than this, the availability of different types of ultra-low alpha solders is broadening the scope of choosing alloys depending on the specific purpose. Hence, strict government regulations on the use of hazardous substances in electronic equipment are expected to stimulate the growth of the ultra-low alpha metals market.
A few of the key players operating in the global ultra-low alpha metals market are MITSUBISHI MATERIALS Corporation; Teck Resources Limited; Advanced Manufacturing Services (AMS) Ltd; Pure Technologies; Honeywell International Inc.; DUKSAN Hi-Metal Co., Ltd; and MacDermid Alpha Electronics Solutions. The major market players adopt strategies such as mergers & acquisitions and research & development to increase their geographical presence and consumer base across the world.
Impact of COVID-19 Pandemic on Ultra-Low Alpha Metals Market
The ongoing COVID-19 pandemic has drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the ultra-low alpha metals market. The implementation of measures to combat the spread of the novel coronavirus has aggravated the situation and negatively affected the demand for industrial metals and materials. The operations of industries have been negatively impacted amid the pandemic, which has ultimately negatively impacted the delivery cycle and increased import–export tariff. The sudden distortion in operational efficiencies and disruptions in the value chains are attributed to the sudden closure of national and international boundaries and the temporarily closure of manufacturing bases due to indefinite lockdowns and temporary quarantines, which have negatively impacted the growth of the market during the pandemic. The restrictions on supply chain with volatility in raw material pricing and sourcing due to initial weeks of lockdown have negatively impacted the industrial products and processes. Also, the focus on the just-in-time production is another concerning factor hindering market growth. However, as the economies are planning to revive their operations, the demand for ultra-low alpha metals is expected to rise globally in the coming years. The increasing demand for advanced industrial materials due to the growth of various end-use industries, such as electronics, aerospace & defense, automotive, medical, and telecommunication, is also expected to drive the growth of the market in the coming years. Further, significant investments by prominent manufacturers in the advancement of ultra-low alpha lead-free alloys would fuel the growth of the ultra-low alpha metals market during the forecast period.
The report includes the segmentation of the global Ultra-Low Alpha Metals market as follows:
Based on type, the ultra-low alpha metals market is segmented into ULA tin, ULA tin alloys, ULA lead alloys, ULA lead-free alloys, and others.
Based on application, the ultra-low alpha metals market is segmented into electronics, automotive, medical, telecommunication, and others.
By geography, the ultra-low alpha metals market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). The market in North America is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific ultra-low alpha metals market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in Middle East & Africa (MEA) is subsegmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The South America ultra-low alpha metals market is further segmented into Brazil, Argentina, and the Rest of South America.
Contact Person: Sameer Joshi
Email Id: email@example.com