Soldering in Electronics Assembly Market Size Report – Global Forecasts 2028

Soldering in Electronics Assembly Market Forecast to 2028 - Global Analysis By Product (Wire, Paste, Bar, Flux, and Others)

Publication Month : Apr 2023

  • Report Code : TIPRE00029876
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 119
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[Research Report] The soldering in electronics assembly market is expected to grow from US$ 2,001.96 million in 2023 to US$ 2,624.71 million by 2028; it is estimated to register a CAGR of 5.6% from 2023 to 2028.

The miniaturization of electronic components plays an important role in the electronic industry. It helps save space so that additional parts or technology can be integrated, or the overall size of consumer electronics, medical devices, automobiles, and more can be reduced. For instance, the reduced size of batteries helps with computer miniaturization. Moreover, miniaturization helps save the cost of the overall material used. For the miniature components, less material is used for the soldering, which helps to save the cost on the material used compared to normal-size components or devices. Such benefits of miniaturization are fueling the demand for this technique in the electronics market. Moreover, the demand for solder pastes with smaller metal particle sizes for miniaturization propels the soldering in electronics assembly market growth. France-based INVENTEC provides Ecorel Free JP32 and Ecorel Free HT 235-16LVD solder paste, which can be used in miniaturization for ultra-fine pitch electronics manufacturing applications. The company is developing more solder paste products due to the growing demand for miniaturization. Thus, an increase in miniaturization in the electronic industry is expected to provide growth opportunities for the soldering in electronics assembly market.

Soldering in Electronics Assembly Market -

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Soldering in Electronics Assembly Market: Strategic Insights

Market Size Value inUS$ 2,001.96 million in 2023
Market Size Value byUS$ 2,624.71 million by 2028
Growth rateCAGR of 5.6% from 2023 to 2028
Forecast Period2023-2028
Base Year2023
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Impact of COVID-19 Pandemic on Soldering in Electronics Assembly Market

The COVID-19 pandemic caused disruptions in manufacturing sectors, impacting every process, from supply chain and operations to capital spending, loans, and long-term strategies. The pandemic disrupted exports of parts and interrupted large-scale manufacturing. According to United Nations Conference on Trade and Development (UNCTAD), global foreign direct investment (FDI) collapsed by 42% in 2020 compared to 2019. The prices of tin and lead surged during the pandemic, leading to a decline in demand for soldering products. On the other hand, the demand for medical devices such as pacemakers, defibrillators, neurostimulators, ultrasound machines, and infusion pumps increased due to the pandemic. In addition, the work-from-home culture and online schooling are a few factors that boosted the demand for laptops and mobiles during the pandemic. For instance, Lenovo registered significant financials in the second quarter of 2020 due to the adoption of the work-from-home model; it increased by 7% on a year-on-year basis. Therefore, the COVID impact has negatively caused disruptions in the business of soldering in electronics assembly market.

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Market Insights – Soldering in Electronics Assembly Market

Over the years, China and India have significantly increased their investment to develop their manufacturing sector. These countries have also started initiatives such as Made in China 2025 and Make in India to promote local manufacturing. Additionally, the presence of cheap labor is propelling the rapid development of the manufacturing sector in India and China, making these countries hubs for producing consumer electronics and electronic components such as PCBs, sensors, hard disks, and motherboards. Additionally, the rise in investment by global companies across industries such as medical device manufacturing, electronics, and automotive to set up their production plant across the region is further expected to contribute to the APAC soldering in electronics assembly market growth in the coming years.

Product Insights

Based on product, the soldering in electronics assembly market size is segmented into wire, paste, flux, bar, and others. The wire segment accounted for the largest market share in 2022. Solder wires are available in a range of thicknesses, types, and soldering methods. Manual soldering wire, laser soldering, and automated iron soldering are among the commonly used soldering methods. Based on composition, leaded and lead-free solder wires are available in the market. Lead-free solder wires are used in most applications to comply with RoHS Directive. The lead-free solder wire has strong wetting properties as it contains 3% silver. The silver-free soldering wire saves the operational cost of electronic assembly.

The flux-cored solder wire is used in various processes, including automated and robotic soldering. The CW-818 flux cored wire manufactured by Indium Corporation provides fast wetting speed to minimize cycle times in manual and robotic soldering processes; this wire exhibits heat resistance and low spatter properties of the core flux, thereby providing better assemblies for manual and robotics soldering processes.

The global soldering in electronics assembly market size is segmented based on product. Based on product, the market is segmented into wire, paste, flux, bar, and others. By region, the soldering in electronics assembly market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

GENMA Europe GmbH, Indium Corporation, Fusion Incorporated, AIM Metals & Alloys LP, and MacDermid Alpha Electronics Solutions are among the key soldering in electronics assembly market players operating worldwide.

Electronics Assembly Market by Product

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The soldering in electronics assembly market players are mainly focused on the development of advanced and efficient products.

  • In 2021, Electronics manufacturing services provider “Foxconn Technology Group” and semiconductor company “MediaTek” announced a collaboration to develop new 5G solutions for smart manufacturing and Industry 4.0 applications. This collaboration could lead to new advancements in the soldering electronics industry.
  • In 2020, Soldering equipment manufacturer “Metcal” partnered with electronics distributor “Farnell” to expand its product offerings and reach new customers in Europe.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered


Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Taiwan, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

Which countries are registering a high growth rate during the forecast period?

The US, the UK, India, the UAE, Brazil are the countries registering high growth rate during the forecast period.

Which is the fastest growing regional market during the forecast period?

APAC is the fastest-growing regional market in the global soldering in electronics assembly market between 2023-2028.

What are the driving factors impacting the global soldering in electronics assembly market?

The key driving factors impacting soldering in electronics assembly market growth includes:
• Growth of Electronic Industry
• New Product Developments

Based on product segment, which is the leading method in the soldering in electronics assembly market?

The wire segment led the global soldering in electronics assembly market in 2022.

What is the estimated global market size for the soldering in electronics assembly market in 2023?

The global soldering in electronics assembly market was valued at US$ 2,001.96 Mn in 2023

Which are the key players holding the major market share of soldering in electronics assembly market?

The key players of soldering in electronics assembly market are encompassed with GENMA Europe GmbH, Indium Corporation, Fusion Incorporated, AIM Metals & Alloys LP, and MacDermid Alpha Electronics Solutions.

The List of Companies - Soldering in Electronics Assembly Market

  1. Lucas-Milhaupt, Inc
  2. GENMA Europe GmbH
  3. S-Bond Technology
  4. Fusion Incorporated
  5. Indium Corporation
  6. KOKI Company Ltd
  8. MacDermid Alpha Electronics Solutions
  9. Nathan Trotter & Co., Inc.
  10. AIM Metals & Alloys LP

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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