Soldering in Electronics Assembly Market is expected to reach US$ 2,624.71 million by 2028

Increase in Miniaturization in Electronic Industry to Provide Growth Opportunities for Soldering in Electronics Assembly Market During 2023–2028

According to our latest study on "Soldering in Electronics Assembly Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product," the 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.

Soldering in electronic assembly means joining different types of metals by melting solder. Solder is a metal alloy usually made of tin and lead which is melted using a hot iron. The iron is heated to temperatures above 600°F, which is then cooled to create a strong electrical bond between components. Soldering in electronic assembly is used in various industries such as HVAC/R, aerospace, automotive, oil & gas, mining, electrical & power management, electronics, and pharmaceutical. Thus, rise in these industries propels soldering in electronics assembly market.

Soldering in Electronics Assembly Market — by Region, 2022

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Soldering plays a vital role in strengthening the mechanical and electrical bonds of electronic components and devices. The increase in demand for soldering in electronics assembly market is directly associated with the growth of the electronic industry. Growing urbanization and rising disposable income worldwide contribute to the growth of the consumer electronics market. According to the US Bureau of Economic Analysis, disposable personal income (DPI) in the US increased by 0.5% in February 2023 compared to January 2023. The growth in individuals’ disposable income increases the standard of living that contribute to the strong ability of the consumer to purchase consumer electronics such as television, refrigerator, and microwave. This factor propels the electronic industry in the country, which further fuels soldering in electronics assembly market size.

The rise in government initiatives to boost domestic production output plays a crucial role in driving the electronic industry. According to the Ministry of Electronics & IT in March 2023, the Indian electronics manufacturing industry is expected to reach US$ 300 billion by 2025–2026. Under the National Policy on Electronics 2019 (NPE 2019), special schemes are introduced for large-scale electronics manufacturing. The" Production Linked Incentive Scheme (PLI) for Largescale Electronics Manufacturing," introduced in April 2020, provides a 4–6% incentive to eligible electronic manufacturing companies over their incremental sales year-on-year. In addition, the" Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme" was introduced in April 2020 to provide financial assistance and support to companies planning to open manufacturing facilities in the country. Such initiatives by the government attract global electronic manufacturers to set up units in the country, fueling the growth of the electronic industry, which further propels soldering in electronics assembly market growth.

Soldering is widely used in printed circuit board (PCB) assembly. PCBs are widely used in medical devices, LEDs, consumer electronics, industrial equipment, automotive components, aerospace components, telecommunication equipment, and more. According to India Brand Equity Foundation, electronics production in India was US$ 29 billion in 2014–2015 and rose to US$ 67 billion in 2020–2021. Thus, the growth of the electronics industry contributes to the soldering in electronics assembly market growth.

The soldering in the electronic assembly market is segmented into products and geography. Based on the product, the soldering in the electronic assembly market is segmented into wire, paste, bar, flux, and others.

By geography, the soldering in electronics assembly market size is segmented into five key regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South America. APAC is expected to be the fastest-growing region during the forecast period (2023–2028). In 2022, China led the market owing to the growing presence of leading manufacturers such as Apple, Samsung, and Dell. These companies manufacture phones, integrated electronic circuits, and computer parts and other accessories in the country. A surge in the production of such electronics can positively impact the demand for soldering in electronics fabrication. Hong Kong, China, and the US are among the prominent leaders in electronics production. Currently, APAC is executing more eco-friendly manufacturing techniques to reduce the production of harmful greenhouse gases.

A few major soldering in electronics assembly market players are Lucas-Milhaupt, Inc; GENMA Europe GmbH; S-Bond Technology; Fusion Incorporated.; Indium Corporation; KOKI Company Ltd; SUPERIOR FLUX & MFG. CO.; MacDermid Alpha Electronics Solutions; Nathan Trotter & Co., Inc.; and AIM Metals & Alloys LP, among others.

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