WLCSP Electroless Plating Market to Reach $2.88 Billion, Globally, by 2027 at 5.9% CAGR: Allied Market Research

WLCSP Electroless Plating Market to Reach $2.88 Billion, Globally, by 2027 at 5.9% CAGR: Allied Market Research

PR Newswire

PORTLAND, Oregon, May 14, 2020

Growing need for micro electric devices and circuit miniaturization and surge in demand for WLCSP electroless plating against traditional plating due to better shielding properties drive the global WLCSP electroless plating market

PORTLAND, Oregon, May 14, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "WLCSP Electroless Plating Market By End-Use (Automotive, Electronics, Aerospace, Machinery, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027". According to the report, the global WLCSP electroless plating industry garnered $1.77 billion in 2019, and is estimated to reach $2.88 billion by 2027, registering a CAGR of 5.9% from 2020 to 2027.

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Drivers, Restraints, and Opportunities

Growing need for micro electric devices and circuit miniaturization, surge in demand for WLCSP electroless plating against traditional plating due to better shielding properties, and cost-effectiveness of WLCSP electroless plating drive the global WLCSP electroless plating market. However, fluctuating raw material prices and sluggish growth of the semiconductor industry restrain the market growth. On the other hand, growing demand for WLCSP electroless plating from the healthcare industry and aerospace verticals create new opportunities in the coming years.

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COVID-19 Scenario

The Electronics Segment to Maintain Its Leadership Status in terms of Revenue throughout the Forecast Period

Based on end use, the electronics segment accounted for more than three-fifths of the total share of the global WLCSP electroless plating market in 2019, and is expected to maintain its leadership status in terms of revenue throughout the forecast period. This is attributed to the growing need for advanced packaging in the electronics industry. However, the automotive segment is estimated to generate the fastest CAGR of 8.4% from 2020 to 2027. This is due to surge in adoption of advanced driver-assistance systems (ADAS), electrification of vehicles, and growing demand for microcontrollers in the automotive industry.

The Nickel Segment to Maintain Its Leadership Position during the Forecast Period

Based on type, the nickel segment accounted for more than half of the total share of the global WLCSP electroless plating market in 2019. This is attributed to the properties of electroless nickel plating for WLCSP such as corrosion resistance, chemical purity, ductility, water resistance, chemical hardness, which is useful for the protection of automotive and aerospace components. However, the composites segment is estimated to generate the fastest CAGR of 7.3% from 2020 to 2027. This is attributed to the benefits of electroless composites plating for WLCSP such as thermal advantages, electrical conductivity, tensile strength, hardness, durability, and conductivity, which makes it a suitable component for use in electronic components.

Asia-Pacific, Followed By Europe, to Maintain Its Dominant By 2027

Based on region, Asia-Pacific, followed by Europe, accounted for the highest share based on revenue, holding for more than two-thirds of the total share of the global WLCSP electroless plating market in 2019, and is projected to maintain its dominant position throughout the forecast period. In addition, Asia-Pacific is estimated to portray the fastest CAGR of 6.5% from 2020 to 2027. This is attributed to the availability of high-end enhanced technologies, increase in demand for smart electronics, and growth in manufacturing industries across the region.

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