Electronic Board Level Underfill and Encapsulation Material Market is estimated to expand at a CAGR of 5.5% by during 2020-2030: PMR

Electronic Board Level Underfill and Encapsulation Material Market is estimated to expand at a CAGR of 5.5% by during 2020-2030: PMR

PR Newswire

NEW YORK, Sept. 14, 2020

NEW YORK, Sept. 14, 2020 /PRNewswire/ -- Rapidly growing demand in Internet infrastructure, wireless devices, and computers, and increasing use of electronics in automobiles is a vital driving factor for the electronic board level underfill and encapsulation material market. The consumer electronics industry has witnessed significant growth in recent years, and this growth is estimated to persist over the coming years, subsequently ascending the demand for electronic board level underfill and encapsulation material.

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As such, the Global Electronic Board Level Underfill and Encapsulation Material Market is estimated to expand at a CAGR of 5.5% by during the forecast period of 2020-2030.

Key Takeaways from Electronic Board Level Underfill and Encapsulation Material Market Study

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"The current pace of miniaturization of electronic devices is anticipated to bolster the demand for underfill material. In this competitive business environment, manufacturing companies are focusing on enhancing their market share and presence by offering innovative products in a short time cycle, at low cost, with improved product quality as well as higher performance," says a PMR analyst.

Market Landscape Continues to Remain Moderately Fragmented

The global electronic board level underfill and encapsulation material market is moderately fragmented at global and regional levels. Tier-1 manufacturers account for more than one-third of the market share. Some leading players included in the report are Henkal AG & Co. KGaA and NAMICS Corporation, ASE Group and MacDermid Alpha Electronic Solutions, H.B. Fuller Company, etc. Manufacturers are determined to improve their market share in the electronic board level underfill and encapsulation material market by means of strategic expansion of production and distribution networks in emerging countries across the Asia Pacific region.

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Electronic Board Level Underfill and Encapsulation Material Market: Conclusion

Demand for electronic board level underfill and encapsulation material has grown over the years, owing to substantial growth in the demand from electronic devices such as laptops, smartphones, consumer electronics, and many more. The market is occupied by a number of manufacturers. Regions such East Asia and North America hold major shares of the global market. Also, cumulative demand from applications in automotive components is further anticipated to grow in the coming future, catalyzing the growth of the electronic board level underfill and encapsulation material market.

Want to Know More?

Persistence Market Research has published a market research report on the electronic board level underfill and encapsulation material market that contains global industry analysis of 2015–2019 and opportunity assessment for 2020–2030. The report provides in-depth analysis of the electronic board level underfill and encapsulation material market through different segments, namely, product type, material, board type, and region. The electronic board level underfill and encapsulation material market report also provides supply and demand trends, along with an overview of the parent market.

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