The electronic assembly materials industry is developing rapidly due to the fast-changing consumer lifestyles which are highly reliable on wireless infrastructure including tablets, smartphones, laptops, and other communication devices. Electronic assembly materials are widely used as core elements in a variety of electronic gadgets such as computers, mobile phones, tablets, laptops, LED bulbs, GPS devices, monitors, and TVs. Increasing R&D of advanced and superior performance electronic assembly materials by manufacturers is likely to drive this market.
Electronic materials used in automobiles have significantly increased in number in the last few years and are expected to continue exhibiting the same trend due to the rising demand for energy-efficient, intelligent, comfortable, and safe motor vehicles. The addition of extra functions to automobiles led to an amplified need for advanced electronics and therefore for high-reliability electronic assembly materials. However, displays and touch screens are delivering the kind of competence that was inconceivable a few short years ago. Ultra-thin and light displays and high-performance, quick-reacting, and interactive interfaces are important requirements for electronic devices to gain a competence edge. The high consumption of such devices propels the electronic assembly material market.
Globally, the power semiconductor market is expanding tremendously, supported by innovative technologies that improve the reliability, efficiency, and overall performance of electronic applications. Advancements in innovative technologies affect the market positively, along with the alternative energy, automotive, transportation, telecommunication, and consumer electronics sectors. The automobile industry is developing speedily due to the use of electronic materials to enhance the comfort, safety, and performance of the driving experience. As a result, automobile manufacturers are demanding additional reliability, longer vehicle warranty periods, and improved manufacturing efficiency.
The electronic assembly materials market has been segmented by material type into the following categories: adhesives, paste fluxes, electrically conductive materials, and thermal interface materials. The solder paste fluxes segment is estimated to expand and hold a significant share in the market during the forecast period. In terms of end-user, the electronic assembly materials market has been split into the automotive, consumer & industrial, defense & aerospace, handheld communications & computing, green & portable energy, LED lighting, medical electronics, radio frequency identification (RFID), and wireless data com infrastructure sectors. The automotive segment is predicted to account for a key share in the market.
The global electronic assembly materials market has been distributed geographically over North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is one of the key consumers of electronic assembly materials globally. Emerging markets such as China and India anticipate significant growth in their mass production of electronic appliances, motivating the electronic assembly materials market. Moreover, changing lifestyles and the incorporation of electronic appliances into developing economies also play a part.
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Rapid industrialization & urbanization and the rising spending capacities in Asia Pacific are likely to boost the demand for consumer goods and therefore for electronic assembly materials over the forecast period. Furthermore, the growing demand for wearable electronics gadgets especially among the young population is projected to be a key driver of the market. For instance, in India, the electronic materials development program emphasizes on investing in R&D programs in the field of technology and material science. High demand for the product in the automotive and consumer electronics industries has propelled the electronic assembly materials market in North America and Europe.