Underfill Materials Market to be Worth US$448.3 Million by the end of 2024; Booming Electronic Industry Fuels Uptake of Underfill Materials, Says TMR

ALBANY, New York, November 18, 2016 /PRNewswire/ --

Transparency Market Research has released a new market report titled "Underfill Material Market (Product - Capillary Underfill Material (CUF), No Flow Underfill Material (NUF), and Molded Underfill Material (MUF); Application - Flip Chips, Ball Grid Array (BGA), and Chip Scale Packaging (CSP)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024".

According to the report, the global sales of underfill materials are estimated to amount to US$236.5 mn by the end of 2016 and will reach US$448.3 mn by 2024 at a CAGR of over 8.3% therein. The growth of this market is mainly dependent on the development of the semiconductor industry.

Download PDF Sample Brochure for Market insights at http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=16868

Capillary Underfill Materials to Exhibit Strong Growth through 2024 

On the basis of application, the underfill materials market is segmented into flip chips, ball grid array, and chip scale packaging. Accounting for a 52.6% share in 2016, flip chips are estimated to take the lead throughout the forecast period. Based on product type, the global market for underfill materials is classified into capillary underfill material (CUF), no-flow underfill material (NUF), and molded underfill material (MUF). Among these, capillary underfill materials are projected to exhibit a high growth rate through 2024.

From a geographical viewpoint, the global underfill materials market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Asia Pacific is forecast to witness tremendous growth, reporting a CAGR of 9.7% in terms of revenue from 2016 to 2024. The region is also projected to dominate the global market with a revenue share of 64.4% by the end of 2016.

Growing Applications of Underfill Materials in Military and Aerospace 

One of the most significant factors fueling the demand for underfill materials is the substantial demand for portable electronic equipment across most developed countries. "Consumers have been seeking lighter, more compact, and faster components for portable devices with high functionality and this is only achieved through the use of underfill materials," the author of the report states. These materials not only boost the device's thermal cycling resistance, but also provides impact resistance, strength, and improves its overall reliability. With the soaring demand for and usage of tablets and smartphones, the market for underfill materials is set to grow at a rapid pace.

Browse Regional PR: http://www.europlat.org/global-underfill-material-market.htm

The demand for underfill materials also stems from the automotive and military and aerospace sectors, TMR notes. Expanding budgets in the military and aerospace industry have given rise to the demand for portable electronics with greater functionality and the ability to withstand various forms of stress. In the automotive industry, underfill materials are used to improve the reliability of thermal cycling board levels and solder joints.

On the flip side, with end users seeking low-cost packaging solutions, the profit margins for underfill material suppliers is diminishing. This is threatening to hamper the growth of the global market. However, vendors across the supply chain are looking to collaborate with other players so as to maintain the momentum of the development of new and innovative materials.

The structure of the global underfill materials market in extremely consolidated, with Henkel AG & Co. KGaA and NAMICS Corporation dominating the scene with a massive 81% share in 2015. Shifting the focus from mature to emerging markets is perhaps one of the most successful growth strategies adopted by these players.

The market for underfill materials holds immense promise for new entrants, Transparency Market Research finds. "With sufficient finances, these players can choose to develop materials through non-traditional approaches and save production cost and at the same time enjoy good margins by keeping the material cost high," the lead analyst states. Several new players have been venturing into areas still unexplored by leading companies, such as 3D systems, power devices, and micro mechanical devices.

This review is based on the findings of a TMR report titled "Underfill Material Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."

The global underfill material market is segmented below: 

By Product Type 

• Capillary Underfill Material (CUF)
• No Flow Underfill Material (NUF)
• Molded Underfill Material (MUF)

By Application 

• Flip Chips
• Ball Grid Array (BGA)
• Chip Scale Packaging (CSP)

By Region 

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)

Recent Research Reports by TMR: 

• Cap Applicators Market: 

http://www.transparencymarketresearch.com/cap-applicators-market.html

• Stretch and Shrink Film Market: 

http://www.transparencymarketresearch.com/stretch-shrink-film-market.html

About Us 

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR's syndicated reports strive to provide clients to serve their overall research requirement.

US Office Contact
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com
Google+: https://plus.google.com/+Transparencymarketresearch