Soldering Market Size, Share, Growth, and Industry Analysis, By Type (Soldering pencil, Soldering gun and others), By Application (Circuit boards, Electronics and others) Regional Forecast To 2031

Updated On: 15 April 2024

Soldering Market Report Overview

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The global Soldering market size was USD 1.962 billion in 2022. As per our research, the market is expected to reach USD 2.79 billion in 2031, exhibiting a CAGR of 4.0% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

When two or more metals are melted together and bonded, the process is known as soldering. Next, a filler metal known as solder is inserted into the junction. When compared to the adjacent metal, the filler metal employed in the process has a lower melting point. Nearly all solders contained lead in previous decades, however lead free alloys are now commonly used for electronic and plumbing reasons due to customer worries about the environment and their health.

Electronics, plumbing, building, and metallurgy all employ solder, as well as jewellery, medical equipment, and musical instruments. In plumbing systems, solder primarily offers somewhat durable but reversible connections between copper pipes, as well as joints in sheet metal objects like food.

COVID-19 Impact: increasing price of raw materials Causes Market Distortion

The increasing prices of raw resources caused by the COVID 19 pandemic had an effect on the market. Since the epidemic, the price of tin, a key raw element for lead-free solders, has significantly increased. Due to a lack of personnel, transportation obstacles, and inventories, end-use industries like the automotive and building sectors experienced a decrease in demand for solder supplies. In addition, the outbreak has a negative impact on the business operations of the enterprises, which affects the market as a whole. The Soldering market has been somewhat impacted by this.

LATEST TRENDS

"Emergence of nanoparticle-based product to Boost the Market Growth"

The manufacture of nano-composite solder, which incorporates nanoparticles into regular solder without the use of leas, has gained popularity in recent years. The qualities of the solder alloy or joints can be improved by adding nanoparticles to ordinary solder pastes. In order to create nano-composite solder, nanoparticles with characteristics of minor size and high surface activity are added to the solder matrix. Nanoparticles have been found to greatly increase the solder's wetting properties, strengthen the mechanical performance of the solder junctions, and refine the matrix of the solder. The most common types of nanoparticles include carbon-based nanoparticles, intermetallic particles, metal oxide particles, and metal particles. Thus, a key trend that is opening up potential for the industry to grow is the emergence of nanoparticle-based product. These new developments are mostly to blame for the market's overall growth.

Soldering Market Segmentation

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• By Type

Based on type, the market is classified into pencil, gun and others.

• By Application

Based on application, the market is categorised into Circuit boards, Electronics and others.

DRIVING FACTORS

"Increasing use of hand soldering that Gives the Market Extra boost "

The soldering market is expanding as a result of the rising use of this technique in industries like construction, electronics, and semiconductors. The electrical and electronics market is expected to increase at a high rate throughout the study period as a result of rising global demand for electronics. In addition, growing demand for sophisticated hand soldering is anticipated to open up attractive potential for industry participants over the next few years. As a result, industry growth will be aided during the forecast period by the growing dependence on products. As a result, the growth, and the increasing advance technologies will boost the market. It will contribute to the expansion of the machinery and equipment industry and it will improve the overall Soldering market growth.

"Increasing demand from electronic industry to Encourage Market Expansion"

Electrical lines are joined to devices with electronic solder, and electronic parts are attached to printed circuit boards. Flux, a substance found inside the solder core, assists to enhance the electrical contact and mechanical strength. Lead-free rosin core solder is the most popular form of solder for electronics. Tin and copper alloy is the primary component of this type of solder. Consumer goods, communications, and computers and servers are all part of the electronics market. Different types and forms of electronics solders are required for various electronics goods. A driving force behind the development of PCB and surface mount devices is the growing demand for the shrinking and automation of mobile devices, touch screen displays, and medical electronic systems. As a result, these factors are collectively promoting market expansion, increasing company revenues. As a result, the increasing demand from electronic industry will help the market to boost.

RESTRAINING FACTORS

"High-cost lead-free product to Impede Market Expansion"

The adoption of lead-free products by Japan's electronics industry, along with the implementation of the waste electrical and electronic equipment and restriction of hazardous substances directives in Europe, has resulted in unavoidable expenditures for the global electronics industry. Some producers use silver instead of tin to substitute lead in lead-free products, increasing their cost. Since lead-based solders are more expensive than other alloys, this process is more economical than using lead-free solders. Leaded solder is inexpensive because lead is just one-tenth as expensive as tin. Therefore, the high costs of lead-free solders restrain market expansion. This poses a significant obstacle to market growth during the projection period. This may be a significant issue limiting market expansion. If this problem is fixed, the market will start to grow right away.

Soldering Market Regional Insights

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"North America Dominating the Market Across the Globe"

The market for Soldering in North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the Soldering market share is the growing demand of product in Circuit boards and Electronics industry is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

The analysis covers data on market participants and their positions within the industry. Through appropriate research, mergers, technological development, expanding production facilities, and collaboration, data is being gathered and made available. Information on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more is provided in the study on materials.

List of Market Players Profiled

• Weller (U.S.)
• Hakka (U.S.)
• Aoyue (China)
• Vastar (T.X.)
• Sywon (South Korea)
• Tabigar (Japan)
• X-Tronic (India)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost Soldering market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.