Global Underfill Material Market Forecast to Reach US$ 448.3 Mn by 2024

Transparency Market Research has published a new market report titled Underfill Material Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024” According to the report, the underfill material market was valued at US$ 220.4 Mn in 2015 and is forecast to surpass US$ 448.3 Mn by 2024, registering a CAGR of 8.3% between 2016 and 2024.

An exhaustive analysis of the global underfill material market and geographic assessment demonstrates that the demand for underfill material attributed to the growth of the semiconductor industry. Among product type capillary underfill material is high in demand and it is driven by the growth of flip chip packaging. The supplier of the underfill is facing downward pricing pressure and the overall industry is going to witness single digit growth in the forecasted period.

Asia Pacific is expected to be the most promising region in terms of incremental opportunities generating higher revenue and dominate the global underfill material market revenue share with 64.4% in 2016, followed by North America and Europe. APAC is also estimated to be most attractive market for underfill material in terms of value by 2016. In region APAC, China is expected to be the most attractive country for underfill material by the end of forecast period. Taiwan is anticipated to be most attractive country in terms of CAGR during the forecast period and projected for a high growth rate till 2024. South Korea is in heavy competition from China, which is currently competing to become the world leader in this field. Europe and North America are highly regulated and likely to create a demand of underfill material worth over US$ 72.8 Mn in 2016. Latin America and Middle East is on lower side in terms of demand generation for underfill material as compare to other region.

Browse the Press Release :http://www.transparencymarketresearch.com/pressrelease/underfill-material-market.htm

In the region APAC, flip chip is expected to be the most attractive application type by the end of forecast period and among product type it is expected that capillary underfill material account for highest percentage of share.

Asia Pacific is forecast to represent the global underfill material market with CAGR of over 9.7% between 2016 and 2024. All other markets are projected to register less than 9.7% Y-o-Y during the forecast period. Over the next half of decade, Asia Pacific region is expected to provide immense opportunities for underfill producer on the backdrop of semiconductor industry. In terms of opportunity, APAC region is expected to showcase a promising future for underfill material throughout the forecast period.

Some of the key participants in the global underfill material market are Henkel AG & Co. KgaA, H.B. Fuller, NAMICS Corporation, Epoxy Technology Inc, Yincae Advanced Material, LLC, Master Bond Inc, Zymet Inc, AIM Metals & Alloys LP, Won Chemicals Co. Ltd.

The global underfill material market is segmented as follows:

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)

 

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