NEW YORK, April 15, 2021 /PRNewswire/ -- The global liquid flux market is forecast to exhibit 7% CAGR between 2021 and 2031. As per a study by Fact MR, growth in the global market was stunted temporarily during COVID-19 outbreak. However, sales are expected to recover, thanks to the emergence of new electronic manufacturing companies, digitalization in automotive industries, and implementation of internet of things to boost productivity.
Increasing applications across diverse industries will continue supporting the expansion of the liquid flux market size. Studies indicate that larger manufacturing companies within the electronic sector are likelier to place order in bulk. Besides this, consistently rising demand from industries such as automotive, aerospace & defense, and others will enable the market gain impetus in the coming years.
"There is immense focus on exploring untapped opportunities among liquid flux market players. As they aim for competitive advantage, their focus on strategic collaborations and merger & acquisitions will increase. This will not only help them expand their geographic footprint but will give them opportunity for capacity expansion," said a lead analyst at Fact MR.
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Liquid flux Market – Key Findings
- The alcohol based liquid flux is estimated to account for a dominant share 80% in the market as it remains preferred base for a wide range of applications
- Taiwan emerges as a leading consumer of liquid flux, showcasing moderate growth at 4.6% CAGR between 2021 and 2031
- Demand from China poised to increase, as it emerges as the leading manufacturing hub in the world
- Demand from the U.S. poised to surge as the country aims at achieving self-sufficiency in semiconductor production
- Increasing demand for electronic components to offer better vehicle performance will fuel demand in the automotive sector
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Liquid flux Market – Key Driving Factors
- Digitalization in automotive and defense industries in the form of protection and navigation sensory equipments and implementation of internet of things are key liquid flux market drivers
- Integration of sensory and electronic components for internal supply chain optimization will bolster semiconductor production, in turn driving liquid flux sales
- Introduction of Industrial Internet of things [IIOT] to enhance productivity of various industries are also contributing in driving the liquid flux market growth.
Liquid flux Market – Key Restraints
- High toxicity of Rosin based liquid flux led to the implementation of stringent regulations by Occupational Safety and Health Regulations (OSHA) for its use in a tightly controlled area, which has led to decrease in liquid flux market demand.
- Limited availability of electronic components and high dependence on China for raw material led to decrease in production of electronic products amid pandemic, thus leading to decrease in liquid flux market demand.
Liquid flux Market – Covid-19 Impact
Covid-19 pandemic has adversely affected manufacturing industries especially electronic and automotive industries. Production came to a halt due to shortage of raw material from China, unavailability of workforce and failure of supply chain led to delayed shipments of electronic components. This directly affected the liquid flux market.
On the other hand, rapid technological developments and rising investments in the semiconductor assembly have created new opportunities in the market. The demand is expected to increase as the restrictions and lockdown are slowly lifted in 2021 and beyond.
Fact Mr has profiles some of the leading companies operating in the market. These include Harris Product Group, Canfield technologies, Henkel Adhesives Technologies, Alpha Assembly Solutions, Indium Corporation, AIM Solder, Kester, MG Chemicals, and Warton Metals Ltd. among others.
Market players are primarily focusing on gaining access to new markets with greater potential. They are also focusing on targeted acquisitions in order to broaden their portfolio of products and provide cost effective products.
For instance, in 2019 Element solutions acquired Kester and joined it with Alpha assembly division after acquisition. The acquisition provided the customer with wide range of diversified products as per the specific need of the end industries making them first preference in the market place.
A 12,000 sq.ft manufacturing facility was opened by AIM solder in Malaysia in 2020 with the aim of delivering in house manufactured flux to the target customers in least amount of time for nearby locations.
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About the Report
This 170-page study offers a thorough market assessment on the liquid flux market. The report divulges key insights on the liquid flux market based on base (water-based and alcohol-based), flux (no clean and water soluble), application (SMT assemblies, semiconductor packaging, and rework), and end-use industry (automotive, aerospace & defense, electronics & communication, and recycling) across key regions (North America, Europe, East Asia, South Asia & Oceania, and Rest of the World).
Key Questions Answered in the Report
- How will the global liquid flux market expand through 2021 and beyond?
- Which drivers are expected to underpin the global liquid flux market growth in the future?
- Why are the electronics & communication and automotive industries exhibiting high demand for liquid flux?
- Which region is expected to be the most lucrative global liquid flux market?
- Who are prominent players operating in the global liquid flux market?
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