South Asia & Oceania currently account for a majority of the liquid flux being consumed, followed by East Asia. This is due to the fact that a large number of electronics manufacturers have set up their bases in these regions, especially Taiwan and Vietnam. Emergence of newer electronics manufacturing clusters in developing countries such as India is projected to give impetus to market growth over the coming years.
Increasing electrification of vehicles and the inevitable shift towards remote monitoring and automation are driving a majority of end-use industries to integrate electronics into their operations. This is driving the market for liquid flux, which finds application in the SMT assembly of electronics. Additionally, advent of 5G infrastructure and changing consumer preference towards purchasing advanced electronics products are indirectly providing a boost to market growth.
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Owing to the above mentioned factors, the global liquid flux market is anticipated to expand at a CAGR of over 7% through 2031.
Key Takeaways from Market Study
- The liquid flux market is anticipated to add 2X value by 2031 as compared to 2021.
- No clean liquid flux captures a major chunk equivalent to two-third of the global market share, and is set to create an absolute $ opportunity of around US$ 112 Mn by 2031.
- Among the base types, alcohol-based liquid flux accounted for maximum demand as of 2020, and is set to further gain around 279 BPS in its market share over the next ten years.
- Among the applications, SMT assembly application will account for the highest consumption of liquid flux during the forecast period, and create and absolute $ opportunity of close to US$ 100 Mn by 2031.
- Among the end-use industries, electronics & communication has been the fastest growing, owing to increased electronics manufacturing in the past decade, and the segment is expected to grow 2X in market value by 2031.
- Among the regions considered, South Asia & Oceania is set to dominate market revenue, and is expected to create an absolute $ opportunity of around US$ 94 Mn over the decade.
- Initially, the onset of COVID-19 hurt market growth, which resulted in a growth rate of -2.7% in 2020. However, growth rate projections for 20201 are 4.4%.
- The market in China is projected to expand at a healthy CAGR of close to 9% through 2031, with Taiwan slated at 10.5%.
- Value sales of liquid flux are set to increase at a CAGR of 7.5% in India over the next ten years.
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“Dawn of 5G infrastructure and integration of electronics into businesses will drive demand for liquid flux over the coming years,” says a Fact.MR analyst
Prominent Players Adopting Blend of Organic and Inorganic Growth Strategies
Key players such as Alpha Assembly, Kester, and AIM Solder are emphasizing on targeted expansions, innovative product launches, and acquisitions in the market space to substantially increase their market presence.
For instance, AIM Solder expanded its presence in numerous untapped regions such as Malaysia; the company opened a new manufacturing facility of 12,000 sq. ft. in 2020 to meet demand arising from nearby regions.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global liquid flux market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of base (water-based and alcohol-based [rosin- containing and rosin-free]), flux (no clean and water soluble), application (SMT assemblies [selective soldering and wave soldering), semiconductor packaging, rework, and others), and end-use industry (automotive, aerospace & defence, electronics & communication, recycling, and others), across five major regions of the world (North America, Europe, East Asia, South Asia & Oceania and Rest of World(Latin America, and the Middle East & Africa).
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