Global underfill material market is expected to grow at a compound annual growth rate of XX% over the period 2019 to 2024 to reach a market size of US$XX billion by 2024 from US$XX billion in 2018. Simultaneously, the estimated volume of Underfill material is expected to increase from XX metric tonnes in 2018 to XX metric tonnes in 2024. Underfill material refers to the material used for the encapsulation process to protect and package chip scales, ball grid arrays, flip chip packages, etc. Underfill materials are employed to increase resistance, strength and reliability in the semiconductor industry by being exploited as a filler. The rising demand for consumer electronics such as smartphones, laptops, etc. is projected to drive the demand Underfill material during the forecast period. Furthermore, the growing application of electronics in various industries such as military, automotive, etc. is further expected to drive the demand for Underfill materials in the coming years. The emerging use IoT as well as artificial intelligence globally is further estimated to drive the demand for Underfill material market. Additionally, the Asia-Pacific region is anticipated to significantly augment during the forecast period owing to the increasing use of these materials in the region. The North American region is envisaged to hold a noteworthy share of the market due to the early adoption of using these materials in the region.
Rising demand for electronics across various industries
Growing demand for highly efficient, low cost, small sized devices
Availability of substitutes
In February 2018, Panasonic Corporation announced that its subsidiary Panasonic Industrial Devices Materials (Shanghai) Co., Ltd. (PIDMSH) will start manufacturing high volumes of molded underfill materials for advanced semiconductor packages in March 2018
The major players profiled in the Underfill material market include Won Chemical .co.Ltd, Henkel AG & Co. KGaA, AIM Metals & Alloys LP, Master Bond Inc., Zymet., Yincae Advanced Materials, LLC, Epoxy Technology, Inc., H.B. Fuller Company., Nordson Corporation, NAMICS Corporation, Hitachi Chemical Co., Shin-Etsu Chemical Co., Ltd., Panacol-Elosol GmbH, LORD Corporation., Bondline Electronic Adhesives, Inc., Panasonic Industrial Devices Materials (Shanghai) Co., Ltd.
The Underfill material market has been analyzed through the following segments:
No Flow Underfill Material
Capillary Underfill Material
Molded Underfill Material
By Industry Vertical
Aerospace and Defense
Chip Scale Packaging
Ball Grid Array
Middle East and Africa