Los Angeles, December 3, 2019 –QY Research recently published a research report titled, “Global Solder Resist Ink Market Research Report 2019.” Analysts have assessed the key market drivers along with its factors that are negatively impacting the market growth. Growing demand for solder resist inks in computers, IC packaging, and electronics to protect printed circuit boards from corrosion and short circuit while assembling components is expected to favor the market.
In 2018, the global solder resist ink market was valued at US$548.32 mn and is anticipated to exceed over US$800 mn by 2025, registering a steady CAGR of more than 6% throughout the forecast period of 2019 to 2025.
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The solder resist ink is a permanent protective layer that has a great influence on the printed circuit board. It protects the board from corrosion to improve reliability and performance. It also works in terms of insulation and humidity and high-temperature resistance. The solder resist ink forms a permanent coating of a resin formulation, especially in green color that encapsulates and protects the surface of a printed circuit board to form solder joints.
High Use in Computers and Consumer Electronics Applications Likely To Benefit Market
Global demand for solder resist inks is expected to increase in important applications such as IC packaging, computers, consumer electronics, and communications. Solder resist ink is applied to each side of printed circuit board to protect the copper surface and prevent short circuit during assembly of components.
Additionally, it also prevents solder from causing small bridges and acts as a protective layer to a circuit board. The solder resist ink also helps to protect against corrosion and oxidation to improve the reliability of the board. All these factors are expected to propel the market growth.
Demand for Solder Resist Ink Expected to Increase in UV Curable Solders
Based on the product type, the global solder resist ink market is segmented into UV curable solder resist ink, photoimageable solder resist ink, and thermal curable solder resist ink. The UV curable solder resist ink segment is likely to be the leading segment in the solder resist ink market due to its low toxicity, low volatility, environment-friendly, and fast-drying properties.
Asia Pacific Predicted to Gain the Largest Market Share in Solder Resist Ink
Asia Pacific will lead the global solder resist ink market due to the growing consumer electronics industry and the presence of large manufacturers in this region. China is the largest supplier and the consumption of solder resist ink. North America is also expected to grow the demand for solder resist ink due to advanced technology systems.
Leading Manufacturers Likely to Focus More on Innovative Products in the Coming Years
Some of the manufacturers that are operating in the global solder resist ink market are Hitachi Chemical, TAIYO, Coants Electronic, OTC, TAMURA, Jiangsu Kuangshun, HUNTSMAN, and Shenzhen Rongda.
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