Electronic Board Level Underfill and Encapsulation Material Market - Regional Analysis
APAC Market Forecasts
The electronic board level underfill and encapsulation material market in the Asia Pacific region is poised to hold the largest revenue share of 33% during the time period between 2024 – 2035. The high demand for underfill materials at the electronic circuit board level is due to the expansion of the consumer electronics sector in the region. The increasing demand for consumer electronics has increased the demand for PCBs, which is expected to increase the demand for underfill materials during the forecast period. According to his May 2021 statistics on China.org.cn, Huawei became his second largest manufacturer in China's notebook field in 2020, with a market share of 16.9%. The consumer electronics and consumer electronics sector is similarly expected to double its current market size, reaching a market value of USD 21.18 billion by 2025, according to statistics from India Brand Equity Foundation. Such a massive expansion of the consumer electronics sector in the region is expected to stimulate the increased use of underfill materials at the electronic circuit board level.
North American Market Statistics
The electronic board level underfill and encapsulation material market in the North America region is predicted to grow significantly during the estimated timeframe. Rapid growth in demand for electronics across the country is expected to increase consumption in the country during the forecast period. Americans' high disposable income and per capita spending has created a huge demand for electronic devices such as home automation equipment, smartphones, laptops, and tablets. This is expected to further increase sales of underfill materials at electronic board level during the forecast period. Similarly, increased shipments of electronic products during the evaluation period will provide growth opportunities for major U.S. manufacturers.
