Underfill Market: Introduction
Transparency Market Research delivers key insights for the underfill market in its published report, which includes global industry analysis, size, share, growth, trends, and forecast for 2019–2027. In terms of revenue, the global underfill market is projected to register a CAGR of ~9% during the forecast period.
Asia Pacific Underfill Market to Register Double Digit Growth over Forecast Period
The Asia Pacific region is a highly lucrative market for players offering underfill material, as it is a noteworthy manufacturing hub. The growing interest in smartphones and automotive MCUs boosts the growth of the underfill market in this region, as the manufacturers of the above mentioned products account for a substantial demand for underfill materials. China is projected to cross US$ 100 Mn by 2021 in the underfill market. This growth can be attributed to the increased support of Chinese Government in the development of the semiconductor industry in the last few years. According to Chinese Semiconductor industry Association (CSIA), high imports of integrated circuit valued over $300 Bn were recorded in 2018. All these factors contribute to the high demand for underfill material over the forecast period of 2019-2027.
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New Entrants to Use Eclectic Approaches in Underfill Market
The microelectronic industry is governed by more complex devices, due to the trending system on chip (SOC) and system in package (SIP). The trends in portable end use market are driving the global underfill material market growth. New companies that strive to penetrate the underfill market are trying to develop processes or materials that guarantee a good output at a reduced cost to establish their presence in the market. If new entrants are well-funded, they can opt for more modern approaches, and try to develop underfill materials and plans that can be used to save overall production cost.
In the flip chip packaging of low-k devices, underfill choice is extremely crucial. Companies are introducing underfill materials that offer better properties for leading edge semiconductors that use low-k inner layer dielectric materials for wafer fabrication. This helps companies to meet the rising demand for underfill material and capture a larger market share. The interference of key suppliers in the underfill market is low, thereby enhancing the scope of growth for small & regional players in the market.