Report : Ultra-Low Alpha Metals Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (ULA Tin, ULA Tin Alloys, ULA Lead Alloys, ULA Lead-Free Alloys, and Others) and Application (Electronics, Automotive, Medical, Telecommunication, and Others)
The scope of our recent study on the “Ultra-Low Alpha Metals Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (ULA Tin, ULA Tin Alloys, ULA Lead Alloys, ULA Lead-Free Alloys, and Others) and Application (Electronics, Automotive, Medical, Telecommunication, and Others)” comprises the factors fueling market growth, revenue estimation and forecast, and market share analysis along with the identification of significant market players and their key developments.
The ultra-low alpha metals market was valued at US$ 3,125.00 million in 2020 and is projected to reach US$ 5,461.78 million by 2028; it is expected to grow at a CAGR of 7.4% from 2021 to 2028. The expanding demand for high density and low power requirements in materials has propelled the concept of reducing the dimensions and operating voltages of modern electronic devices. The constant scaling of complementary metal-oxide-semiconductor device technologies has led to miniaturization and shrinkage in the operating voltage of the device transistors. However, the concept has opened new challenges, both from the technology and materials point of view. One such issue is soft error, the temporary malfunction of the device, which is caused by the radiation of high-energy alpha particles. One of the primary sources of alpha particle radiation is the solders which are significantly deployed for joining components in the packaging. Hence, the growing concern toward the soft error issue has led to an increase in demand for ultra-low alpha metals.
Based on application, the ultra-low alpha metals market is segmented into electronics, automotive, medical, telecommunication, and others. The electronics segment held the largest market share in 2020. It is imperative to deploy the use of alloys and metals that could hold an ultra-low alpha grade when engaged in electronic applications. The use of ultra-low alpha metals helps to dodge any malfunctioning caused due to soft errors in electronics devices. Additionally, the significant reduction in the size of devices, along with the installation of solder materials close to the sensitive locations in electronic devices, generates the need for ultra-low alpha metals. There is a rise in demand for ultra-low alpha metals in the production of consumer electronics. The miniaturization of the integrated circuit (IC) devices along with the growing use of low alpha solders for microelectronics packaging has generated the demand for ultra-low alpha metals. Additionally, there is a growing demand for ultra-low alpha metals in electric and electronic parts, owing to their lower emission rate than other hazardous materials.
The global ultra-low alpha metals market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. In 2020, Asia Pacific contributed to the largest market share. The market growth in the region is primarily attributed to the presence of strong industrial base with prominent manufactures. High demand for ultra-low alpha metals from applications such as electronics, automotive, and medical backed by the significantly growing end-use industrial bases is stimulating the growth of the ultra-low alpha metals market in the region. In addition, rising investments in the manufacturing sector across economies and robust automotive manufacturing base in Asian economies create lucrative opportunities for the growth of the market in Asia Pacific.
Impact of COVID-19 Pandemic on Ultra-Low Alpha Metals Market
The ongoing COVID-19 pandemic has drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the ultra-low alpha metals market. The implementation of measures to combat the spread of the novel coronavirus has aggravated the situation and negatively affected the demand for industrial metals and materials. The operations of industries have been negatively impacted amid the pandemic, which has ultimately negatively impacted the delivery cycle and increased import–export tariff. The sudden distortion in operational efficiencies and disruptions in the value chains are attributed to the sudden closure of national and international boundaries and the temporarily closure of manufacturing bases due to indefinite lockdowns and temporary quarantines, which have negatively impacted the growth of the market during the pandemic. The restrictions on supply chain with volatility in raw material pricing and sourcing due to initial weeks of lockdown have negatively impacted the industrial products and processes. Also, the focus on the just-in-time production is another concerning factor hindering market growth. However, as the economies are planning to revive their operations, the demand for ultra-low alpha metals is expected to rise globally in the coming years. The increasing demand for advanced industrial materials due to the growth of various end-use industries, such as electronics, aerospace & defense, automotive, medical, and telecommunication, is also expected to drive the growth of the market in the coming years. Further, significant investments by prominent manufacturers in the advancement of ultra-low alpha lead-free alloys would fuel the growth of the ultra-low alpha metals market during the forecast period.
The report includes the segmentation of the global ultra-low alpha metals market as follows:
Based on type, the ultra-low alpha metals market is segmented into ULA tin, ULA tin alloys, ULA lead alloys, ULA lead-free alloys, and others.
Based on application, the ultra-low alpha metals market is segmented into electronics, automotive, medical, telecommunication, and others.
By geography, the ultra-low alpha metals market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). The market in North America is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific ultra-low alpha metals market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in Middle East & Africa (MEA) is subsegmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The South America ultra-low alpha metals market is further segmented into Brazil, Argentina, and the Rest of South America.