Portland, OR, Oct. 26, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global WLCSP electroless plating market generated $1.77 billion in 2019, and is estimated to reach $2.88 billion by 2027, registering a CAGR of 5.9% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Rise in demand for micro electric devices & circuit miniaturization and growing demand for processors, sensors, and smart electronics across the globe drive the growth of the global WLCSP electroless plating market. However, high initial cost associated with WLCSP electroless plating is anticipated to restrain the growth of the market. Furthermore, growing adoption of WLCSP electroless plating in healthcare and aerospace industries is expected to create new opportunities during the forecast period.
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- Major WLCSP electroless plating manufactrurers across the globe have halted their production activities due to disrupted supply of raw material such as copper, nickel, gold, ceramic, and phosphorus amid the lockdown and ban on import & export activities.
- The demand for WLCSP electroless plating is likely to decline during the Covid-19 pandemic as manufacturers of various electronics components and consumer electronics have halted their production activities amid lockdown.
The report offers a detailed segmentation of the global WLCSP electroless plating market based on type, end-use, and region.
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Based on type, the nickel segment contributed to the largest share in 2019, accounting for more than half of the total share, and is estimated to maintain its dominant position during the forecast period. However, the composites segment is estimated to portray the highest CAGR of 7.3% during the forecast period.
Based on end-use, the electronics segment held the largest share in 2019, holding more than three-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the automotive segment is expected to register the highest CAGR of 8.4% from 2020 to 2027.
Based on region, Asia-Pacific contributed the highest share, accounting for more than two-thirds of the total market share in 2019, and will maintain its dominance throughout the forecast period. In addition, it is expected to grow at the highest CAGR of 6.5% from 2020 to 2027. The research also offers analysis of regions including North America, Europe, and LAMEA.
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Leading market players analyzed in the research include ARC Technologies Inc., Atotech Deutschland GmbH, KC Jones Plating Company, MacDermid Inc., Coventya International, Okuno Chemical Industries Co. Ltd., Nihon Parkerizing Co. Ltd., C. Uyemura & Co. Ltd., Bales Metal Surface Solutions (Bales), and Erie Plating Company.
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