Most successful semiconductor and electronics producers have established their business in countries of Asia Pacific. Hence, companies in the underfill market are now exploring untapped opportunities in North America and Europe to broaden their scope for new revenue streams. On the other hand, manufacturers are increasing their focus on next-gen high-reliability electronics applications. For instance, in April 2019, leading chemical and consumer goods company Henkel AG announced the launch of its new silicone-free underfill material that can be used in electric vehicles (EVs). The growing adoption of electric vehicles and the ever-increasing automotive industry are generating incremental opportunities for manufacturers in the underfill market.
Moreover, leading players are collaborating with online distribution platforms to increase the uptake of underfill materials. Uniform and void-free encapsulating underfill are being highly publicized to maximize a device’s temperature cycling capability. Manufacturers are increasing R&D to develop fast curing underfill that provide essential interconnect protection from shock, drop or vibration.
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Innovative underfill materials are helping companies to gain global recognition. As such, top five players continue to account for ~70-75% of the underfill market. Leading players are increasingly participating in trade events to tie up with potential partners. Companies in the underfill market are initiatives to deliver products that are reliable, prioritize sustainability, and enhance the performance of next-gen electronic devices and systems. Manufacturers are working closely with practicing engineers that are capable of developing cost-effective and innovative underfill materials.
Moreover, manufacturers are increasing their research efforts to develop underfill materials that offer reliable device protection, even in challenging conditions. They are increasing their production capabilities to develop underfill that protects fine-pitch array devices with the help of highly filled formulations that adapt to exceptionally advanced glass transition temperatures.
The demand for embedded systems is projected to grow in the coming years. This trend has led to the demand for compact-sized components, unmatched reliability, and their ability to withstand harsh conditions. All these factors contribute to the growth of the underfill market, which is expected to reach a revenue of ~US$ 600 Mn by the end of 2027.
Manufacturers in the underfill market are offering various options to its stakeholders to increase the reliability of their final-product embedded systems. For instance, Transcend Information, Inc.— a leading manufacturer of industrial-grade products, is offering corner bond and underfill materials to stakeholders dealing in embedded products to enhance the product’s reliability under high vibratory stress or high gravitational acceleration.
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Ongoing investments in developing cutting-edge technologies and innovations in embedded-use flash and DRAM products are generating revenue streams for manufacturers. Underfill materials are being pervasively used in ball grid array-based storage such as in handheld devices that must pass drop or tumble tests. This is evident since ball grid array application segment is estimated to account for the third-highest revenue in the market for underfill.
Companies in the underfill market are tapping into incremental opportunities to develop pre-applied underfill materials that support collective bonding processes. This trend has led to exponential growth of the underfill market, which is anticipated to reach an output of ~1,180 tons by the end of 2027.
However, proliferation of IoT in various 5G applications leads to barriers in semiconductor packaging technologies. For instance, the flip chip bonding technology is required for the development of ultrafine-pitch products such as graphic, network, and AI processors. In order to achieve this, companies are adopting thermal compression bonding (TCB) with the help of pre-applied underfill materials. However, the scarcity of underfill materials such as nonconductive paste or nonconductive film has led to high process cost. Hence, there is a need for reasonable TCB costing to support the expansion of IoT in 5G applications. There is a growing need to maximize the production of underfill materials to support multiple die bonding processes.
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Analysts’ Viewpoint
The underfill market is estimated to expand at a CAGR of ~9% during the forecast period. Apart from Asia Pacific and North America, companies are exploring untapped opportunities in Latin America and Middle East & Africa to broaden their scope of future revenue opportunities.
Multiple die bonding processes are boosting the proliferation of IoT in 5G applications. However, conventional underfill materials pose difficulty in multiple bonding processes due to a mismatch between reactivities of materials. Hence, manufacturers should innovate in new underfill materials such as nonconductive paste or nonconductive films that offer thermal stability and electrical insulation. They should explore opportunities in high-performance electronics applications for aerospace and automotive sectors.
Underfill Market - Segmentation
The global underfill market has been divided on the basis of material, application, and region. Each of these segments has been analyzed in detail to provide readers with a holistic view of the industry.
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1. Executive Summary
2. Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
2.3. Semiconductor (Parent) Market Overview
3. Underfill Material Market Analysis Scenario
3.1. Pricing Analysis
3.1.1. Pricing Assumption
3.1.2. Cost to Produce Analysis
3.1.3. Price Projections By Region
3.1.4. Pricing Trends
3.2. Market Size (US$ Mn) and Forecast
3.2.1. Market Size and Y-o-Y Growth
3.2.2. Absolute $ Opportunity
3.3. Market Overview
3.3.1. Value Chain Analysis
3.3.2. Supply Demand Analysis
3.3.3. Profitability Margins
3.3.4. Key Developments and Future Outlook
3.3.5. Key Dispensing Applications Outlook
3.3.6. Manufacturing Process
3.3.7. List of Active Participants
3.3.7.1. Raw Material Suppliers
3.3.7.2. Manufacturers
3.3.7.3. Distributors / Retailers
3.4. Product – Cost Teardown Analysis
4. Market Dynamics
4.1. Macro-economic Factors
4.2. Drivers
4.2.1. Supply Side
4.2.2. Demand Side
4.3. Restraints
4.4. Market Opportunity
4.5. Forecast Factors – Relevance and Impact
5. Global Underfill Material Market Analysis and Forecast, By Material Type
5.1. Introduction
5.1.1. Basis Point Share (BPS) Analysis By Material Type
5.1.2. Y-o-Y Growth Projections By Material Type
5.2. Market Size (US$ Mn) and Volume (Units) Forecast By Material Type
5.2.1. Capillary Underfill Material (CUF)
5.2.2. No Flow Underfill Material (NUF)
5.2.3. Molded Underfill Material (MUF)
5.3. Market Attractiveness Analysis By Material Type
5.4. Prominent Trends
6. Global Underfill Material Market Analysis and Forecast, By Application
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis By Application
6.1.2. Y-o-Y Growth Projections By Application
6.2. Market Size (US$ Mn) and Volume (Units) Forecast By Application
6.2.1. Flip Chips
6.2.2. Ball Grid Array (BGA)
6.2.3. Chip Scale Packaging (CSP)
6.3. Market Attractiveness Analysis By Application
6.4. Prominent Trends
7. Global Underfill Material Market Analysis and Forecast, By Region
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis By Region
7.1.2. Y-o-Y Growth Projections By Region
7.2. Market Size (US$ Mn) and Volume (Units) Forecast By Region
7.2.1. North America
7.2.2. Europe
7.2.3. Asia Pacific
7.2.4. Latin America
7.2.5. Middle East and Africa (MEA)
7.3. Market Attractiveness Analysis By Region
8. North America Underfill Material Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis By Country
8.1.2. Y-o-Y Growth Projections By Country
8.1.3. Key Regulations
8.2. Market Size (US$ Mn) and Volume (Units) Forecast By Country
8.2.1. U.S.
8.2.2. Canada
8.3. Market Size (US$ Mn) and Volume (Units) Forecast By Material Type
8.3.1. Capillary Underfill Material (CUF)
8.3.2. No Flow Underfill Material (NUF)
8.3.3. Molded Underfill Material (MUF)
8.4. Market Size (US$ Mn) and Volume (Units) Forecast By Application
8.4.1. Flip Chips
8.4.2. Ball Grid Array (BGA)
8.4.3. Chip Scale Packaging (CSP)
8.5. Market Attractiveness Analysis
8.5.1. By Country
8.5.2. By Product
8.5.3. By Application
8.6. Prominent Trends
8.7. Drivers and Restraints: Impact Analysis
9. Latin America Underfill Material Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis By Country
9.1.2. Y-o-Y Growth Projections By Country
9.1.3. Key Regulations
9.2. Market Size (US$ Mn) and Volume (Units) Forecast By Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Market Size (US$ Mn) and Volume (Units) Forecast By Material Type
9.3.1. Capillary Underfill Material (CUF)
9.3.2. No Flow Underfill Material (NUF)
9.3.3. Molded Underfill Material (MUF)
9.4. Market Size (US$ Mn) and Volume (Units) Forecast By Application
9.4.1. Flip Chips
9.4.2. Ball Grid Array (BGA)
9.4.3. Chip Scale Packaging (CSP)
9.5. Market Attractiveness Analysis
9.5.1. By Country
9.5.2. By Product
9.5.3. By Application
9.6. Prominent Trends
9.7. Drivers and Restraints: Impact Analysis
10. Europe Underfill Material Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis By Country
10.1.2. Y-o-Y Growth Projections By Country
10.1.3. Key Regulations
10.2. Market Size (US$ Mn) and Volume (Units) Forecast By Country
10.2.1. Germany
10.2.2. Spain
10.2.3. Italy
10.2.4. France
10.2.5. U.K.
10.2.6. BENELUX
10.2.7. Russia
10.2.8. Rest of Europe
10.3. Market Size (US$ Mn) and Volume (Units) Forecast By Material Type
10.3.1. Capillary Underfill Material (CUF)
10.3.2. No Flow Underfill Material (NUF)
10.3.3. Molded Underfill Material (MUF)
10.4. Market Size (US$ Mn) and Volume (Units) Forecast By Application
10.4.1. Flip Chips
10.4.2. Ball Grid Array (BGA)
10.4.3. Chip Scale Packaging (CSP)
10.5. Market Attractiveness Analysis
10.5.1. By Country
10.5.2. By Product
10.5.3. By Application
10.6. Prominent Trends
10.7. Drivers and Restraints: Impact Analysis
11. Asia Pacific Underfill Material Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis By Country
11.1.2. Y-o-Y Growth Projections By Country
11.1.3. Key Regulations
11.2. Market Size (US$ Mn) and Volume (Units) Forecast By Country
11.2.1. China
11.2.2. India
11.2.3. Japan
11.2.4. Korea
11.2.5. ASEAN
11.2.6. Australia and New Zealand
11.2.7. Rest of APAC
11.3. Market Size (US$ Mn) and Volume (Units) Forecast By Material Type
11.3.1. Capillary Underfill Material (CUF)
11.3.2. No Flow Underfill Material (NUF)
11.3.3. Molded Underfill Material (MUF)
11.4. Market Size (US$ Mn) and Volume (Units) Forecast By Application
11.4.1. Flip Chips
11.4.2. Ball Grid Array (BGA)
11.4.3. Chip Scale Packaging (CSP)
11.5. Market Attractiveness Analysis
11.5.1. By Country
11.5.2. By Product
11.5.3. By Application
11.6. Prominent Trends
11.7. Drivers and Restraints: Impact Analysis
12. Middle East And Africa (MEA) Underfill Material Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis By Country
12.1.2. Y-o-Y Growth Projections By Country
12.1.3. Key Regulations
12.2. Market Size (US$ Mn) and Volume (Units) Forecast By Country
12.2.1. North Africa
12.2.2. South Africa
12.2.3. GCC countries
12.2.4. Rest of MEA
12.3. Market Size (US$ Mn) and Volume (Units) Forecast By Material Type
12.3.1. Capillary Underfill Material (CUF)
12.3.2. No Flow Underfill Material (NUF)
12.3.3. Molded Underfill Material (MUF)
12.4. Market Size (US$ Mn) and Volume (Units) Forecast By Application
12.4.1. Flip Chips
12.4.2. Ball Grid Array (BGA)
12.4.3. Chip Scale Packaging (CSP)
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Product
12.5.3. By Application
12.6. Prominent Trends
12.7. Drivers and Restraints: Impact Analysis
13. White Space Analysis (Market Potential)
13.1. Underfill Market Analysis – TAM and SAM, By Region
13.1.1. Market Opportunity Analysis
13.2. List of Potential Customers, By Region
14. Competitive Landscape
14.1. Competition Dashboard
14.2. List of Key Suppliers/Distributors, By Region
14.3. Company Market Share and Relative Positioning Analysis , 2018
14.4. Company Profiles (Details – c)
14.5. Global Players
14.5.1. Henkel AG & Co. KGaA
14.5.1.1. Overview
14.5.1.2. Manufacturing Base
14.5.1.3. Financials
14.5.1.4. Strategy
14.5.1.5. Recent Developments
14.5.2. NAMICS Corporation
14.5.2.1. Overview
14.5.2.2. Manufacturing Base
14.5.2.3. Financials
14.5.2.4. Strategy
14.5.2.5. Recent Developments
14.5.3. Nordson Corporation
14.5.3.1. Overview
14.5.3.2. Manufacturing Base
14.5.3.3. Financials
14.5.3.4. Strategy
14.5.3.5. Recent Developments
14.5.4. H.B Fuller
14.5.4.1. Overview
14.5.4.2. Manufacturing Base
14.5.4.3. Financials
14.5.4.4. Strategy
14.5.4.5. Recent Developments
14.5.5. Panasonic Corporation
14.5.5.1. Overview
14.5.5.2. Manufacturing Base
14.5.5.3. Financials
14.5.5.4. Strategy
14.5.5.5. Recent Developments
14.5.6. Epoxy Technology Inc.
14.5.6.1. Overview
14.5.6.2. Manufacturing Base
14.5.6.3. Financials
14.5.6.4. Strategy
14.5.6.5. Recent Developments
14.5.7. Yincae Advanced Material, LLC
14.5.7.1. Overview
14.5.7.2. Manufacturing Base
14.5.7.3. Financials
14.5.7.4. Strategy
14.5.7.5. Recent Developments
14.5.8. Master Bond Inc.
14.5.8.1. Overview
14.5.8.2. Manufacturing Base
14.5.8.3. Financials
14.5.8.4. Strategy
14.5.8.5. Recent Developments
14.5.9. Zymet Inc.
14.5.9.1. Overview
14.5.9.2. Manufacturing Base
14.5.9.3. Financials
14.5.9.4. Strategy
14.5.9.5. Recent Developments
14.5.10. AIM Metals & Alloys LP
14.5.10.1. Overview
14.5.10.2. Manufacturing Base
14.5.10.3. Financials
14.5.10.4. Strategy
14.5.10.5. Recent Developments
14.5.11. Won Chemicals Co. Ltd.
14.5.11.1. Overview
14.5.11.2. Manufacturing Base
14.5.11.3. Financials
14.5.11.4. Strategy
14.5.11.5. Recent Developments
14.5.12. Bondline Electronic Adhesives, Inc.
14.5.12.1. Overview
14.5.12.2. Manufacturing Base
14.5.12.3. Financials
14.5.12.4. Strategy
14.5.12.5. Recent Developments
15. Assumptions and Acronyms Used
16. Research Methodology
List of Tables
Table 01: Global Underfill Market Volume (Tons) 2014H-2027F, by Material
Table 02: Global Underfill Market Value (US$ Mn) 2014H-2027F, by Material
Table 03: Global Underfill Market Volume (Tons) 2014H-2027F, by Application
Table 04: Global Underfill Market Value (US$ Mn) 2014H-2027F, by Application
Table 05: Global Underfill Market Volume (Tons) 2014H-2027F, by Region
Table 06: Global Underfill Market Value (US$ Mn) 2014H-2027F, by Region
Table 07: North America Underfill Market Value (US$ Mn) 2014H-2027F, by Material, Application & Country
Table 08: North America Underfill Market Volume (Tons) 2014H-2027F, by Material, Application & Country
Table 09: Latin America Underfill Market Value (US$ Mn) 2014H-2027F, by Material, Application & Country
Table 10: Latin America Underfill Market Volume (Tons) 2014H-2027F, by Material, Application & Country
Table 11: Europe Underfill Market Value (US$ Mn) 2014H-2027F, by Material, Application & Country
Table 12: Europe Underfill Market Volume (Tons) 2014H-2027F, by Material, Application & Country
Table 13: APAC Underfill Market Value (US$ Mn) 2014H-2027F, by Material, Application & Country
Table 14: APAC Underfill Market Volume (Tons) 2014H-2027F, by Material, Application & Country
Table 15: MEA Underfill Market Value (US$ Mn) 2014H-2027F, by Material, Application & Country
Table 16: MEA Underfill Market Volume (Tons) 2014H-2027F, by Material, Application & Country
List of Figures
Figure 01: Global Underfill Market Share Analysis, by Material, 2019 (E) – 2027 (F)
Figure 02: Global Underfill Market Attractiveness Index, by Material (2019 – 2027)
Figure 03: Global Underfill Market Share Analysis, by Application, 2019 (E) – 2027 (F)
Figure 04: Global Underfill Market Attractiveness Index, by Application (2019 – 2027)
Figure 05: Global Underfill Market Share Analysis, by Region, 2019 (E) – 2027 (F)
Figure 06: Global Underfill Market Attractiveness Index, by Region (2019 – 2027)
Figure 07: North America Underfill Market Share Analysis, by Material Type, 2019 (E) – 2027 (F)
Figure 09: North America Underfill Market Share Analysis, by Material, 2019 (E) – 2027 (F)
Figure 08: North America Underfill Market Attractiveness Index, by Application (2019 – 2027)
Figure 10: North America Underfill Market Attractiveness Index, by Application (2019 – 2027)
Figure 11: Latin America Underfill Market Share Analysis, by Material Type, 2019 (E) – 2027 (F)
Figure 13: Latin America Underfill Market Share Analysis, by Material, 2019 (E) – 2027 (F)
Figure 12: Latin America Underfill Market Attractiveness Index, by Application (2019 – 2027)
Figure 14: Latin America Underfill Market Attractiveness Index, by Application (2019 – 2027)
Figure 15: Europe Underfill Market Share Analysis, by Material Type, 2019 (E) – 2027 (F)
Figure 17: Europe Underfill Market Share Analysis, by Material, 2019 (E) – 2027 (F)
Figure 16: Europe Underfill Market Attractiveness Index, by Application (2019 – 2027)
Figure 18: Europe Underfill Market Attractiveness Index, by Application (2019 – 2027)
Figure 19: APAC Underfill Market Share Analysis, by Material Type, 2019 (E) – 2027 (F)
Figure 21: APAC Underfill Market Share Analysis, by Material, 2019 (E) – 2027 (F)
Figure 20: APAC Underfill Market Attractiveness Index, by Application (2019 – 2027)
Figure 22: APAC Underfill Market Attractiveness Index, by Application (2019 – 2027)
Figure 23: MEA Underfill Market Share Analysis, by Material Type, 2019 (E) – 2027 (F)
Figure 25: MEA Underfill Market Share Analysis, by Material, 2019 (E) – 2027 (F)
Figure 24: MEA Underfill Market Attractiveness Index, by Application (2019 – 2027)
Figure 26: MEA Underfill Market Attractiveness Index, by Application (2019 – 2027)
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Underfill Market
