Electronic Board Level Underfill and Encapsulation Material Market size was valued at USD 344.31 million in 2024 and is likely to reach USD 665.51 million by the end of 2037, expanding at around 5.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of electronic board level underfill and encapsulation material is assessed at USD 358.63 million. In addition to helping to connect the circuit board to the wire and providing impact resistance against falls or sudden temperature changes, electronic circuit board level underfill and encapsulation materials are an integral part of smartphones. With growing production to meet consumer demand for new and fresh models, the demand for mobile phones is accelerating around the world. For example, according to data from the Consumer Technology Association in October 2020, sales of smartphones will increase by 2022, with 76% of all mobile phones having 5G capability.
As electronic devices become smaller, the number of components on a circuit board increases. This evolving trend is driving demand for thinner, smaller, and more highly integrated circuit boards featuring flip-chip technology. Nanotechnology and microelectromechanical systems are gaining capabilities and acceptance in a variety of industries, including consumer electronics and others. The need for printed circuit boards (PCBs) will increase in the upcoming years due to the present pace of electronic devices shrinking. The utilization of Underfill materials in encapsulation and cavity-filling applications has increased due to the shrinking of electronic devices such as laptops, cellphones, and other consumer electronics products. Consequently, it is anticipated that the demand for electronic board level underfill and encapsulation materials will grow.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.2% |
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Base Year Market Size |
USD 344.31 million |
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Forecast Year Market Size |
USD 665.51 million |
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Regional Synopsis |
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Material Type (Quartz/Silicone, Alumina Based, Epoxy Based, Urethane Based, Acrylic Based)
In terms of material type, epoxy polymer segment in the electronic board level underfill and encapsulation material market is anticipated to hold the highest CAGR by the end of 2037. Epoxy polymer-based underfill increases product reliability and provides excellent adhesion to a variety of substrates. In addition, these underfills have excellent resistance to various mechanical and thermal shocks, allowing electronic products to function normally even under large fluctuations in ambient temperature. These diverse properties have led to the increasing use of epoxy polymer-based electronic circuit board-level underfills in the market.
Board Type (CSP, BGA, Flip Chips)
Based on board type, the flip chip segment is set to dominate the electronic board level underfill and encapsulation material market with a share of 40% during the projected period. Electronic circuit board level underfill and encapsulation material is widely used in flip chip applications, where underfill increases the durability of flip chip assemblies and increases the reliability of both electrical connections and physical contact. Rising demand for miniaturization of electronic devices has led to an increase in flip-chip applications and is expected to drive market growth during the estimated period. For example, according to his August 2021 issue of the Journal of the American Society of Mechanical Engineers, with the rapid development of the microelectronics industry, flip-chip applications are widely used in microelectronic packages and devices.
Our in-depth analysis of the global electronic board level underfill and encapsulation material market includes the following segments:
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Product Type |
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Material Type |
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Board Type |
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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 – 2037. 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.
Author Credits: Rajrani Baghel
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