Electronic Board Level Underfill and Encapsulation Material Market Size

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.