Report : North America Ultra-Low Alpha Metals Market Forecast to 2028 - COVID-19 Impact and Regional 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)
Electronics Segment to Dominate North America Ultra-Low Alpha Metals Market during 2021-2028
According to a new market research study on “North America Ultra-Low Alpha Metals Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Metal, Application and Country,” is expected to reach US$ 1,178.12 million by 2028 from US$ 734.77 million in 2021. The market is estimated to grow at a CAGR of 7.0% from 2021 to 2028. The report provides trends prevailing in the North America ultra-low alpha metals market along with the drivers and restraints pertaining to the market growth. Rise in concerns towards soft error issue and stringent government regulations on the use of heavy and hazardous materials are major factors driving the growth of the North America ultra-low alpha metals market. However, fluctuating prices of raw materials may hinder the growth of North America ultra-low alpha metals market.
In North America, the US reported a huge number of COVID-19 cases, which led to the discontinuation of several business operations, including ultra-low alpha metals manufacturing activities. The disruption in the supply chain with volatility in raw material pricing and sourcing in the initial weeks of lockdown has impacted the industrial products and processes. However, as the economies are planning to revive their operations, the demand for ultra-low alpha metals is expected to rise in North America. However, the focus on just-in-time production is another concerning factor hindering market growth. The increasing demand for advanced industrial materials backed by the growth of end-use industries such as electronics, aerospace & defense, automotive, medical, and telecommunication is expected to contribute to the market's growth. Further, significant investments by prominent manufacturers in advancing ultra-low alpha lead-free alloys are expected to drive the ultra-low alpha metals market.
The market for North America ultra-low alpha metals is segmented into type, application and country. Based on metal, the market is segmented into ULA tin, ULA tin alloys, ULA lead alloys, ULA lead-free-alloys and others. In 2020, the ULA lead-free-alloys and others segment held the largest share in North America ultra-low alpha metals market. Based on application, the North America ultra-low alpha metals market is divided into electronics, automotive, medical, telecommunication, and others. The electronics segment is expected to be the fastest growing segment over the forecast period. Based on country, the North America ultra-low alpha metals market is divided into US, Canada and Mexico. In 2020, US held the largest share in North America ultra-low alpha metals market. Furthermore, in this present scenario of COVID 19 pandemic, the North America ultra-low alpha metals market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the North America countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for ultra-low alpha metals.
Mitsubishi Materials Corporation; Teck Resources Limited; Pure Technologies; Honeywell International Inc. and MacDermid Alpha Electronics Solutions are some of the leading companies in the North America ultra-low alpha metals market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.