The global ultra-low alpha metals market has registered a progressive growth rate in 2017 and expected to reach USD 4.14 Billion by 2024, growing at a CAGR of 7.1% during 2018-2024. The market is witnessing a rapid demand due to regulations made by Restriction on Hazardous Substance Directive (RoHS) that prohibits the use of hazardous materials in electric and electronic units. Subsequently, the low emission rate (<0.002 cph/cm2) of ultra-low alpha metal than other hazardous materials in electric and electronic units is accelerating the market growth over the forecast period. The other major factor augmenting the market is the expansion and advancement of industries such as electronics, medical, aviation, automotive, and telecommunication.
Alpha emission of a material can be defined as decaying of one atom into another with mass number reduced by four and atomic number reduced by two. The rate of alpha emission determines the grade of the metal as low alpha (<0.02 cph/cm2), ultra-low alpha (<0.002 cph/cm2), or super ultra-low alpha (<0.001 cph/cm2). Furthermore, the increasing applications of ultra-low alpha metal in PCBs, plating, semiconductor packaging, and circuit boards are also fuelling the market growth.
Ultra-low alpha metals market is segmented based on product, application, and region. Based on product, the ultra-low alpha metals market can be divided into ULA Tin, ULA Tin Alloys, ULA Lead Alloys, and ULA Lead-free Alloys. By application, the global ultra-low alpha metals market can be divided into Automobile, Aviation, Telecommunication, Electronics, Medical, and others.
Based on region, the global ultra-low alpha metals market can be divided into North America, South America, Europe, Middle East & Africa, and Asia-Pacific. Currently, the Asia-Pacific region is the largest consumer of ultra-low alpha metals and is estimated to grow at an exponential rate. Expansion of electrics and electronic sector in countries such as China, Japan, and India are expected to lead the Asia-Pacific ultra-low alpha metals market, with China expected to account for the highest share in the regional demand of ultra-low alpha metals. Moreover, China is further projected to account for the highest share in the global market and is anticipated to grow throughout the forecasted period. This can be attributed to rapid industrialization and increasing urbanization during the past few years. The markets in various other developing economies such as Brazil, Russia, Korea, and India among others are also expected to witness a rapid growth throughout the forecast period. In addition to this, rising per capita disposable income and surge in the global economy is another key factor which is expected to bring impetus to the growth of the global market during the forecast period.
The major players in the global ultra-low alpha metals market include Honeywell International Inc., Pure Technologies, Indium Corporation, Mitsubishi Materials Corporation, Alpha Assembly Solutions, Teck Resources, DUKSAN Hi-Metal Co., Ltd., Honeywell International Inc. and AIM Metals & Alloys LP among others.
Ultra-Low Alpha Metals Replacing Hazardous Materials, to Witness a CAGR of 7.1% During 2018 – 2024