NEW YORK, Sept. 16, 2021 /PRNewswire/ -- Zion Market Research has published a new report titled "Semiconductor and IC Packaging Material Market By Type (Lead Frames, Bonding Wires, Ceramic Packages, Organic Substrates, and Others) and By Packaging Technology (DFN, GA, QFN, SOP, and Others): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2018-2025". According to the report, the global semiconductor and IC packaging material market was USD 25.6 billion in 2018 and is expected to reach around USD 34.8 billion by 2025, at a CAGR approximately 4.6% between 2019 and 2025.
The semiconductor and IC packaging material market will show significant growth in the future, owing to the growing integration of technology in the automobile industry. Numerous companies are implementing innovative technologies in their vehicles. For example, the recent launch of the MG (Morris Garages) Hector in India. MG Hector is clubbed with technologies like voice recognition, touch screen, AC monitoring system, and controlled lighting. Growing R&D investments by numerous leading companies to develop better packaging materials and technologies is also driving the semiconductor and IC packaging material market. Moreover, the demand for commercial, industrial, and consumer electronics is surging, owing to rising digitalization across the world. Using advanced technology in industries has become a necessity, as it saves times and leads to better output.
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The integrated circuits and semiconductors usage ensures better performance and these are widely utilized in the electronics industry. Furthermore, the increasing population acts as a catalyst for this market along with the growing consumer spending on electronic devices and the latest gadgets. Additionally, the development of packaging material for mobile phones and other gadgets is growing, which is also contributing to this market. However, difficulty in implementing new technologies and latest packaging materials in small companies might slow down the semiconductor and IC packaging material market.
On the basis of type, organic substrates are anticipated to hold a sizable share of the semiconductor and IC packaging material market. This can be attributed to their increasing demand in the packaging industry as it is moving toward using less packaging materials. Thus, these substrates are replacing bonding wires and lead frames and increasingly gaining market shares. Moreover, organic substrates are flexible and have a wide range of applications, which is further expected to fuel this segment's growth.
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On the basis of technology, the DFN (Dual Flat No Leads) package is predicted to hold a considerable market share. DFN has shorter bond wire lengths that help in providing better electrical performance owing to less inductance as compared to other leaded packages. DFN also has pads that range from 3 to 32.
The Asia Pacific semiconductor and IC packaging material market is predicted to hold a notable share in the future. The implementation of semiconductors and ICs is high in Japan, China, Taiwan, and South Korea. Moreover, is the availability of labor and raw materials at economical prices in the region and a large population base are also propelling this regional market.
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Some key players of the semiconductor and IC packaging material market globally are Amkor Technology, DuPont, Henkel, Honeywell, Toppan Printing, Hitachi Chemical, Kyocera Chemical, LG Chemical, Alent, BASF, Sumitomo Chemical, Toray Industries Corporation, Mitsui High-Tec, and Tanaka Holdings.
This report segments the global semiconductor and IC packaging material market into:
Global Semiconductor and IC Packaging Material Market: By Type
- Lead Frames
- Bonding Wires
- Ceramic Packages
- Organic Substrates
- Others
Global Semiconductor and IC Packaging Material Market: By Packaging Technology
- DFN
- GA
- QFN
- SOP
- Others
Global Semiconductor and IC Packaging Material Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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