Dublin, June 01, 2023 (GLOBE NEWSWIRE) -- The "Organic Substrate Packaging Material Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global organic substrate packaging material market is expected to grow from $13.63 billion in 2022 to $14.33 billion in 2023 at a compound annual growth rate (CAGR) of 5.1%. The organic substrate packaging material market is expected to grow to $17.19 billion in 2027 at a CAGR of 4.7%.
The increasing adoption of self-driving vehicles is expected to propel the organic substrate packaging material market growth going forward. The self-driving vehicles also known as autonomous car refers to a vehicle that is capable of sensing their surroundings and operating without human interaction. The self-driving vehicles require semiconductors for processing and sensing the captured data. The increasing use of semiconductors will increase the demand for the packaging of the semiconductors, which eventually will increase the demand for organic substrate packaging materials.
For instance, in 2021, according to a report published by the SMMT, the trade association for the United Kingdom motor industry, connected and autonomous vehicles (CAVs), will boost the UK economy to £62 billion by 2030 and, there will 1 in every 5 miles will be traveled by self-driving vehicles while preventing 47,000+ accidents.
Further, according to American Automobile Association, a US-based privately held not-for-profit national member association and service organization, 72% of U.S. adults feel safer in a self-driving car if they can take over the car. Therefore, the increasing adoption of self-driving vehicles is driving the growth of the organic substrate packaging material market.
Technological advancements are a key trend gaining popularity in the organic substrate packaging material market. Major companies operating in the organic substrate packaging material market are focused on developing new technological solutions to strengthen their position.
For instance, in June 2021, Panasonic Holdings Corporation, a Japan-based provider of industrial products and solutions including capacitors, packaging, and sensors, launched a new substrate packaging material, R-1515V, which is expected to improve assembly-level reliability and lower the package warpage. Its optimized mechanical properties lower the residual stress on solder joints, created during reflow assembly, to improve the reliability of IC chips. The new material will allow addressing the critical challenge with the IC chips packaging process by lower thermal expansion.
In February 2021, ASE Kaohsiung, a Taiwan-based provider of semiconductor packaging and test services, collaborated with Siemens AG. Through this collaboration, the companies introduced next-generation high-density advanced packaging designs. It is a program designed to drive the faster adoption of new HDAP technologies like 2.5D, 3D IC, and Fan-Out wafer-level packaging for next-generation IC designs. With the help of the new design flow, it will be faster and easier to design and close any physical verification issues for their entire wafer package assembly. Siemens AG is a Germany-based conglomerate corporation and specialist in the substrate packaging industry.
Asia-Pacific was the largest region in the organic substrate packaging material market in 2022. North America was the second-largest region in the organic substrate packaging material market. The regions covered in the organic substrate packaging material market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the organic substrate packaging material market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Description:
Where is the largest and fastest growing market for organic substrate packaging material? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The organic substrate packaging material market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
1) By Technology: Small Outline (SO) Packages; Grid Array (GA) Packages; Flat No-Leads Packages; Quad Flat Package (QFP); Dual In-Line Package (DIP); Other Technologies
2) By Application: Consumer Electronics; Automotive; Manufacturing; Healthcare; Other Applications
3) By End-Use: Mobile Phones; FPD (Flat Panel Display); Other End-Uses
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $14.33 billion |
| Forecasted Market Value (USD) by 2027 | $17.19 billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Organic Substrate Packaging Material Market Characteristics
3. Organic Substrate Packaging Material Market Trends And Strategies
4. Organic Substrate Packaging Material Market - Macro Economic Scenario
5. Organic Substrate Packaging Material Market Size And Growth
6. Organic Substrate Packaging Material Market Segmentation
7. Organic Substrate Packaging Material Market Regional And Country Analysis
A selection of companies mentioned in this report includes
- Amkor Technology Inc.
- ASE Kaohsiung
- Compass Technology Co. Ltd.
- Hitachi Chemical Company Ltd.
- Mitsubishi Corporation
- STATS ChipPAC Pte. Ltd.
- NGK Spark Plug Co. Ltd.
- Shinko Electric Industries Co. Ltd.
- Showa Denko
- Kyocera Corporation
- WUS Printed Circuit Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/fcqmku
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