Wilmington, Delaware, April 09, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Bonding Wires Market by Material (Gold, Copper, Silver, Aluminum, Others), and Application (Integrated Circuits, Transistors, Sensors, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the "bonding wires market" was valued at $12.5 billion in 2022, and is estimated to reach $18.0 billion by 2032, growing at a CAGR of 3.7% from 2023 to 2032.
Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/A64811
Prime determinants of growth
The global bonding wire market is driven by increase in trends for miniaturization of electronics. Miniaturization is a pervasive trend in the electronics industry, driving the demand for smaller and thinner bonding wires that can accommodate the shrinking dimensions of semiconductor packages. As electronic devices become increasingly compact and lightweight, advanced packaging solutions such as wafer-level packaging (WLP), flip chip packaging, and chip-scale packaging (CSP) gain traction. Bonding wires play a crucial role in these packaging technologies, enabling reliable electrical interconnection between semiconductor chips and their substrates or lead frames. Consequently, the bonding wire market benefits from the growing adoption of advanced packaging solutions in smartphones, tablets, automotive electronics, and IoT devices. However, as semiconductor devices become smaller and more complex, the demand for finer wire diameters and tighter pitch spacing increases. However, achieving these requirements poses significant technological challenges for bonding wire manufacturers. Miniaturization demands high precision and advanced manufacturing processes, which may lead to increased production costs and reduced yield rates.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $12.3 billion |
| Market Size in 2032 | $18.0 billion |
| CAGR | 3.7% |
| No. of Pages in Report | 510 |
| Segments covered | Material, Application, and Region. |
| Drivers |
|
| Opportunities |
|
| Restraints |
|
The aluminum segment to maintain its lead position during the forecast period.
By material, the aluminum segment accounted for the largest share in 2022, contributing to more than one-fourth of the global bonding wire market revenue. With the trend towards smaller, lighter electronic devices such as smartphones, tablets, wearables, and IoT devices, there is a growing need for materials that can meet the requirements of miniaturization while maintaining performance. Aluminum bonding wire provides a lightweight alternative to traditional copper bonding wire, contributing to the overall weight reduction of electronic devices. Moreover, aluminum is generally cheaper than copper, making aluminum bonding wire a more cost-effective option for manufacturers. As the demand for electronic devices continues to rise, cost-effective materials become increasingly important for manufacturers looking to maintain competitiveness in the market.
Procure Complete Report (510 Pages PDF with Insights, Charts, Tables, and Figures) @ https://www.alliedmarketresearch.com/checkout-final/bonding-wires-market
The integrated circuits segment to maintain its lead position during the forecast period.
By application, the integrated circuits segment accounted for the largest share in 2022, contributing to more than two-fifths of the global bonding wire market revenue. As integrated circuits become more complex and advanced, the demand for finer wire bonding technologies increases. Bonding wire is essential for making electrical connections between the IC chip and the package or substrate. With advancements in IC design and packaging, the requirements for bonding wire in terms of diameter, material composition, and performance characteristics are becoming more stringent. Moreover, the trend towards smaller and thinner electronic devices, is driven by consumer demands for sleeker and more portable gadgets, necessitating finer wire bonding technology. Bonding wire plays a crucial role in enabling the miniaturization of IC packages by providing reliable electrical connections in a compact space.
Asia-Pacific to maintain its dominance by 2032
By region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than three-seventh of the global bonding wire market and is projected to register the highest CAGR of 4.3% during the forecast period. The Asia-Pacific region is a hub for electronics manufacturing, with countries like China, Japan, South Korea, Taiwan, and Singapore playing significant roles in the global supply chain. As the demand for electronic devices continues to rise worldwide, driven by factors such as urbanization, rising disposable incomes, and technological advancements, there is a corresponding increase in the demand for bonding wire to support the production of semiconductors and electronic components. Furthermore, the Asia-Pacific region is experiencing rapid industrialization and urbanization, leading to increased demand for electronic devices in various sectors such as consumer electronics, automotive, telecommunications, and industrial automation. These sectors require a wide range of integrated circuits and semiconductor components, driving the demand for bonding wire used in their assembly and packaging.
For Purchase Inquiry: https://www.alliedmarketresearch.com/bonding-wires-market/purchase-options
Leading Market Players: -
- Tanaka Holdings Co., Ltd.
- Heraeus Holding GmbH
- TATSUTA Electric Wire & Cable Co., Ltd.
- Sumitomo Metal Mining Co., Ltd.
- MK Electron Co., Ltd.
- Yantai Zhaojin Kanfort Precision Machinery Co., Ltd.
- Shinkawa Electric Co., Ltd.
- AMETEK Electronic Components and Packaging
- TANAKA Denshi Kogyo K.K.
- NIPPON STEEL Chemical & Material Co., Ltd.
The report provides a detailed analysis of these key players in the global bonding wire market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Trending Reports in Bonding Wires Industry:
Cable Tray Market: Analysis and Industry Forecast, 2023-2032
Cable Glands Market: Opportunity and Industry Forecast, 2023-2032
Aluminum Cable Market: Global Opportunity Analysis, 2023-2032
Low Voltage Cable Market: Analysis and Industry Forecast, 2023-2032
Medium Voltage Cable Market: Global Analysis & Industry Forecast, 2021-2030
High Voltage Cable Market: Global Analysis and Industry Forecast, 2020-2027
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/energy-and-power
Follow Us on | Facebook | LinkedIn | YouTube
