Chicago, May 02, 2024 (GLOBE NEWSWIRE) -- The Semiconductor & IC Packaging Materials Market is projected to reach USD 70.9 billion by 2029, at a CAGR of 10.1% from USD 43.9 billion in 2024, as per the recent study by MarketsandMarkets™. Rising demand for silicone elastomers from industries such as building & construction, foams, automotive & transportation, electrical & electronics, healthcare, consumer goods, and others for a variety of applications is leading the market. During the forecast period, this is anticipated to expand the silicone elastomers market even more.
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List of Key Players in Semiconductor & IC Packaging Materials Market:
- LG Chem Ltd. (South Korea)
- Jiangsu ChangJian Technology Co., Ltd. (China)
- Henkel AG & Co. KGaA (Germany)
- Kyocera Corporation (Japan)
- ASE (Taiwan)
- Siliconware Precision Industries Co., Ltd. (Taiwan)
- Amkor Technology (US)
- Texas Instruments (US)
- IBIDEN CO., LTD. (Japan)
- Powertech Technology Inc. (Taiwan)
Drivers, Restraints, and Opportunities in Semiconductor & IC Packaging Materials Market:
- Driver: Increasing demand from consumer electronics market
- Restrain: Technological change and obsolescence
- Opportunity: Integration with advanced technologies
- Challenge: The high cost of advanced materials
Key Findings of the Study:
- Small outline package (SOP) by packaging technology is projected to be the largest, in terms of value, during the forecast period.
- Organic substrate by type is projected to be the largest, in terms of value, during the forecast period.
- Consumer electronics by end-use industry segment is projected to be the largest, in terms of value, during the forecast period.
- Asia Pacific is expected to be the fastest growing market for semiconductor & IC packaging materials during the forecast period, in terms of value.
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Based on type, the semiconductor & IC packaging materials market has been segmented into organic substrate, bonding wires, leadframes, encapsulation resins, ceramic packages, die attach materials, thermall interface materials, solder balls and others. organic substrate accounted for the largest share, in terms of value, of the global market in 2024.
The organic substrate segment is the largest type for semiconductor and IC packaging materials due to several key factors. Firstly, organic substrates, such as printed circuit boards (PCBs), offer a cost-effective solution compared to other packaging materials like ceramic packages. This cost efficiency is crucial in mass production and aligns with the semiconductor industry's goal of achieving economies of scale. Additionally, organic substrates provide excellent electrical insulation properties, which are vital for preventing electrical shorts and maintaining signal integrity within the package. Moreover, the versatility of organic substrates allows for complex designs and integration of multiple components on a single board, offering flexibility in packaging solutions for various semiconductor applications. Another significant advantage is their lightweight nature compared to materials like leadframes or ceramic packages, which contributes to overall system miniaturization and improved portability of electronic devices. Furthermore, organic substrates can be easily manufactured using standard PCB fabrication processes, leading to faster production cycles and reduced time-to-market for semiconductor products. Additionally, advancements in organic substrate materials, such as high-speed laminate materials and low-loss dielectrics, have further enhanced their performance in terms of signal transmission and thermal management, making them a preferred choice for modern semiconductor packaging. Overall, the combination of cost-effectiveness, electrical insulation, design flexibility, lightweight properties, ease of manufacturing, and technological advancements collectively positions organic substrates as the largest segment in semiconductor and IC packaging materials.
Based on packaging technology, the semiconductor & IC packaging materials market has been segmented into Small outline package (SOP), Grid array (GA), Quad flat no-Leads (QFN), Dual Flat No-Leads (DFN), Quad flat packages (QFP), Dual-in-line (DIP) and others. Small outline package (SOP) accounted for the largest share, in terms of value, of the global market in 2024.
The small outline package (SOP) technology holds the largest market share for the semiconductor and IC packaging materials market due to several key advantages it offers. Firstly, SOPs are known for their compact size and low profile, making them ideal for applications where space constraints are a concern, such as in mobile devices, wearables, and IoT devices. This compactness also contributes to reduced material usage and lower overall package weight, which are critical factors in industries aiming for lightweight and portable electronic products. Additionally, SOPs are designed with a small lead pitch, enabling higher pin density and improved integration of semiconductor components, leading to enhanced functionality and performance within a smaller footprint. Furthermore, SOPs are often compatible with surface mount technology (SMT), allowing for automated assembly processes that increase production efficiency and reduce manufacturing costs. This compatibility with SMT also facilitates better thermal management, as SOPs can be mounted directly onto the PCB, improving heat dissipation and overall device reliability. Another advantage of SOP technology is its versatility in terms of package configurations, with options such as SOP-8, SOP-16, and SOP-28, among others, catering to a wide range of semiconductor applications and requirements. Moreover, SOPs typically offer good electrical performance, including low parasitic capacitance and inductance, which is essential for high-speed digital and analog applications. They also provide adequate protection against external environmental factors such as moisture and mechanical stress, ensuring the longevity and reliability of semiconductor devices. Overall, the combination of compact size, high pin density, compatibility with SMT, thermal management capabilities, versatility, and good electrical performance positions SOP technology as the leading choice in the semiconductor and IC packaging materials market.
Based on end-use industry, the semiconductor & IC packaging materials market has been segmented into consumer electronics, automotive, aerospace & defense, IT & telecommunication and healthcare among others. Consumer electronics accounted for the largest share, in terms of value, of the global market in 2024.
Consumer electronics holds the largest market share for semiconductor and IC packaging materials due to several key factors. Firstly, the consumer electronics industry experiences high demand for semiconductor devices and integrated circuits (ICs) across a wide range of products such as smartphones, tablets, laptops, gaming consoles, smart TVs, and wearables. These devices require advanced packaging solutions to meet the ever-increasing demands for performance, miniaturization, and functionality, driving the need for a variety of packaging materials. Secondly, the rapid pace of innovation and product development in the consumer electronics sector necessitates packaging materials that can support cutting-edge technologies like high-speed data processing, artificial intelligence (AI), augmented reality (AR), and internet of things (IoT) connectivity. Semiconductor and IC packaging materials play a crucial role in enabling these technologies by providing electrical insulation, thermal management, signal integrity, and mechanical protection to the semiconductor components.
Additionally, consumer electronics companies prioritize cost-effective solutions and fast time-to-market, driving the adoption of efficient packaging materials and assembly processes. This includes materials like organic substrates, leadframes, encapsulation resins, and advanced die attach materials that offer a balance between performance, cost, and manufacturability. Moreover, the consumer electronics industry benefits from the widespread adoption of devices across global markets, leading to large-scale production volumes and economies of scale in semiconductor packaging materials. This scale of production further drives down costs and encourages innovation in packaging technologies to meet the diverse needs of consumers worldwide. Furthermore, consumer preferences for sleek, lightweight, and energy-efficient devices influence the choice of packaging materials that contribute to these attributes, such as thin-profile packages, low-power ICs, and environmentally friendly materials. Overall, the combination of high demand, technological innovation, cost considerations, global market reach, and consumer-driven requirements positions consumer electronics as the leading end-use industry driving the semiconductor and IC packaging materials market.
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Asia Pacific stands out as the premier market for semiconductor and IC packaging materials, driven by its status as a global electronics manufacturing powerhouse with key players like China, Japan, South Korea, Taiwan, and Singapore hosting robust semiconductor ecosystems. This region's emphasis on technological innovation, epitomized by leaders such as South Korea and Japan, fuels demand for high-performance packaging materials that meet the exacting standards of advanced semiconductor devices. Moreover, Asia Pacific benefits from a flourishing consumer electronics sector propelled by rising disposable incomes and digitalization trends, relying heavily on semiconductor and IC packaging materials for diverse products like smartphones, laptops, wearables, and automotive electronics. The region's strategic advantages as a cost-effective manufacturing hub with efficient supply chains and skilled labor further bolster its dominance in the semiconductor industry. Government initiatives and favorable business environments in countries like China, Taiwan, and Singapore further contribute to the region's position as the primary driver of growth and innovation in the global semiconductor and IC packaging materials market.
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