Panel Level Packaging Industry Growth: Market Growing with 14.9% of Huge CAGR till year 2033

In 2023, it is expected that the global Panel Level Packaging Industry will be worth US$ 2.1 billion. By 2033, the market is projected to be worth about US$ 8.5 billion. It is anticipated to increase at an astounding rate of 14.9% CAGR from 2023 to 2033.

Manufacturers are actively urging their suppliers to provide panel-processing equipment and materials, allowing them to achieve wafer-level precision in their packaging operations on panel substrates. The rise of panel level packaging (PLP) is poised to emerge as a pivotal and indispensable packaging technique.

This type of packaging is extensively used to package several components, including baseband, central processing unit (CPU), graphics processing unit (GPU), power management integrated circuit module, and field programmable gate array. The method lowers circuit packaging costs while increasing design flexibility.

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Drivers:

1. Miniaturization Trends: The increasing demand for smaller and more compact electronic devices, such as smartphones and wearables, drives the adoption of panel level packaging (PLP) due to its ability to achieve higher levels of miniaturization.
2. Improved Electrical Performance: PLP can enhance electrical performance by reducing the length of interconnects, leading to improved signal integrity and reduced power consumption in electronic devices.
3. Cost Efficiency: PLP can be a cost-effective packaging solution, as it reduces the number of process steps and materials required, resulting in potential cost savings for manufacturers.
4. Higher Integration Density: PLP enables higher levels of integration and connectivity within semiconductor packages, supporting the development of advanced and feature-rich electronic products.
5. Advanced Packaging Technologies: The integration of PLP with advanced packaging technologies, such as fan-out wafer-level packaging (FOWLP), enhances its attractiveness in the semiconductor industry.
6. Demand for 5G and IoT Devices: The rollout of 5G networks and the growth of the Internet of Things (IoT) drive the need for compact and high-performance electronic components, boosting the PLP market.

Restraints:

1. Technological Challenges: Implementing PLP can be technically challenging, requiring specialized equipment and expertise, which may pose barriers for some manufacturers.
2. Limited Compatibility: PLP may not be suitable for all types of semiconductor devices, and its adoption is often limited to specific applications and industries.
3. Supply Chain Complexity: Managing the supply chain for PLP materials and equipment can be complex, particularly for companies transitioning from traditional packaging methods.
4. Testing and Reliability Concerns: Ensuring the reliability and quality of PLP-manufactured devices can be a challenge, as traditional testing methods may need to be adapted or upgraded.
5. Environmental Impact: As PLP often involves the use of advanced materials and processes, there may be environmental concerns related to waste and sustainability.
6. Market Competition: The PLP market is becoming increasingly competitive, with various packaging technologies vying for market share, which can lead to pricing pressures.

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Key Takeaways from the Panel Level Packaging Industry Study:

1. From 2018 to 2022, the Panel Level Packaging Industry showed a historical CAGR of about 6%, which was rather significant.
2. By 2033, it is anticipated that the Panel Level Packaging Industry in the USA will be worth US$ 1.4 billion.
3. The Panel Level Packaging Industry in the United Kingdom is projected to surge at a 2% CAGR during the forecast period.
4. During the assessment period, South Korea is expected to generate an absolute dollar opportunity of around US$ 392.7 million.
5. The fan-out panel level packaging category is anticipated to increase at a CAGR of 8% by 2033, according to integration type.

Key Players

• Amkor Technology Inc.
• Deca Technologies
• Lam Research Corporation
• ASE Group
• Siliconware Precision Industries Co. Ltd.
• Fraunhofer Institute
• SPTS Technologies
• Stats ChipPac
• Qualcomm Technologies
• Samsung
• TSMC

For instance,

1. LB Semicon, an OSAT firm with its headquarters in South Korea, said in June 2022 that starting the following year, it will provide fan-out wafer level packaging solutions. This action aims to lessen the company’s reliance on the display driver integrated circuit dumping industry. The business provides testing services for application processors and complementary metal-oxide semiconductor image sensors.

2. The first electronic computer-aided design (ECAD) platform for 3D system design was released in October 2021 by a California-based company called Cadence. Building 3D stacked designs is anticipated to be done using the Cadence 3D-IC platform. This platform supports a variety of packaging arrangements, including 3D stacking, wafer-on-chip packaging, and fan-out wafer level packaging.

3. Samsung Electronics, a South Korea-based electronics maker, said in May 2021 that it would invest US$ 139.2 billion through 2030 on new manufacturing facilities, foundry operations, and system very large scale integration. The company’s foundry division will support cutting-edge technologies including high performance computing, 5G, and artificial intelligence.

Key Segments Covered

• Integration Type
• Carrier Type
• End User
• Region

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