The global advanced packaging market is on track to witness significant expansion, with a projected Compound Annual Growth Rate (CAGR) of 7.2% between 2023 and 2033. According to industry projections, the market, valued at US$ 30.5 billion in 2023, is anticipated to reach US$ 61.3 billion by 2033.
The semiconductor sector, encompassing various industries, is driving the high demand for advanced packaging solutions, leading to continual evolution in product attributes, integration, and energy efficiency. Technologies such as flip-chip and wafer-level packaging have experienced steady growth, particularly due to their widespread adoption in high-end smartphones and tablets with stringent space and power management requirements.
The redistribution method has played a pivotal role in enabling fan-in area array packaging, catalyzing innovations in packaging technologies such as through-silicon via (TSV)-based interposers, wafer-level packaging, chip stacks, and fan-out packaging. Among these, fan-out wafer-level packaging (FOWLP) has emerged as a promising technology, driven by features like substrate-less packaging and low thermal resistance, garnering popularity worldwide.
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Top Trends Driving Sales of Advanced Packaging Worldwide
- Miniaturization of Electronics Devices: Advanced packaging is gaining traction globally, fueled by the trend of miniaturization in electronic devices, which necessitates compact and efficient packaging solutions.
- High Adoption of Micro-electromechanical Systems (MEMS): The increasing adoption of MEMS is expected to boost sales of embedded die packaging solutions, driven by developments in Bluetooth, radio frequency modules, and the emergence of WiFi-6 technology.
USA Leading the Charge with Exponential Sales Growth in Advanced Packaging Solutions
The USA’s advanced packaging market is poised to reach a valuation of US$ 9.9 billion by 2033, exhibiting a robust CAGR of 6.6% from 2023 to 2033. Key players in the USA are expanding their manufacturing capacities for advanced packaging solutions, with a focus on research and development activities.
Leading companies are investing in cutting-edge technologies such as flip chip scale package, flip chip ball grid array, and fan-out wafer-level packaging. Notably, Intel Corporation’s investment of US$ 3.5 billion in New Mexico for advanced packaging technologies, including the development of Foveros 3D technology, exemplifies the industry’s commitment to innovation and growth.
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Market Dynamics and Trends:
- 5G Technology: The rollout and expansion of 5G networks are driving the demand for advanced packaging solutions, particularly in the telecommunications and mobile device sectors. Advanced packaging enables the integration of multiple components to support the high data transfer rates of 5G.
- Artificial Intelligence (AI) and Edge Computing: The growth of AI applications and edge computing requires advanced packaging to support the integration of high-performance processors, memory, and sensors in compact and power-efficient packages.
- Automotive Electronics: The automotive industry’s increasing reliance on electronics, including advanced driver-assistance systems (ADAS) and electric vehicles, is fueling the demand for advanced packaging solutions that can withstand harsh automotive environments.
- Internet of Things (IoT): The proliferation of IoT devices with diverse functionalities and form factors is driving the need for advanced packaging to accommodate the miniaturization and integration requirements of IoT applications.
- Environmental Sustainability: There is a growing emphasis on environmentally sustainable packaging solutions within the electronics industry. Advanced packaging technologies are exploring materials and processes that reduce environmental impact and support recycling efforts.
Key Takeaways from the Advanced Packaging Market Study
- In terms of end user, the consumer electronics segment is set to dominate by exhibiting around 7.0% CAGR from 2023 to 2033.
- The USA advanced packaging industry is projected to create an absolute dollar opportunity of US$ 4.7 billion through 2033.
- South Korea advanced packaging market is expected to be worth US$ 3.7 billion by 2033.
- China advanced packaging market is likely to be worth US$ 15.5 billion by 2033.
- The United Kingdom advanced packaging market is estimated to showcase a CAGR of 5.6% between 2023 and 2033.
Key Players:
- Amkor Technology Inc.
- ASE Technology Holding Co. Ltd.
- China Wafer Level CSP Co. Ltd.
- ChipMOS Technologies Inc.
- FlipChip International LLC
- HANA Micron Inc.
- Jiangsu Changjiang Electronics Technology Co. Ltd.
- King Yuan Electronics Corp.
- Nepes Corporation
- Powertech Technology Inc.
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Market Outlook by Category
By Type:
- Flip Chip Scale Package
- Flip Chip Ball Grid Array
- Wafer Level Chip Scale Packaging
- 5D/3D
- Fan Out Wafer-level Packaging
- Others
By End User:
- Consumer Electronics
- Healthcare
- Industrial
- Aerospace and Defense
- Automotive
- Other
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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