Electronic Packaging Market Size

Electronic Packaging Market Analysis

The Electronic Packaging Market is expected to register a CAGR of 18.51% over the forecast period. Electronic packaging is generally more suited for mass production due to the rising demand for products such as TVs, set-top boxes, MP3 players, and digital cameras.

• Many devices used in the healthcare sector depend on semiconductor manufacturing technology, which, in turn, is expected to impact the electronic packaging market. For instance, in January 2022, LG Electronics launched its latest healthcare product, "MediPain," a pain relief home device.
• The rise of IoT and AI and the proliferation of complex electronics are driving the high-end application segment in the consumer electronics and automotive industries. Due to these factors, more advanced electronic packaging technologies are being adopted to sustain demand. Furthermore, Amkor Technology and Samsung Electronics collaborated to develop the cutting-edge H-Cube solution. Samsung Electronics has announced the development of Hybrid-Substrate Cube technology, its most contemporary 2.5D packaging solution explicitly created for semiconductors for HPC, AI, data center, and network instruments that demand high-performance and spacious area packaging technology.
• Further, the global wi-fi chipset market is experiencing the transition to the 5th wi-fi generation, the 802.11ac with MIMO. An increasing number of customers are likely to adopt the technology due to an improvement in speed up to 1.3 GHz over long distance, driving the demand.
• Some recent advances in the market contain innovative packaging solutions with a new, unique, vibrant, and memorable design with minimal aesthetics driving the market's growth. In January 2022, Smurfit Kappa Group announced the expansion of its plant capacity in Brazil by investing USD 33 million. This will help the company extend its capabilities for shelf-ready packaging for home appliances, fresh produce, and pharmaceutical products.
• Also, the automotive sector accounts for a significant portion of the market studied, mainly due to its increasing adoption of electric vehicles (EVs) and hybrid vehicles. As a large number of memory devices, processors, analog circuits, discrete power devices, and sensors are used in electric and hybrid cars, the demand is set to rise at a rapid rate over the forecast period.
• According to IBEF, India's electric vehicle (EV) market is expected to reach INR 50,000 crores (USD 7.09 billion) by 2025. Further, a CEEW Centre for Energy Finance study shows India's USD 206 billion in opportunities for electric vehicles by 2030. Such developments will further drive the market growth for electronic packaging.
• The global spread of the pandemic has harmed sales of electronic packaging solutions and consumer electronics packaging. The demand for consumer electronics packaging is driven by the mobile phone and computer industries. Even during the pandemic, the output of these industries was not significantly impacted by a halt in production, a scarcity of raw materials, and supply chain disruptions.