Global Advanced Packaging Market 2019-2024: —
The Global Advanced Packaging Market was valued at USD 3,358.1 million in 2018, and it is expected to reach a value of USD 6,937.73 million by 2024, at a CAGR of 10.66% during the forecast period (2019-2024). The rise in demand for artificial intelligence (AI) will create a huge demand for semiconductors with improvements.
The advanced packaging market is being dominated by ten to fifteen major players like Intel Corporation, Samsung Electronics Co. Ltd, etc. The market is driven by end-user revenue because of the demand for the latest technology and high-speed gadgets. Sustainable competitive advantage can be attained through innovations in this market, owing to the growing need for differentiated products for various applications. A positive outlook for smartphones, tablets, wireless communications, etc., will have a positive impact on this industry.
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- March 2019 - Intel showcased edge computing and artificial intelligence technologies guiding manufacturers to realize Industry 4.0 vision. These businesses utilize technology with ultra-low latency connectivity over Intel technology-powered 5G and edge networks will be able to unlock operational efficiencies and safety improvements in tandem with machine-to-machine (M2M) automation, vision, and AI insights.
Scope of the Report:
IC packaging in the semiconductor industry has witnessed a continuous transformation in terms of characteristics, integration, and energy efficiency of the product, owing to a vast demand across various end-user verticals of the industry. The 2D integrated circuit (2.0DIC) flip-chip and wafer-level packaging technologies witnessed solid growth over the years, owing to a number of mainstream applications, primarily in high-end smartphones and tablets that are expected to meet stringent size and power management requirements.
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Key Market Trends:
Fan-out Wafer Level Packaging to Provide New Opportunities for Market Growth
- Fan-out wafer level packaging (FOWLP) has emerged as a promising technology to meet the ever increasing demands of the consumer electronic products. The main advantages of FOWLP are the substrate-less package, lower thermal resistance, a higher performance due to shorter interconnects together with direct IC connection by thin film metallization instead of wire bonds or flip chip bumps and lower parasitic effects.
- Semiconductor devices with thousands of I/O points can be seamlessly connected via finely-spaced lines as thin as two to five microns, maximizing interconnect density while enabling high bandwidth data transfer. Significant height and cost savings are achieved via the elimination of the substrate.
- According to the Semiconductor Industry Association report 2018, the end-use categories like computer and communications hold major sales value i.e., USD 144.3 billion and USD 151.9 billion respectively.
- The semiconductors enable a wide variety of products for smartphones and computers and the demand for these devices is increasing year on year. A positive outlook for IoT and artificial intelligence are supplementing the growth of the semiconductor industry.
Asia-Pacific to Witness the Highest Growth in Advanced Packaging Market
- Asia-Pacific is expected to grow at a healthy rate, being a major revenue generating region during the forecast period, primarily owing to the growing population and the customer-side demand.
- Moreover, China is the largest growing economy with a large population, and according to statistics from China’s semiconductor association, the import of IC is increasing for the consecutive year from 2014. The Chinese government has employed a multi-pronged strategy to support domestic IC industry development in order to achieve the goal of becoming the global leader in all primary IC industrial supply chain segments by 2030.
Part Two: Global Protective Packaging Market 2019-2024:
The Global Protective Packaging Market was valued at USD 24.61 billion in 2018, and it is expected to reach a value of USD 32.53 billion by 2024 at a CAGR of 4.77 %, during the forecast period of 2019-2024. Logistics and material handling technology, with its development and innovation, has played a significant role in the evolution and adoption of new generation packaging products. These protective packaging products have evolved to be smart, and the reduction in the price of sensors, network, and communicating devices has augmented the market.
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The competitive landscape of the protective packaging market is moderately fragmented and consists of various vendors providing these products and solutions.
- August 2018 - Sonoco announced the expansion of its environmental and social stewardship initiatives to achieve greater packaging sustainability and recycling, supporting the food industry’s efforts to reduce the global food waste.
- May 2017 - Pregis announced its acquisition of Sussex, a Wisconsin-based sharp packaging system for an undisclosed amount. The acquisition is expected to enable Pregis to expand its product portfolio to include a complete line of flexible packaging bagging systems and materials.
Key Market Trends
Plastic-based Protective Packaging is Expected to Occupy Significant Market Share
- Plastic remains one of the most used raw materials for packaging, and hence occupies the highest market share among the all the raw materials being used by the manufacturers in the packaging industry.
- Plastic provides the flexibility of being cost-effective to manufacturers and its inert nature to the contents being stores in it has allowed it to be utilized for packaging products in certain industry verticals.
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