Austin, July 31, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The Electronic Packaging Market Size was valued at USD 1.01 billion in 2023. It is expected to reach USD 4.48 billion by 2032 and grow at a CAGR of 18.02% over the forecast period 2024-2032.
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The electronic packaging market is one of the major sectors within the electronics industry as it provides effective and high-quality electronic and semiconductor packaging intended to protect components from a variety of harmful impacts. Electronic packaging does not allow water, electrostatic discharge, harsh weather conditions, dust, corrosion, and other adverse factors to affect electronic products, which include smartphones, TVs, tablets, set-top boxes, digital media adapters, etc. In the U.S., the Department of Commerce reported that it would launch a competition in 2023. It will be funded up to $1.6 billion as authorized by the CHIPS and Science Act.
Semiconductor devices are becoming more complex, high-speed operating, and high-functional, and only sophisticated packaging solutions can meet the constantly rising requirements. For instance, the development of small but effective and powerful chips, the optimum performance of which is unachievable without innovative packaging methods. advanced packaging technologies such as System-in-Package and 3D packaging need to be implemented to meet the industry’s requirements for electronics and semiconductors miniaturization. SiP allows placing several semiconductor devices in a single package to ensure integration and reduce the size due to improved functionality and performance.
Electronic Packaging Market Report Scope & Overview:
| Report Attributes | Details |
| Market Size in 2023 | USD 1.01 billion |
| Market Size in 2032 | USD 4.48 billion |
| CAGR (2024-2032) | 18.02% |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Market Driver |
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Segment Analysis
By Type
- Corrugated Boxes
- Thermoformed Trays
- Blister packs and Clamshell
- Paperboard Boxes
- Bags and Pouches
- Protective Packaging
By Material
- Plastic
- Glass
- Metal
- Others
By Packaging Technology
- Through Hole Mounting
- Chip Scale Packages
- Surface Mount Technology
By End User
- Consumer Electronics
- Automotive
- Aerospace & Defense
- Telecommunication
“The corrugated boxes segment dominates the market”
The corrugated boxes segment accounted for more than 38% of the market share in 2023. Corrugated boxes dominate due to their strength, versatility, and affordability. The flutes with a cushioning and shock-absorbing effect protect electronic devices from impacts during shipment and handling. Corrugated boxes can also be customized to assume different shapes, sizes, weights, and configurations based on the devices to be packaged. Personalizing the dimensions will prevent the devices from sliding around in the box and minimize damage.
“The Plastic segment dominated the market.”
The plastic segment occupied over 35% of the market share in 2023 and is expected to grow faster during the forecast period 2024-2032. Plastics, such as polyethylene, polypropylene, and PVC, provide excellent spill and shock resistance, which is required for electronic packaging. Polycarbonate is transparent and offers high impact resistance, which can be seen in the market due to its suitability for protecting many electronic displays.
“Asia Pacific leads in the regional analysis”
Asia-Pacific leads the market with a market share of over 40% in 2023. This growth can be attributed to the increasing presence of many semiconductor packaging companies such as Samsung and LG that provide packaging technologies and advanced materials. The market is fueled by the increasing demand for consumer electronics due to the rising personal disposable income and growing population in this region. China holds the major market share in 2023 followed by India. The demand in these two countries can be attributed to government programs and funding to create advanced technologies for various semiconductor packaging solutions.
Recent Developments
- March 2024: Mars has partnered with Ansys, a simulation software provider, to reimagine the packaging innovation process. The companies will perform online testing to create innovative digital packaging solutions.
- May 2024: American Packaging Corporation opened a second production unit for digitally produced flexible packaging media in Wisconsin. The new unit is equipped not only with the latest digital printing equipment but also with the necessary equipment to laminate or make bags, so it is possible to fulfill orders very quickly in the new production.
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Key Takeaways from the report:
- Detailed market analysis including trends, growth drivers, and challenges, provides clients with information to make better business decisions.
- Recognizes opportunities for growth and possible investments within the Electronic Packaging Market.
- Provides insights on a competitor that includes the analysis of key players including upcoming and established companies focusing on strategy, the competitive landscape, and recent developments.
- Details of key regions and the market share give a fair idea of high-growth areas for the clients.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Electronic Packaging Market Segmentation, By Type
8. Electronic Packaging Market Segmentation, By Material
9. Electronic Packaging Market Segmentation, By End User
10. Electronic Packaging Market Segmentation, By Packaging Technology
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Use Case and Best Practices
15. Conclusion
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