Advanced Packaging Market Size, Share, Growth Analysis, By Type(Flip Chip CSP, and Flip-Chip Ball Grid Array), By End-Use(Consumer Electronics, and Automotive) - Industry Forecast 2024-2031

Global Advanced Packaging Market size was valued at USD 30.60 billion in 2022 and is poised to grow from USD 33 billion in 2023 to USD 60.36 billion by 2031, growing at a CAGR of 7.84% during the forecast period (2024-2031).

Advanced packaging serves as a protective enclosure that safeguards silicon wafers, logic units, and memory from physical damage and corrosion during the final stage of semiconductor manufacturing. This packaging technique facilitates the connection of the chip to a circuit board. It encompasses various innovative methods like 2.5D, 3D-IC, fan-out-wafer-level packaging, and system-in-package.

The advanced packaging market has witnessed rapid growth, particularly in fan-out wafer level packaging, driven by the increasing demand for smartphones, IoT devices, and high-end products. As a result, suppliers in this industry are actively developing cost-effective processes to enhance operational efficiency.

While currently mainly utilized for high-end products and niche-market applications due to its higher operational costs, advanced packaging offers immense potential in accommodating the diverse packaging requirements of different integrated circuits (ICs). This diversity in packaging needs presents growth opportunities for advanced packaging, superseding traditional packaging methods.

Moreover, advanced packaging is expected to outperform conventional packaging solutions by offering enhanced capabilities, creating lucrative opportunities for market trends and further advancement in the field in the coming years.

US Advanced Packaging Market is poised to grow at a sustainable CAGR for the next forecast year.