Electronic Packaging Market Size, Share, Growth Analysis, By Type Sub-SegmentsCorrugated Boxes, Paperboard Boxes, Thermoformed Trays, Bags and Pouches, Blister packs and Clamshell, and Protective Packaging(Plastic, Metal), By Material(Semiconductor & IC, PCB), By Application(Consumer Electronics, Aerospace & Defense), By End-User(Electronic Article Surveillance (EAS), and Radio-frequency Identification) - Industry Forecast 2024-2031

Global Electronic Packaging Market size was valued at USD 1.46 billion in 2022 and is poised to grow from USD 1.72 billion in 2023 to USD 9.04 billion by 2031, growing at a CAGR of 18.03% in the forecast period (2024-2031).

The rise of IoT and AI and the proliferation of complex electronics are driving the higher applications in the consumer electronics and automotive industries and due to these factors, electronic packaging is being adopted more advanced technology has been adopted to meet the demand. Additionally, Amcor Technology partnered with Samsung Electronics to develop the state-of-the-art H-Cube solution. Samsung Electronics announced the development of Hybrid-Substrate Cube technology, its modern 2.5D packaging solution built expressly for semiconductors for HPC, AI, data center, and network devices requiring high performance and large area packaging technologies.

Since then, the global market has undergone a transition to the 5th generation of wi-fi, 802.11ac with MIMO. A growing number of customers are likely to adopt the technology due to speeds up to 1.3 GHz over long distances, driving demand.

Recent developments in the market include innovative, unique, vibrant and memorable designs with minimal aesthetics driving the market growth. In February 2022, the Smurfit Kappa Group announced a $33 million expansion of its Brazilian facility. This will help the company expand its portfolio of home packaging, fresh produce and shelf-ready pharmaceuticals. Furthermore, the automotive industry accounts for the largest segment of the market studied, mainly due to the increasing adoption of electric vehicles (EVs) and hybrid vehicles as electric and hybrid vehicles use large amounts of memory devices. processors, analog circuits, discrete power devices are used therefore and sensors. The demand is expected to grow rapidly over the forecast period.

According to the IBEF, the Indian electric vehicle (EV) market is expected to reach Rs 50,000 crore (US$7.09 billion (about $22 per person in the US)) by 2025. Moreover, a study by the Center for Energy Finance CEEW sees opportunities in India of $206 billion for electric vehicles by 2030. Such developments are electronic packaging. It will continue to grow its market.