USD 37.76 billion
Report ID: SQSG45N2002 | Region: Global | Published Date: November, 2022 | Pages: 221 | Tables: 100 | Figures: 76
IC Packaging Market size was valued at USD 37.76 billion in 2021 and is poised to grow from USD 40.94 billion in 2022 to USD 77.89 billion by 2030, growing at a CAGR of 8.37% in the forecast period (2023-2030).
The IC packaging protects IC chips from the environment and ensures a secure electrical connection for chip mounting on printed circuit boards. The rapid advancement of electronics technology, such as AI and cloud computing, is complemented by a high demand for high-speed, high-integration, and low-power ICs. During the last stages of the semiconductor manufacturing process, it is a supporting case that protects silicon wafers, logic units, and memory from physical damage and corrosion. It makes it possible to connect the chip to a circuit board. Various ICs have different packaging needs, resulting in IC Packaging market growth prospects.
US IC Packaging Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 37.76 billion
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Global IC Packaging Market is segmented based on the Type, Bonding Techniques, Application and region. Based on the Type, the IC Packaging Market is segmented as DIP, SOP, QFP, QFN, BGA, CSP, LGA, WLP, FC, and Others. Based On Bonding Techniques, the IC Packaging Market is segmented as Wire Bonding, Flip Chips, Wafer Level Packaging and Others. Based On Application, the IC Packaging Market is segmented as Memory IC, Logic IC, Discrete, SIP, and Other. Based on Region, IC Packaging Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
IC Packaging Market Analysis by Type
The global IC packaging market is segmented based on the package type as DIP (Double In-line Package), SOP (Small Outline Package), QFP (Quad Flat Package), QFN (Quad Flat Non-leaded Package), BGA (Ball Grid Array Package), CSP (Chip Scale Package), LGA (Land Grid Array), WLP (Wafer Level Packaging), FC (Flip Chip), and Others. The others segment of the market includes PGA, SOJ, and many. Among these types, the DIP segment of the market is projected to hold the most substantial share in the market and grow at a CAGR of 9.7% during the forecast period. The DIP package type is the traditional way of a package of ICs and is more cost-effective than others. However, the size is bigger when compared to other package types. Whereas, the WLP, BGA, and FC are among some of the fastest-growing package types in the market. As the industry players are shifting towards the miniaturization of devices, smaller internal parts such as small-sized ICs are required.
IC Packaging Market Analysis By Bonding Technique
The global IC packaging market is segmented based on the bonding technique as Wire Bonding, Flip Chips, Wafer Level Packaging, and Others. The other segment of the market includes Tape Automated Bonding (TAB). Among these types, the wire bonding segment of the market is projected to hold the most substantial share in the market. Wire bonding includes gold wire bonding, copper wire bonding, and aluminum wire bonding. The wire bonding technique is the traditional and most common way of bonding ICs and is more cost-effective than others. However, the advent of other advanced bonding techniques is projected to limit the segment’s growth. Whereas, the water level packaging bonding technique is projected to grow fastest in the market. wafer-level packaging bonding technique is projected to grow at the fastest CAGR of 10.1% during the forecast period. The industry manufacturers are shifting toward advanced bonding techniques that include wafer-level packaging and flip-chip bonding techniques, as it possesses various advantages over the traditional bonding techniques. Hence, this drives the segmental market growth.
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The global IC packaging market is segmented based on the geography of North America, Europe, and Asia-Pacific. Among these regions, the Asia-Pacific region is projected to hold the most dominating share of more than 90% in the market. The major aspect that drives the regional growth of the market includes the presence of major IC packaging and assembly companies in the region. The Asia-Pacific region is considered the major hub for IC assembly and packaging across the globe. Countries such as Taiwan, China, Japan, and South Korea are among the key contributors to the regional growth of the market.
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IC Packaging Market Driver
IC Packaging Market Restraint
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The Global IC Packaging market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.
IC Packaging Market Top Player's Company Profiles
IC Packaging Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global IC Packaging Market Analysis, among these types, the DIP segment of the market is projected to hold the most substantial share in the market and grow at a CAGR of 9.7% during the forecast period. the wire bonding segment of the market is projected to hold the most substantial share the market. Wire bonding includes gold wire bonding, copper wire bonding, and aluminum wire bonding. The wire bonding technique is the traditional and most common way of bonding ICs and is more cost-effective than others. the Asia-Pacific region is projected to hold the most dominating share of more than 90% in the market. The major aspect that drives the regional growth of the market includes the presence of major IC packaging and assembly companies in the region.
|Market size value in 2021||USD 37.76 billion|
|Market size value in 2030||USD 77.89 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
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For the Global IC Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global IC Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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