Bond Wire Packaging Material Market Estimated To Record Highest CAGR By 2019 - 2028

The global market for Bonding Wire Packaging Material is growing and is expected to increase during the forecasted period.

The diameter of bonding wires ranges from 15 micrometers to several hundred micrometers for high-powered applications. An important market trend that is expected to boost the global Bonding Wire Packaging Material market is the migration to smaller diameter wires. This migration is primarily fueled by the increasing demand for miniaturization. Manufacturers are using bonding wires as an intermediate product opts for small diameter bonding wires because it is an effective way to reduce costs, as materials used in bonding wires such as gold accounts for majority of the expense.

The growing demand for miniaturization in the semi-conductor industry is also leading to an increasing use of bonding wires as an important part of electronic assemblies. This is another factor driving the growth of the market for Bonding Wire Packaging Material. Fine and ultrafine bonding wires of palladium, copper, aluminum, and gold are used in the production of bonding wires. Uniform wires with quality is in high demand. Since the semi-conductor industry is constantly evolving, there is a need for the vendors in this market to continually upgrade their offerings with more compact and advanced packaging materials, such as wires with smaller diameter, to cater to the customer requirements.

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Another important constraint restraining the market for Bond Wire Packaging Material is the rise in the price of raw materials such as the rise in the price of gold, an important intermediate product for bond wires.

The global Bonding Wire Packaging Material market is segmented on the basis of material type and geography. By material type the global Wire Packaging Material market is sub-segmented as Silver, Copper, Palladium-coated copper (PCC), and gold. The market share in terms of volume used for bonding wires was dominated by gold, however the recent steep rise in the price of gold lead to a decrease in its demand. Due to this the industry is shifting towards the use of copper and other materials, which also includes silver, a new addition since 2010. It is expected that the demand for PCC will increase and the PCC segment will command a significant share of the global Bond Wire Packaging Material market during the forecasted period. PCC coated wires also have the added advantage of being resistant to corrosion and oxidation.

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