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Organic Substrate Packaging Material Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Organic Substrate Packaging Material Market
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According to The Business Research Company's, The organic substrate packaging material market size has grown strongly in recent years. It will grow from $14.24 billion in 2023 to $15 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to consumer electronics boom, environmental concerns, regulatory standards, market competition, global economic trends.
The organic substrate packaging material market size is expected to see strong growth in the next few years. It will grow to $18.53 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to electric vehicle market growth, circular economy initiatives, stringent environmental regulations, rising consumer electronics trends, supply chain resilience. Major trends in the forecast period include integration of nanotechnology in packaging, expansion of applications in healthcare, innovation in material compositions, demand for high-performance and cost-effective solutions, next-gen technologies.
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Market Drivers and Trends:
An increase in use of semiconductors is expected to propel the growth of the organic substrate packaging material market going forward. Semiconductors are materials that have electrical conductivity between that of a conductor (like metals) and an insulator (like non-metals). They are crucial components in the field of electronics and play a fundamental role in the construction of various electronic devices. Organic substrate packaging materials play a vital role in the semiconductor industry, particularly in the packaging and assembly of integrated circuits (ICs). These materials serve as the structural foundation for mounting and connecting semiconductor devices, providing electrical insulation and mechanical support. The organic substrate packaging materials enhance the reliability, thermal performance, and overall functionality of semiconductors. With the increasing demand for compact and high-performance electronic devices, the semiconductor industry relies on advanced organic substrate packaging materials to enable the miniaturization and efficient integration of semiconductor components. For instance, in April 2023, the Federation of American Scientists, a US-based nonprofit global policy think tank published an article according to which from 2012 to 2022, global sales of semiconductor chips doubled to $602 billion, accelerated by increasing digitization and connectivity across nearly every industry and between 2020 and 2022, U.S. and foreign-headquartered firms announced over $200 billion in private investments to expand domestic manufacturing capacities for semiconductor fabrication, equipment, and materials across 16 states. Therefore, an increase in use of semiconductors is driving the organic substrate packaging material market.
Technological advancements are a key trend gaining popularity in the organic substrate packaging material market. Major companies operating in the organic substrate packaging material market are focused on developing new technological solutions to strengthen their position. For instance, in June 2021, Panasonic Holdings Corporation, a Japan-based provider of industrial products and solutions including capacitors, packaging, and sensors, launched a new substrate packaging material, R-1515V, which is expected to improve assembly-level reliability and lower the package warpage. Its optimized mechanical properties lower the residual stress on solder joints, created during reflow assembly, to improve the reliability of IC chips. The new material will allow addressing the critical challenge with the IC chips packaging process by lower thermal expansion.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Amkor Technology Inc., Advanced Semiconductor Engineering Inc., Compass Technology Co. Ltd., Hitachi Chemical Company Ltd., Mitsubishi Corporation, STATS ChipPAC Pte Ltd., NGK Spark Plug Co. Ltd., Shinko Electric Industries Co. Ltd., Showa Denko KK, Kyocera Corporation, WUS Printed Circuit Co. Ltd., Ajinomoto Group, Microchip Technology Inc., Texas Instruments Incorporated, Unimicron Technology Corporation, Ibiden Co. Ltd., AT&S Austria Technologie & Systemtechnik AG, Samsung Electro-Mechanics Co. Ltd., Amcor plc, Fujikura Ltd., Nippon Mektron Ltd., Tripod Technology Corporation, Compeq Manufacturing Co. Ltd., HannStar Board Corporation, Kingboard Chemical Holdings Ltd., Sumitomo Bakelite Co. Ltd., Panasonic Corporation, Nitto Denko Corporation, Rogers Corporation, Shenzhen Kinwong Electronic Co. Ltd., Unitech Printed Circuit Board Corporation, Young Poong Electronics Co. Ltd., CMK Corporation, Daeduck GDS Co. Ltd., Dynamic Electronics Co. Ltd., Flexium Interconnect Inc., Fujitsu Interconnect Technologies Ltd., Interflex Co. Ltd., LG Innotek Co. Ltd., Multek Corporation
Organic Substrate Packaging Material Market 2024 Key Insights:
• The organic substrate packaging material market size is expected to see strong growth in the next few years. It will grow to $18.53 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
• The Role Of Organic Substrate Packaging Materials In The Surge Of Self-Driving Vehicles
• Advancements In Technology Drive The Organic Substrate Packaging Material Market
• Asia-Pacific was the largest region in the organic substrate packaging material market share in 2023
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