The global electronic packaging market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 18.51% during 2023–2031. The growth of the market is attributed to the rising demand for products such as set-top boxes, digital cameras, smartphones. wearable devices, and TV sets.
Electronic packaging is designing and production of enclosures of electronic devices ranging from individual semiconductors to complete systems such as mainframe computer. This packaging protects the product from mechanical damage, radio frequency noise emission, and electrostatic discharge. Electronic packaging is used to carry electronic machinery and their interconnection. Some of the functions of this packaging are mechanical support, heat dissipation, and environmental protection.
Efficient electronic packaging is done during manufacturing of consumer electronic products such as smartphones, TVs, tablets, set-top boxes, and digital media adapters to protect from electrostatic discharge, water, harsh weather condition, corrosion, and dust. It is used in several army and aerospace facilities, which are packed with semiconductor devices such as information handling units, information screen system, and control units for aircraft, as it facilitates reduced board area, decreased weight, and routing complexity.
The packaging of communication ICs, memory power management devices, and mixed-signal ICs has become crucial as these products have increased its applications in clinical diagnostics, therapy, and medical imaging. Electronic packaging materials have high-quality electrical insulation, which seals the IC material. This packaging refers to the enclosure for passive devices and fabrication of circuit cards.
Integrating electronics opens vast possibilities for the human interface and higher density efficient battery technologies, implying that the electronic packaging market is anticipated to undergo significant changes in the coming years.
Electronic Packaging Market Trends, Drivers, Restraints, and Opportunities
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Increasing number of memory devices, processors, discrete power devices, and sensors used in electric and hybrid vehicles is anticipated to propel the market growth during the forecast period.
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Rising adoption of consumer electronic devices such as smartphones, tablets, wearable devices, television, and digital cameras containing innovative packaging products such as air bubble wraps and air pillows drive the market growth.
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Growing demand for all weather protective packaging for fragile electronic products such as routers, network servers, and sensors is speculated to fuel the electronic packaging market growth in the coming years.
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Leading electronic packaging market players are adopting innovative methods to develop solutions for integration of flexible electronics, including high performance batteries that can offer compact electronic packaging. This, in turn, can spur the market growth during the forecast period.
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Increasing use of smart computing devices and mobile phones in developing economies is anticipated to boost the market growth.
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Growing intolerance towards plastic, changing consumer preferences, shifting regulatory environment, and falling average disposable income levels owing to the COVID-19 pandemic can hinder the market growth.
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Rapid growth of IoT network market and increasing investment in the R&D activities to enable innovative electronic and semiconductor packaging is expected to present new market avenues to the electronic packaging market.
Scope of Electronic Packaging Market Report
The report on the global electronic packaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Electronic Packaging Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Materials (Plastic, Metal, Glass, and Others) and End-user Industries (Consumer Electronics, Aerospace & Defense, Automotive, Healthcare, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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AMETEK.Inc., Dordan Manufacturing Company, DS Smith, DuPont, GY Packaging, Primex Design & Fabrication, Sealed Air, Smurfit Kappa, Sonoco Products Company, and UFP Technologies, Inc.
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Electronic Packaging Market Segment Insights
Metal segment is projected to account a large market share
Based on materials, the market is divided into plastic, metal, glass, and Others. The metal segment is expected to hold a key market share during the forecast period. This is due to the fact that metal is mechanically strong, provides electromagnetic shielding, and can be easily made for prototypes and small production runs with minimum custom tooling expense.
Aerospace & Defense segment to register at a substantial CAGR
On the basis of end-user Industries, the market is segmented into consumer electronics, aerospace & defense, automotive, healthcare, and others. The aerospace & defense segment is anticipated to register a substantial CAGR during the forecast period due to increasing demand for military and aerospace equipment, such as data processing units, data display systems, computers, and aircraft guidance-control assemblies.
Asia Pacific to exhibit a high CAGR
In terms of regions, the market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the market during the forecast period owing to rising number of government initiatives in countries such as India and China to increase the mass manufacturing and production of electrical components and electronics products.
Segments
The global electronic packaging market has been segmented on the basis of
Materials
- Plastic
- Metal
- Glass
- Others
End-user Industries
- Consumer Electronics
- Aerospace & Defense
- Automotive
- Healthcare
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the electronic packaging market include AMETEK.Inc., Dordan Manufacturing Company, DS Smith, DuPont, GY Packaging, Primex Design & Fabrication, Sealed Air, Smurfit Kappa, Sonsoco Products Company, and UFP Technologies, Inc.
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