Industry Outlook and Trend Analysis
The Semiconductor and IC Packaging Materials Market was worth USD 20.98 billion in 2014 and is expected to reach approximately USD 30.77 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.35% during the forecast period. Semiconductor and IC bundling materials are used to shield ICs or semiconductor products from outer ecological factors, for example, humidity and corrosion. These bundling materials are used alongside cutting edge technology keeping in mind the end goal to give most extreme security. These packaging materials shape a base of semiconductor devices for creation of end points to associate.
Drivers and Restraints
The perpetual R&D by key players towards making the electronic packaging materials exceedingly dependable is raising the development of the worldwide semiconductor and IC bundling materials market. The expanding demand for consumer electronics is increasing the market. The rising awareness about the value of electronic bundling materials in a wide range of applications is likewise giving a significant lift to the development of the market. Besides, the fluctuating costs of raw materials are unfavourably influencing the development of the market. Nonetheless, players are foreseen to tap enormous potential in developing economies keeping in mind the end goal to boost their revenue.
The global semiconductor and IC packaging materials market is segmented on the basis of material types as organic substrates, solder balls, bonding wires, die-attach materials, lead frames, encapsulation resins, and ceramic packages. The organic substrate segment is dominates the market. Organic substrates form a base of the semiconductor device and are produced by another layer to complete the circuit. This material is favoured over leading frames for industrial applications.
Regional Outlook and Trend Analysis
Asia Pacific is the leading section in the worldwide semiconductor and IC bundling market attributable to its expanding populace. Nonetheless, India and China are likewise developing as the worldwide pioneer in the semiconductor and IC bundling market because of expanding discretionary income and ideal condition for semiconductor industries. North America reflects a significant development in the semiconductor market. Europe is additionally foreseen to witness appeal for electronics products.
The leading players in the market are Sumitomo Chemical, Hitachi Chemical Company Ltd, BASF, Toray Industries, Mitsui High-tec Inc, LG Corp, Henkel, Alent and Tanaka Kikinzoku. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Semiconductor and IC Packaging Materials Market is segmented as follows-
By Material Type:
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?