Global Semiconductor Packaging Materials Market to Reach $20.8 Billion by 2024

A number of semiconductor industry growth drivers will power the surge including big data, high-performance computing (HPC), artificial intelligence (AI), edge computing, advanced memory, the 5G infrastructure build-out, 5G smartphone adoption, growth of electric vehicle adoption and enhanced safety features for automobiles. Packaging materials are key to the growth of these applications, enabling advanced packaging technologies that undergird the higher performance, reliability and integration of next-generation chips. Laminate substrates, the largest materials segment, will see a CAGR of over 5%, driven by demand for system-in-package (SIP) and high-performance devices. Wafer-level packaging (WLP) dielectric will register the highest growth with a 9% CAGR over the forecast period. The trend towards smaller, thinner packaging will dampen growth of leadframes, die attach, and encapsulant materials, though new technologies are being developed to enhance performance.

• Overall leadframe shipments are forecast to see a CAGR of just over 3%, with LFCSP (QFNtype) registering the strongest unit growth with a CAGR of nearly 7%.
• Encapsulation material revenue will register a CAGR of just under 3%, growth driven by rising demand for smaller, thinner packaging form factors.
• Die attach material revenue will grow at a CAGR of nearly 4%.
• Solder ball revenue will expand at a CAGR of 3%.
• The WLP dielectrics market is expected to increase by, a 9% CAGR.
• The wafer-level plating chemical market is forecasted at a CAGR of over 7%.