Electronic Packaging Market Size, Share, Industry, Forecast and outlook (2024-2031)

Electronic Packaging Market is segmented By Type (Corrugated Boxes, Paperboard Boxes, Thermoformed Trays, Bags & Pouches, Blister Packs & Clamshell, Protective Packaging, Others), By Material (Plastic, Metal, Glass, Paper, Others), By Technology (Electronic Article Surveillance (EAS), Radio-Frequency Identification (RFID), Through-Hole Mounting, Surface-Mount Technology (SMD), Chip-Scale Packages (CSP), Others), By Application (Semiconductor & IC, PCB, Silicon Piezoresistive Stress Sensors, Others), By End-User (Consumer Electronics, Aerospace & Defense, Automotive, Industrial, IT & Communication, Healthcare, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Report Overview

The Electronic Packaging Market report provides an analysis of the market size, current trends, competitive landscape, and future market outlook. The demand for electronic packaging is increasing due to the rapid growth of the electronics industry, particularly in the Asia-Pacific region. The increasing demand for portable electronics, such as smartphones, laptops, and wearables, is driving market growth. The competitive rivalry is intensifying, with major players such as Amkor Technology, ASE Technology Holding Co., Ltd., TDK Corporation and others actively operating in the market

Electronic packaging is defined as the design and production of enclosures for electronic devices ranging from individual semiconductors to complete systems such as mainframe computers. Efficient electronic packaging is used for 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 that protects from cooling, radio frequency noise emission, mechanical damage, and electrostatic discharge.

Additionally, it is used in several aerospace and army facilities packed with semiconductor devices such as information screen systems, information handling units, and control units for aircraft as it facilitates reduced board area decreased weight, and routing complexity at the PCB level. In addition, integrating electronics opens vast possibilities for the human interface, and higher density efficient battery technologies imply that the electronic packaging market share would undergo significantly high growth during the forecast period.

Furthermore, THIMM carried out a packaging optimization project for the Hager Group, one of the world's leading providers of systems, solutions, and services for electrical installations in buildings. The European optimization project resulted in an annual seven-figure savings potential. For instance, the electronics packaging design was optimized and resulted in annual savings of 300,000 square meters of corrugated cardboard. In addition, the packaging print was also decreased from 60 to 10%, which means a clear brand impression with the electronics packaging.

Electronic packaging market study analysis offers an in-depth outlook on the market containing quantitative and qualitative data. It gives an outlook and forecast of the global market based on market segmentation. It also provides global electronic packaging market size, and growth, along with the latest trends, opportunities, and forecast till 2029 for the global market with esteem to major countries such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and rest of the countries over the globe.

Among all regions, the North American electronic packaging market is expected to hold the largest share of the global market over the forecast period. Whereas the European electronic packaging market is projected to continue its presence globally from 2023 to 2030.

Market Scope and Summary

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Market Dynamics and Trends

The increasing inclination of consumers toward high-quality military-grade packaging is triggering the demand for electronic packaging in recent times. Growing demand for eco-friendly packaging creates a strong opportunity for the electronic packaging market growth.

Increasing demand for electronic packaging from consumer electronic products is expected to increase the market size

The commoditization of consumer electronics products, changing consumer buying patterns, and decreasing product life cycles are significant factors driving the growth of the electronics packaging market. Moreover, the rise in the adoption of consumer electronic devices such as smartphones, wearable devices, television, digital cameras, and tablets contain innovative packaging products such as air bubble wraps and air pillows to protect from harsh weather conditions primarily driving the market growth. In addition, demand for all-weather protective packaging for fragile electronic products such as routers, network servers, and sensors. Also, the growing penetration of smart computing devices and mobile phones in different developing economies is anticipated to boost the market's growth.

Rising demand for high-quality military-grade packaging in various sectors is expected to boost the market growth

The demand for high-quality military-grade packaging in the aerospace & defense sector for naval warships, weapon control systems, data display systems, satellite communication onboard channels, and aircraft guidance-control assemblies further drive the electronic packaging market revenue. In addition, the growth of the IoT network market and continued investments in R&D to enable productive electronic and semiconductor packaging is expected to present new pathways to the electronic packaging industry.

Moreover, the leading electronic packaging market players adopt the necessary methods to develop prime solutions for integrating flexible electronics, including high-performance batteries and compact electronic packaging. Moreover, in May 2020, Curtiss-Wright, a global diversified product manufacturer and service provider, launched a new miniature Data Acquisition System (DAC) family to provide a balanced square form factor to system designers.

Slow production, complexity, and difficulty in the detection of defect is expected to hinder the market growth

Time-consuming design that is expected to slow down the production of the product is the key factor that hinders the market's growth. In addition, potential reliability issues, as it is prone to stress and complex, difficult maintenance of defects after components are soldered onto the circuit board, tend to restrain the market growth. Moreover, rising intolerance towards plastic, changing consumer preferences, shifting regulatory environment, and lowering average disposable income levels are some of the major factors hampering the growth of the electronic packaging market.

Segmentation and Shares

By Type: Corrugated Boxes, Paperboard Boxes, Thermoformed Trays, Bags & Pouches, Blister Packs & Clamshell, Protective Packaging, and Others

By Material: Plastic, Metal, Glass, Paper, and Others

By Technology: Electronic Article Surveillance (EAS), Radio-Frequency Identification (RFID), Through-Hole Mounting, Surface-Mount Technology (SMD), Chip-Scale Packages (CSP), and Others

By Application: Semiconductor & IC, PCB, Silicon Piezoresistive Stress Sensors, Others

By End-User: Consumer Electronics, Aerospace & Defense, Automotive, Industrial, IT & Communication, Healthcare, Others

Electronic packaging of many memory devices, processors, discrete power devices, sensors, and analog and digital circuits is integrated with electric and hybrid vehicles hence transforming the automotive landscape through the transition from the mechanical system to electronic assemblies. 

A semiconductor packaging is a metal, glass, plastic, or ceramic shelter containing isolated semiconductor devices or integrated circuits. In semiconductor packaging, discrete or individual components are fabricated on semiconductor wafers such as silicon to be diced into tested, die, and packaged. This electronic packaging defends electronic devices from threats such as light exposure, mechanical impact, and chemical contamination. The high demand for semiconductor manufacturing technology in electronic devices, which are being used in the aerospace & defense, healthcare, and electronics sectors, propels the market's growth.

Moreover, the automotive electronics industry held the highest semiconductor packaging growth segment, with a significant CAGR. In the automotive vehicle industry, electronic packaging is frequently essential for the performance and reliability of the chips. In addition, electronic packaging in the automotive industry offers high performance and low power by avoiding an accident in driver-assisted and autonomous vehicles. It considerably reduces the amount of time taken to bring automotive chips and features to market, and it guards chips against harsh environments like electromagnetic interference and thermal extremes, ultimately driving the market's growth.       

Alternatively, the consumer electronics industry is expected to witness fast growth at a significant CAGR during the forecast period. This is because electronics packaging for consumer electronics products offers better protection from static discharge, more protection from physical damage during storage and transportation, eradicates contamination through clean packaging, decreases time-to-market and total packaging costs, fit proper part specifications for a custom fit and simple inspection without the risk of damage or costly re-pack methods are eventually driving the growth of the market.

Geographical Analysis

Based on geography, the electronic packaging market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa. The demand for electronic packaging in the North American market is expected to remain at the dominant position in sales and value generation due to the growing volume of trade and e-commerce in countries such as the U.S.

APAC is expected to witness the fastest growth of the electronic packaging market during the forecast period

APAC is expected to witness the fastest growth rate for the electronics packaging market during the forecast period. China is considered the global electronic hub because of the mass production and manufacturing of electronics & electrical components products to meet the highest performance, quality, and delivery standards. Therefore, the companies in the region are also investing in installing machinery that enables productive electronic and semiconductor packaging. This gives significant growth potential to the electronic packaging market.

For instance, in 2019, KraussMaffei announced that it would debut a locally produced all-electric injection molding machine named PX Agile at Chinaplas. The new PX Agile is typical for standard applications like electric and electronic devices, technical components, electronic packaging, and medical industries.

Moreover, an increment in discretionary spending by the middle class across the region on consumer electronics products such as smartphones, wearable electronics, tablets, televisions, etc., is boosting the APAC consumer electronics packaging market growth. In addition, In 2018, China seized a significant share of the regional market in terms of revenues, and the trend is expected to last over the next few years. As a result, the APAC electronics packaging market was estimated at more than USD 7,999.89 million in 2018; the market is expected to grow at a significant CAGR throughout the forecast period.

Changing customer purchasing trends in supermarkets, for instance, purchasing consumer electronic goods, is pushing the growth of electronic packaging products in North America. This changing purchasing pattern has decreased the cost of expensive operations on the customer's hand and has raised the demand for storage goods from consumer electronics. In addition, it also experiences a requirement for single, environmentally sound, and easy-to-use packaging of consumer electronics. Also, the North American electronics packaging market reached a valuation of USD 3,888 million in 2017 and is expected to register a significant CAGR during the forecast period.

Electronic Packaging Companies and Competitive Landscape

The electronic packaging market is fragmented with the presence of regional and global players. The competitive contour lies with the increase in the regional company and growing investment in upstream applications. AMETEK Inc., UFP Technologies, Inc., du Pont de Nemours and Company, Sealed Air Corporation, Dordan Manufacturing Company, DS Smith, GY Packaging, Primex Design & Fabrication, Smurfit Kappa, Sonoco Products Company are the major player in the packaging market. The major players adopt several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the electronic packaging market globally.

UFP Technologies, Inc.

Overview: The company is established in 1963 and headquartered in Newburyport, Massachusetts. UFP Technologies is a medical manufacturer and designer of sub-assemblies, components, packaging, and custom devices utilizing extremely specialized films, plastics, and foams. The company's single-patient and single-use components and devices are utilized in a broad range of infection prevention, disposable wound care, minimally invasive surgery, medical devices, orthopedic soft goods, orthopedic implants, and wearables packaging.

UFP Technologies is diversified in also offering highly engineered components and products to consumers in the defense, automotive, aerospace, industrial, and consumer electronics markets. Ideal applications include gear components and military uniforms, athletic padding, automotive interior trim, air filtration, environmentally friendly protective packaging, abrasive nail files, and protective cases.

Product Portfolio: 

• Protective Cases & Inserts
  • UFP Technologies specializes in fabricating & designing protective foam & case insert solutions. The company's precision fabricating capabilities, protective packaging design expertise, and access to a broad range of protective cases & packaging foams offer the user a complete protective case and insert provider. Moreover, the company offers a depth of fabrication capabilities ranging from water-jet cutting, die-cutting, and CNC routing to create the most special case insert. UFP Technologies also provides complete turn-key solutions.
• Molded Fiber Packaging
  • UFP Technologies is a growing designer and manufacturer of molded fiber packaging solutions made from 100% recycled paper. The company offers cost-effective and environmentally friendly solutions to decrease labor and save space while offering superior protection at every stage of a product's sales cycle. In addition, as a process and a material, molded fiber is an excellent protective packaging medium. The inherent flexibility of molded pulp provides substantial cushioning qualities, and the geometry that the company incorporates into each design lends strength to each part.
• Material Handling
  • As an innovative manufacturer and designer of custom packaging systems, UFP Technologies has the expertise to develop reusable and returnable packaging systems used for material handling. Moreover, material handling packaging systems are most commonly used for intra and inter-plant transfer and shipments where vibration and shock protection and characteristics such as class A or ESD control surface protection are essential.

The global electronic packaging market report would provide an access to an approx. 77 market data tables, 86 figures, and 180 pages.