Microelectronics Packaging Market - Global Industry Analysis, Growth, Trend, Forecast 2024

Microelectronics packaging is used to protect the chip so that it is not affected or less influenced by the outside sources and to provide decent working conditions for normal functioning. To keep pace with the growing demands imposed by high performing chips and by end-use system applications the microelectronics packaging market is experiencing a significant growth. Microelectronics packaging involves the use of various engineering and other technologies to incorporate protective features and in built security in the packaging of products. This microelectronics packaging market is gaining importance as it reduces wastage and enhances safety and security, convenience and product differentiation. Globally the acceptance of microelectronics packaging is increasing with rising awareness among the manufacturers. Influence of customer demand on packaging is one of the prime driver for microelectronics packaging market.

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Technological advancements in printed electronics is a common trend observed in recent years. High cost of microelectronics packaging is one of the major challenge faced by the microelectronics packaging market. Manufacturers around the world are all in the effort to research and improvement of the microelectronic packaging industry in order to get leading position in technology. Market for microelectronics packaging material like metals, ceramics, glass, polymer, etc. is also expected to increase during forecast period. Single chip to chip development and planer to 3D packaging development are some of the future key development trends for the microelectronics packaging market anticipated to be observed during forecast period.

Based on the number of package combination circuit chip the microelectronics packaging market is segmented into:

Single chip packaging (SCP)

Multi-chip package (MCP)

Based on the seal material the...