Global Organic Substrate Packaging Material Market is forecasted to grow by USD 3.51 billion during 2022 to 2027

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Nov 07, 2023, 04:15 ET

NEW YORK, Nov. 7, 2023 /PRNewswire/ -- The organic substrate packaging material market size is estimated to grow at a CAGR of 4.7% between 2022 and 2027. According to Technavio, the market is segmented by application (consumer electronics, automotive, manufacturing, healthcare, and others), technology (SO packages, GA packages, flat no-leads packages, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

Technavio has announced its latest market research report titled Global Organic Substrate Packaging Material Market 2023-2027

Key Drivers	Key Trends	Challenges
Surge in global demand for consumer and smart electronic devices, driving growth in integrated circuit (IC) adoption.	Rising incorporation of semiconductor integrated circuits (ICs) in vehicles due to safety regulations and advanced electronics demands.	Suppliers facing difficulties in meeting precise material specifications required by packaging and testing laboratories.
Rising integration of ICs in automobiles due to increased demand for safety electronics and advanced features.	Growing focus on sustainability driving the development and adoption of green packaging materials and processes.	Navigating increasingly stringent environmental regulations, particularly in developed countries, regarding hazardous substances and waste management.
Challenges related to stringent regulations for organic substrate packaging materials, including material specifications and environmental compliance.	Anticipated surge in demand for organic substrate packaging materials due to the energy-efficient and feature-rich nature of 5G smartphones.	Pressure to adhere to specifications for lead-free packaging materials integrated with chips, epoxy resins, and wires.
Growing emphasis on environmentally friendly packaging solutions	Challenges arising from meeting strict material specifications and environmental regulations for organic substrate packaging materials.	Compliance with regulations for recovering and recycling end-of-life electronic products

The organic substrate packaging material market is being driven by key regions worldwide

The global organic substrate packaging material market is driven by key regions worldwide. Asia-Pacific's technology-rich nations lead innovation, North America emphasizes advanced electronics, Europe sees IC integration in automobiles, and even in MEA and South America, portable electronics and IoT adoption drive demand for organic substrate packaging materials.

The market is driven by increasing demand for consumer electronics, growing integration of ICs in automobiles, stringent environmental regulations, and rising adoption of advanced electronic devices worldwide. For more information, take a look at Technavio's sample report here!

The research analysis provided by Technavio also contains an in-depth study of the market's competitive landscape and data on major companies, including:

ASE Technology Holding Co. Ltd.
AT and S Austria Technologie and Systemtechnik Aktiengesellschaft
Compass Technology Co. Ltd.
DuPont de Nemours Inc.
Fujikura Co. Ltd.
Kyocera Corp.
Micro Systems Technologies Management GmbH
Mitsubishi Electric Corp.
Niterra Co. Ltd.
Resonac Holdings Corp.
Rogers Corp.
Samsung Electronics Co. Ltd.
Shinko Electric Industries Co. Ltd.
Sumitomo Bakelite Co. Ltd.
TAIYO YUDEN Co. Ltd.
TDK Corp.
TONG HSING Electronics Industries Ltd.
TTM Technologies Inc.
Zhen Ding Technology Holding Ltd.

The consumer electronics segment is experiencing rapid growth, fueled by the expansion of the smartphone market, adoption of wearable and smart products, and increasing consumer IoT devices, particularly with the emergence of high silicon 5G smartphones.

The organic substrate packaging material market is driven by the increase in global demand for consumer electronics and smart devices, alongside the integration of ICs in automobiles. Despite challenges led by stringent regulatory compliance and environmental regulations, key regions such as Asia-Pacific, North America, and Europe are steering the market's progress. As the consumer electronics segment sees remarkable expansion, particularly with the advent of 5G smartphones, the industry's innovation and responsiveness to sustainability concerns will play a significant role in shaping its growth over the forecast period. Buy the detailed report now, to make informed decisions.

Few related reports:

Ceramic Substrate Market: The ceramic substrate market share is expected to increase by USD 2.27 billion from 2021 to 2026, and the market's growth momentum will decelerate at a CAGR of 6.3%.

Glass Substrate Market: The glass substrate market share is expected to increase by USD 616.14 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.92%.

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SOURCE Technavio