Semiconductor and IC Packaging Materials Market Expected to Be Biggest Emerging Market by 2024
Sarasota, FL -- (SBWIRE) -- 07/17/2017 -- Global Semiconductor and IC Packaging Materials Market: Overview
Semiconductor and IC packaging materials are used to protect ICs or semiconductor products from external environmental factors such as corrosion and humidity. These packaging materials are used along with advanced technology in order to provide maximum protection. These packaging materials form a base of semiconductor devices for fabrication of end points to connect.
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Global Semiconductor and IC Packaging Materials Market: Growth Factors
Companies spending the large amount of R&D is expected to boost the market in future. Companies focus on supplying a better solution for electronic packaging materials, which is anticipated to enhance the global market growth in near future. However, huge demand for electronic products propels the growth of the global semiconductor and IC packaging materials market. These materials are used in numerous end-use applications by electronic industries, which in turn is anticipated to boost market growth in future. Advancement in technology also propels the semiconductor and IC packaging materials market.
Global Semiconductor and IC Packaging Materials Market: Segmentation
The global semiconductor and IC packaging materials market is segmented on the basis of material types as solder balls, organic substrates, lead frames, die-attach materials, encapsulation resins, bonding wires, and ceramic packages. Of which, the organic substrates segment is the dominating segment. Organic substrates form a base of the semiconductor device and are fabricated by another layer to complete the circuit. This material is preferred over leading frames for industrial use.
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Global Semiconductor and IC Packaging Materials Market: Regional Analysis
Asia Pacific is the leading segment in the global semiconductor and IC packaging market owing to its increasing population. However, India and China are also emerging as the global leader in the semiconductor and IC packaging market due to increasing disposal income and favorable condition for semiconductor industries. Asia-Pacific is expected to remain the major contributor in the market due to higher investment on electronics applications, low labor cost, low-cost production, and easily available raw materials. Taiwan and South Korea accounted for largest market share owing to rapidly developing electronics & semiconductor industries. North America shows a significant growth in the semiconductor market. Europe is also anticipated to witness high demand for electronics products.
Global Semiconductor and IC Packaging Materials Market: Competitive Players
Some of the key players in the global semiconductor and IC packaging materials market are Tanaka Holdings Co. Ltd., Hitachi Chemical Co. Ltd., Toray Industries Corporation, Sumitomo Chemical Co. Ltd., LG Chemical Ltd., Mitsui High-Tec Inc., Alent PLC, BASF SE, Henkel Ag & Company, and Kyocera Chemical Co. Ltd.
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