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(I-AutoNewsWire.com, September 22, 2021 )
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 during consumer electronic products such as smartphones, TVs, tablets, set-top boxes, 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 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, 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.
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The increasing inclination of consumers towards 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 of electronic packaging from consumer electronic product 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 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 drive 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 of high-quality military-grade packaging in various sector 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 on-board 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 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 difficult in 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.
Electronic Article Surveillance (EAS)
Radio-Frequency Identification (RFID)
Semiconductor & IC
Aerospace & Defense
IT & Communication
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Based on the 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 in 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 a 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 consumers 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 in 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.
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 application. 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.
Consumer Electronics Packaging Market, Aseptic Packaging Market, Bioplastic Packaging Market, Retort Packaging Market, Aerosol Packaging Market
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