Electronic Packaging Market-Overview
The need for durable packaging for electronic products is estimated to enhance the electronic packaging market 2020. The semiconductor and electronics industry reports are created by Market Research Future, which illustrates market options for expansion. The market is estimated to attain an income worth USD 2254.49 Million by 2025 by registering a CAGR of 16.10% in the impending period.
The mounting demand for consumer electronics is estimated to play a vital role in the development of the electronic packaging market share in the forecast period. Moreover, the steadily rising demand for smartphones is estimated to spur the electronic packaging market in the approaching period.
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The important contenders in the electronic packaging market are Xilinx Inc. (US), Dordan Manufacturing Company (US), GY Packaging, (US), Plastiform Inc. (US), Kiva Container Corporation (US), Samsung Electronics Corporation Ltd (South Korean), The Box Co-Op (US), Quality Foam Packaging Inc. (US), Sealed Air Corporation (US), DuPont de Nemours, Inc. (the US), UFP Technologies, Inc. (US), AMETEK Inc. (US), Intel Corporation (US), STMicroelectronics NV (Switzerland), AMS AG (Austria), Primex Design & Fabrication (US), Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan), among others.
The segmental assessment of the electronic packaging market has been conducted based on packaging technology, end-user, material, and region. On the basis of material, the electronic packaging market has been segmented into metal, plastic, glass, and others. Based on the packaging technology, the electronic packaging market has been segmented into surface surface-mount technology (SMD), through-hole mounting, and chip-scale packages (CSP). Based on the end-user, the electronic packaging market has been segmented into automotive, aerospace & defense, telecommunication, consumer electronics, and others. Based on the region, the electronic packaging market has been segmented into Asia-Pacific, North America, Europe, and the rest of the regions in the world.
Detailed Regional Analysis
The regional evaluation of the electronic packaging market is segmented into regions such as Asia-Pacific, North America, Europe, and the rest of the regions in the world. The Asia-Pacific region controlled the electronic packaging market in the year 2018 and is anticipated to direct the market’s development in the forecast period. The intensifying demand for consumer electronics across the region is estimated to contribute to the expansion of the market in the forecast period. Furthermore, the growing population levels and escalating disposable income in the region are a few of the main factors which are escalating the demand for consumer electronics. This development is further enhancing the augmentation of the electronic packaging market in the region. Moreover, a chief market driver for the region is its domination in the manufacture of semiconductor devices around the world. The key players in the semiconductor packaging market have manufacturing amenities in the Asia-Pacific, which has led to the quicker advance of electronic packaging technologies and permitted the effortless accessibility of products to the market.
The restoration and everyday operations are estimated to take some time, which will lead to intensive development of backlog in delivery. The financial assistance provided by the government around the world and trade bodies is estimated to salvage the situation in the coming years. The downturn effects visible in the market are estimated to stay a little longer due to the scale of impact on the global market. The need for prudent analysis of the market trends and demand projections is estimated to lead to formidable development in the market. The instability in the forces of demand and supply is estimated to create a beneficial impact on the overall global market in the forecast period. The constraints of growth are expected to be significant and considerable support will be needed to transform the market effectively. The need to build sustainability into the core assets of the companies will help companies’ battle situations like the current pandemic more effectively.
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