The global panel level packaging market is anticipated to be valued at USD 2.1 billion in 2023. A valuation of around USD 8.5 billion is expected for the market by 2033. It is set to exhibit staggering growth at a CAGR of 14.9% in the forecast period from 2023 to 2033.
In order to enable them to bring wafer-level precision to packed operations on panel substrates, manufacturers are pushing their suppliers to deliver panel-processing equipment and materials. Panel level packaging (PLP) is anticipated to become a critical packaging technique.
Field-programmable gate arrays (FPGA), central processing unit, graphics processing units, power management integrated circuit modules, baseband, and other components are packed using this packaging. The technique increases design flexibility while lowering the cost of circuit packaging.
Renowned players such as ASE, Powertech, Nepes, and Samsung expect development of panel level packaging, which offers economies of scale. These companies are developing or enhancing panel level fan-out packaging to reduce the cost of advanced packaging.
Wafer-level fan-out is one of the numerous varieties of advanced packaging that enables the integration of dies, micro-electromechanical systems, and passives into a single integrated circuit package. The 200mm or 300mm round wafer sizes are made using this technology, which has been around for a while.
Through knowledge sharing and collaborative research and development, market participants in the semiconductor industry are planning to create next-generation semiconductor packaging solutions. One of the significant examples is the Jisso Open Innovation Network of Tops 2 (JOINT2) consortium.
It consists of 12 businesses researching semiconductor substrates, equipment, and packaging materials. It was announced by Showa Denko Materials Co. Ltd in October 2021. Large fan-out panel level packaging for application processors was another goal of the project.
Current state of the industry is disorganized as panel-level processing combines high-density interconnect toolsets, wafer-level, printed circuit board, and liquid-crystal display. However, given the advantages panel-level packaging may offer if used for volume manufacture, ongoing semiconductor scarcity and supply chain issues have opened up new prospects. Advantages that led to the adoption of wafer-level packaging such as reduced costs and enhanced performance, are now leading to the adoption of panel level packaging.
| Attributes | Key Insights |
|---|---|
| Panel Level Packaging Market Estimated Size (2023E) | USD 2.1 billion |
| Projected Market Valuation (2033F) | USD 8.5 billion |
| Value-based CAGR (2023 to 2033) | 14.9% |
| USA Value-based CAGR (2023 to 2033) | 14.2% |
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Future Market Insights, in a new study, mentioned that the global panel level packaging market is set to exhibit a CAGR of 14.9% from 2023 to 2033. The market exhibited a considerable CAGR of around 18.6% in the historical period from 2018 to 2022.
Small, light, and highly portable devices are already commonplace thanks to the miniaturization trend in consumer electronics sector. Consumer gadgets are continually improving, becoming lighter, more energy-efficient, and inventive, as compared to their traditional counterparts.
This raises huge expectations for the upcoming version, which is a key selling element for companies who make consumer electronics. Complicated and changing needs of the consumer electronics sector can be met with the aid of advanced semiconductor packaging technologies, including panel level packaging.
| Attributes | Details |
|---|---|
| Historical CAGR | 18.6% |
| Historical Market Value (2022) | USD 1.8 billion |
| Forecast CAGR | 14.9% |
Demand for Panel Level Packaging to Boom with Miniaturization of Consumer Electronics
As integrated circuits technology is developing, there is a rising need to package numerous electronics components in a small space. Integrated circuits packaging technology that helps in the packaging of several components on the same substrate is referred to as panel level packaging technology.
The technology is useful in consumer electronics in designing ultra-thin portable products such as smartphones, smart gadgets, and smart watches. These are small packages with multiple applications and less energy consuming entities.
In internet of things (IoT), a small electronics module containing large electronic components can perform multiple tasks by consuming less power. Fan-out wafer level packaging technology is being used in most internet of things devices.
As of May 2022, total number of connected internet of things devices is 14.4 billion worldwide. By 2027, total number of inter-connected internet of things devices in the whole world is expected to be 27 billion.
This implies that massive growth opportunities are available for fan-out wafer level packaging devices manufacturers. High-density fan-out wafer level packaging is used in applications such as antennas in the packaging of 5G mm wave modules and smartphone application processors.
Fan-out wafer level packaging technology is also used in automotive radar applications. In high performance computing (HPC), panel level technology is being extensively used. For instance, TSMC, an electronics manufacturer, produces chip on wafer (CoW) and wafer on wafer (WoW) technology that is used in high performance computing (HPC) applications.
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Presence of Several Semiconductor Companies in the USA to Propel Sales of Panel Level Package
The USA panel level packaging market is expected to reach a valuation of USD 1.4 billion by 2033. It is likely to exhibit a CAGR of 14.2% from 2023 to 2033. The country is projected to create an incremental opportunity of around USD 1.0 billion in the forecast period.
As semiconductors become the fundamental building elements of all modern technology, the semiconductor business is expanding quickly. The USA market is set to be driven by developments and breakthroughs in this industry, which have a direct impact on all downstream technologies.
Development of Manufacturing Facilities by Key Panel Packaging Companies to Boost Sales in the United Kingdom
United Kingdom panel level packaging industry is anticipated to surge at 13.2% CAGR in the forecast period. A valuation of about USD 227.2 million is projected to be witnessed by the country in 2033. It showcased a CAGR of 13.7% in the historical period between 2023 and 2033.
In September 2022, for instance, SPTS Technologies, a United Kingdom-based advanced panel level packaging solutions manufacturer announced that an investment of USD 100 million was made from its parent company KLA Corporation. It wants to set up a research and development center and a manufacturing center in Newport, Wales, United Kingdom.
Such state-of-the-art infrastructure is being built in the country in order to develop advanced wafer processing solutions. Hence, similar progress by manufacturing companies to meet the rising demand for advanced panel level packaging solutions would help the market to expand.
Trend for Miniaturization in South Korea to Boost Demand for Panel Level Package
South Korea panel level packaging market is likely to reach a valuation of USD 516.4 million by 2033. It is anticipated to create an absolute dollar opportunity of about USD 392.7 million in the assessment period. A CAGR of 15.4% is estimated to be showcased by the country between 2023 and 2033.
Pressure on packaging providers in South Korea has intensified as a result of the ongoing trend of miniaturization in numerous industries, including consumer electronics and automobiles. For the last five years, a switch from flip-chip to wafer level packaging has been observed in the country. The next form of advanced packaging, however, is moving away from 300mm wafer-level packaging and towards panel-level packaging.
Increasing Demand for Consumer Electronics in China to Augment Need for Panel Level Package Process
China panel level packaging market is set to be worth USD 2.1 billion by 2033. It is likely to showcase a CAGR of 16.4% in the estimated time frame and create an incremental opportunity of USD 1.7 billion in the same period.
One of the key end users in the China market is consumer electronics. Significant drivers of growth include ongoing expansion of the smartphone market, rising use of smart devices & wearables, and increasing penetration of internet of things-based devices in applications such as smart homes.
Demand for Panel Level Package Process to Skyrocket among Consumer Electronics Manufacturers
Based on end user, the consumer electronics segment is anticipated to dominate the global market for panel level packaging, says Future Market Insights. A fresh wave of advancements in electronic packaging is being driven by consumer gadgets such as smartphones.
Every year, consumer electronics sales rise as a result of a significant increase in terms of demand for panel-level packaging in numerous nations. Berlin's Fraunhofer IZM, for instance, has moved its focus to embedding and die placement technologies for ultra-fine-line manufacturing with the creation of its second consortium from 2020 to 2022. Benefits of the project and the project's progress include installation of new panel level packaging equipment before Panel Level Packaging Consortium 2.0.
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A few key players in the global panel level packaging market are Amkor Technology Inc., Deca Technologies, Lam Research Corporation, ASE Group, Siliconware Precision Industries Co., Ltd., Fraunhofer Institute, SPTS Technologies, Stats ChipPac, Qualcomm Technologies, Samsung, and TSMC.
The market is highly consolidated with the presence of the aforementioned key companies. These businesses control a sizable portion of the market. However, more businesses will engage in significant research & development, as well as market development initiatives in the next ten years to provide competitive panel level packaging technologies.
Few of the recent developments in the panel level packaging market are:
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 2.1 billion |
| Projected Market Valuation (2033) | USD 8.5 billion |
| Value-based CAGR (2023 to 2033) | 14.9% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD billion) |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, Gulf Cooperation Council countries, North Africa, South Africa, others. |
| Key Segments Covered | Integration Type, Carrier Type, End User, Region |
| Key Companies Profiled | Amkor Technology Inc.; Deca Technologies; Lam Research Corporation; ASE Group; Siliconware Precision Industries Co. Ltd.; Fraunhofer Institute; SPTS Technologies; Stats ChipPac; Qualcomm Technologies; Samsung; TSMC |
| Report Coverage | Market Forecast, Company Share Analysis, Competitive Landscape, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The growing number of patients who require enteral feeding, the increasing demand for home enteral feeding, and the development of new technologies for enteral feeding devices.
The key Asian countries in the panel-level packaging market are China, South Korea, and Japan.
The high cost of entry is the key barrier to entry for new players in the panel-level packaging market. This is due to the need for specialized equipment and skilled workers.
Investing in research and development to differentiate offerings from competitors, Building strong relationships with customers and suppliers, Developing a strong marketing and sales strategy, and Maintaining a high level of quality control.
The growing demand for high-performance electronic devices, the increasing adoption of new technologies, and the rising disposable income of consumers.
1. Executive Summary | Panel Level Packaging Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Integration Type 5.1. Fan-in Panel Level Packaging 5.2. Fan-out Panel Level Packaging 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Carrier Type 6.1. 200 mm 6.2. 300 mm 6.3. Panel 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Consumer Electronics 7.2. IT & Telecommunication 7.3. Industrial 7.4. Automotive 7.5. Aerospace & Defense 7.6. Healthcare 7.7. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Amkor Technology Inc. 16.2. Deca Technologies 16.3. Lam Research Corporation 16.4. ASE Group 16.5. Siliconware Precision Industries Co., Ltd. 16.6. Fraunhofer Institute 16.7. SPTS Technologies 16.8. Stats ChipPac 16.9. Qualcomm Technologies 16.10. Samsung 16.11. TSMC 17. Assumptions & Acronyms Used 18. Research Methodology
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Panel Level Packaging Market
