April 20, 2024
Memory Packaging Market

Memory Packaging Is Estimated To Witness High Growth Owing To Increasing Deployment Of Smart Consumer Electronic Devices

Memory packaging involves processes and materials used to house an integrated circuit on a printed circuit board. It provides mechanical and environmental protection to safeguard memory chips from physical damage and prevent electromagnetic interference issues. Memory packaging solutions enable faster transfer of data between memory modules and processing units. The growing adoption of electronic devices with high-performance requirements such as smartphones, laptops, tablets and gaming consoles is driving the demand for advanced memory packaging technologies.

The Global Memory Packaging Market is estimated to be valued at US$ 32.35 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2030.

Key players operating in the Memory Packaging market include 3M, Aremco, Creative Materials Inc., Dow, H.B. Fuller Company, Henkel AG & Co. KGaA, HITEK Electronic Materials Ltd, Master Bond Inc., MG Chemicals, Panacol-Elosol GmbH, Parker Hannifin Corp., Permabond LLC, and Bostik.

Key Takeaways

Key players: Key players operating in the Memory Packaging market are 3M, Aremco, Creative Materials Inc., Dow, H.B. Fuller Company, Henkel AG & Co. KGaA, HITEK Electronic Materials Ltd, Master Bond Inc., MG Chemicals, Panacol-Elosol GmbH, Parker Hannifin Corp., Permabond LLC, and Bostik.

Key opportunities: Rising demand for mobile and wearable devices particularly in developing countries is creating new growth avenues. Developments in miniaturization technologies to develop advanced packaging solutions suitable for IoT devices will further expand the market size.

Global expansion: Major players are investing in R&D to develop innovative solutions catering to emerging memory applications. Strategic partnerships with foundries and collaboration with memory chip manufacturers helps global players strengthen their foothold. Increasing manufacturing facilities particularly in Asia Pacific region aids expansion of global footprint.

Market drivers: The major driver for the Memory Packaging Market Growth is the increasing deployment of smart consumer electronic devices such as smartphones, tablets, gaming consoles etc. Rapid digitalization and growing penetration of internet in developing countries is fuelling the demand for electronic memory. Additionally, proliferation of IoT solutions across industries provides a strong impetus to memory packaging market.

PEST Analysis

Political: The memory packaging market is influenced by government regulations related to quality standards and environmental protection norms. Changes in trade policies can impact imports & exports of memory packaging materials.

Economic: Factors such as GDP growth, industrial production, and personal consumption drive the demand for consumer electronics and thereby memory packaging. Rise in electronics manufacturing is positively impacting the market growth.

Social: Increasing digitalization and growing usage of mobile devices is boosting demand for memory chips which require advanced packaging. Advancements in applications like AI, big data, and IoT are supporting market growth.

Technological: Innovation in miniaturization technologies has led to 3D/TSV and wafer-level packaging solutions. The development of advanced interconnect materials is enabling higher performance memory chips. Integration of advanced logic and memory chips through heterogeneous integration techniques is opening new opportunities.

Geographical regions: Asia Pacific accounts for the major share supported by memory packaging facilities located in Taiwan, China, South Korea and Southeast Asian countries. The region is projected to experience strong growth due to the presence of major electronics and semiconductor manufacturing bases. North America and Europe are also high potential markets driven by automotive, industrial automation and consumer electronics applications.

Fastest growing region: Asia Pacific region is projected to witness the fastest growth during the forecast period supported by expanding electronics industry, especially in China, India and Southeast Asian countries. Investments in fab capacities in emerging countries, rising middle class, growing digital adoption are driving above average growth in the Asia Pacific memory packaging market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it