Panel Level Packaging Market Size, Companies and Expert Advice

The global panel level packaging market size is estimated to reach USD 11.13 billion by 2033, up from USD 0.43 billion in 2023, at a compound annual growth rate (CAGR) of 38.60% from 2024 to 2033.

The panel level packaging market is expected to experience significant growth throughout the forecast period. The panel level packaging market is likely to witness strong growth over the forecast period. Packaging at the panel level is when a package is processed on a square or rectangular surface. As part of the assembly process, panel-level molding, bumping, die attach and redistribution line fabrication are all done. It covers the next generation of fine feature substrates, which need the modern instruments and materials to fabricate structural features (lines, microvias) and it makes use of a variety of manufacturing infrastructures like the Si (BEOL), a printed circuit board, LCD, and photovoltaics. It exceeds the capabilities of established PCB/laminate infrastructure.

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Demand for Miniaturization

The demand for miniaturization in the electronics industry is projected to support the growth of the market during the forecast period. For most of the technological advancements, miniaturization has been extremely important. Electronic packaging is one of the many procedures related to semiconductor devices and circuit technology, which acts as the foundation for highly effective, compact electronic systems. Larger batteries can be included into devices without increasing their total size due to the miniaturization of electronic subdivisions, which makes them appealing to end users across nearly all industries.

Lithography Challenges for Panel-level Packaging

The lithography challenges are likely to impede the growth of the panel level packaging market during the forecast period. The lithography problem for large heterogeneous integration originates from the fact that the majority of the presently accessible lithography systems have an exposure field that is limited in size, usually measuring 60mm x 60mm or less. Large substrates can be patterned using smaller-field systems by piecing together several exposures, but this reduces the yield as well as the productivity due to the requirement for multiple exposures of different reticles and the possibility of failures at the stitching limits.

In July 2024, the Semiconductor Industry Association (SIA) announced global semiconductor industry sales hit $49.1 billion during the month of May 2024, an increase of 19.3% compared to the May 2023 total of $41.2 billion and an increase of 4.1% compared to the April 2024 total of $47.2 billion. The global semiconductor market has grown on a year-to-year basis during each month of 2024, and year-to-year sales in May increased by the largest percentage since April 2022. The Americas market experienced particularly strong growth, with a year-to-year sales increase of 43.6%.

The consumer electronics segment captured largest market share of 47.24% in 2023. This is owing to the ongoing trend towards digitalization and the integration of the smart technologies into everyday life along with the growing demand for a wide range of electronic devices such as the smartphones, tablets, smartwatches and home automation systems. Furthermore, the rise of remote work and online education as well as the deployment of the 5G networks is also likely to support the growth of the segment in the global panel level packaging market during the forecast period. Additionally, the increasing consumer preference for high-performance and multifunctional devices is expected to contribute to the growth of the segment in the years to come.

Asia Pacific is likely to grow at fastest CAGR of 40.89% during the forecast period. This is owing to the well-established infrastructure of the semiconductor fabrication as well as the presence of the advanced electronics manufacturing hubs in the economies like China, South Korea, Taiwan and Japan. Furthermore, the growing investment in the semiconductor production is also expected to contribute to the growth of the market in the region.

For example, in May 2024, a complete supporting initiative for the semiconductor industry worth USD 19 billion (KRW 26 trillion) was unveiled by the South Korean government. In order to boost the economy and improve the living standards, the strategy involves significant financial support, the growth of the semiconductor parks, the development of the infrastructure and investments in the R&D. Additionally, the growing demand for the products such as the smartphones, tablets and wearables are also anticipated to promote the growth of the market in the region in the years to come.

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