Electronic Packaging Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 20.75 Billion |
| Market Size (2029) | USD 58.71 Billion |
| CAGR (2024 - 2029) | 23.12 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Electronic Packaging Market Analysis
The Electronic Packaging Market size is estimated at USD 20.75 billion in 2024, and is expected to reach USD 58.71 billion by 2029, growing at a CAGR of 23.12% during the forecast period (2024-2029).
- Electronic packaging is more suited for mass production due to the rising demand for TVs, set-top boxes, MP3 players, and digital cameras. The rise of IoT and AI and the proliferation of complex electronics drive the high-end application segment in the consumer electronics and automotive industries. Due to these factors, more advanced electronic packaging technologies are being adopted to sustain demand.
- Electronics corporations are progressively incorporating sustainable practices into their packaging designs. They acknowledge that this can significantly influence consumer decisions. For instance, Samsung has pledged to use environmentally sustainable materials throughout its product range by 2025. This initiative includes substituting plastic packaging materials with biodegradable or recycled goods. Such endeavors not only cater to environmentally conscious buyers but also establish a brand as a responsible leader in an increasingly sensitive market to environmental concerns.
- Moreover, the digital revolution has impacted packaging design in several ways. Consumer electronics packaging includes QR codes, augmented reality (AR) interfaces, and NFC (near-field communication) tags. These technologies are becoming increasingly popular and are transforming the way consumers interact with packaging.
- These technologies enhance user engagement by merging physical packaging with digital experiences. For instance, a QR code on a box can direct consumers to a website with detailed product specifications, user reviews, or even virtual reality experiences of the product in action. As a result, these technologies are becoming an essential part of the consumer electronics packaging toolkit.
- The automotive sector accounts for a significant portion of the market studied, mainly due to its increasing adoption of electric vehicles (EVs) and hybrid vehicles. As a large number of memory devices, processors, analog circuits, discrete power devices, and sensors are used in electric and hybrid cars, demand is set to rise rapidly over the forecast period.
- According to IBEF, India's electric vehicle (EV) market is expected to reach INR 50,000 crores (USD 7.09 billion) by 2025. Furthermore, a CEEW Centre for Energy Finance study shows that India will have USD 206 billion in opportunities for electric vehicles by 2030. Such developments will further drive the market growth for electronic packaging.
- The pandemic severely affected the sales of electronic packaging solutions and consumer electronics packaging. The demand for consumer electronics packaging is driven by the mobile phone and computer industries. Even during the pandemic, the halt in production, scarcity of raw materials, and supply chain disruptions did not significantly impact the outputs of these industries.
Electronic Packaging Market Trends
The Aerospace and Defense Segment is Expected to Increasingly Adopt Electronic Packaging
- The defense budgets of developed nations, such as the United States, France, and the United Kingdom, and many developing nations, such as Russia, India, and China, have been increasing regularly. Many of these nations are also interested in the export of weapons. This has resulted in continued investment in R&D in the aerospace and defense market.
- The importance of collective defense must be addressed in today's ever-changing geopolitical landscape. From weapons, guidance, navigation systems, countermeasures, and armed vehicles and their power sources, military and defense forces are essential for a nation's security and defense against external threats. Surveillance and armed forces must operate effectively and efficiently to maintain a strong military system.
- According to the Department of Defence Production (India), the value of the country's defense production increased from INR 811.20 billion (USD 11.52 billion) in FY 2019 to INR 1086.84 billion (USD 13.16 billion) in FY 2023. Furthermore, the country's demand for defense batteries was expected to surge from 4 gigawatt hours in 2022 to 10 gigawatt hours in 2030. Such a constant rise in defense production in the country, coupled with the rise in the adoption of defense batteries, is expected to bolster the market growth during the forecast period.
- Naval warships, satellite communication channels on board, weapon control systems, coastguards, etc., use many sophisticated electronic products and require military-grade packaging of the electronic components. Humidity and harsh environments require high-quality products and facilitate investment in R&D.
Asia-Pacific to Experience Significant Market Growth
- Asia-Pacific is estimated to hold the largest market share during the forecast period owing to growing automotive infrastructure and increased sales of electric vehicles. Rising middle-class income and a large youth population may drive up demand in the automotive industry. According to the Society of Indian Automobile Manufacturers (SIAM), in 2023, the total production of passenger vehicles was 4.54 million units, significantly up from 3.65 million units in 2022, which would drive the growth of the market studied in the future.
- Furthermore, China is considered the electronic hub worldwide because it mass-manufactures and produces electrical components and electronic products that meet the highest quality, performance, and delivery standards. This gives significant growth potential to the electronic packaging market.
- Massive increases in domestic demand, technological advancements, and the production of high-quality products have been China's primary drivers of industry growth. Such large-scale production of paper and paperboard in China is creating a healthy environment for the sales of electronic packaging.
- According to the National Investment Promotion & Facilitation Agency (NIPFA), India has seen a significant increase in demand for electronic products. The electronic manufacturing sector is anticipated to reach USD 220 billion by 2025 due to strong policy support, massive investments by multiple stakeholders, and a surge in demand for electronic products.
Electronic Packaging Industry Overview
The electronic packaging market is fragmented. Microsystems are used in almost every industry vertical, with some significant sections being consumer electronics, healthcare equipment, aerospace and defense, communications, etc. The major market players include UFP Technologies, Schott AG, Sealed Air Corporation, DuPont de Nemours, Inc., and Sonoco Products Company.
- In September 2023, Schott AG unveiled new microelectronic packages for the aerospace industry. The packages aim to extend the life of avionics protection while reducing the weight by up to 75% compared to conventional electronic packaging made from Kovar iron-nickel alloy. The products are also said to protect sensitive electronics, such as radio frequency designs, direct current/direct current converters (DC/DC), electrical storage devices, and sensor components.
Electronic Packaging Market Leaders
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UFP Technologies, Inc.
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Sealed Air Corporation
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DuPont de Nemours, Inc.
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SCHOTT AG
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Sonoco Products Company
*Disclaimer: Major Players sorted in no particular order
Electronic Packaging Market News
- March 2024: Logitech International made an announcement regarding the acceptance of applications for the 2024 season of its second annual Future Positive Challenge. The challenge is intended to discover entrepreneurs, startups, and companies across the globe that can aid in advancing more sustainable products within the consumer electronics industry. The challenge is primarily focused on searching for solutions related to packaging that aim to safeguard products while minimizing environmental impact. Such solutions include moldable materials, renewable or recyclable materials, and alternatives to foil printing.
- September 2023: Sealed Air collaborated with Sparck Technologies, a key 3D automated packaging solutions provider. Sealed Air is expected to exclusively distribute Sparck Technologies' 3D CVP automated packaging solutions in Australia, South Korea, Japan, and South Korea. As part of the alliance, Sealed Air's customers will benefit from access to the industry's most advanced automated packaging solutions, allowing them to streamline processes and create a more secure work environment.
Electronic Packaging Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Consumers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitute Products
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Industry Value Chain Analysis
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4.4 Market Drivers
- 4.4.1 Accelerated Sales of Electrical Automotives Across the Globe
- 4.4.2 Technological Advancements Drive the Product Quality
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4.5 Market Restraints
- 4.5.1 High Costs for Electronic Packaging and Lack of Skilled Professionals to Challenge the Market Growth
- 4.6 Technology Snapshot
5. MARKET SEGMENTATION
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5.1 By Material
- 5.1.1 Plastic
- 5.1.2 Metal
- 5.1.3 Glass
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5.2 By End User Industry
- 5.2.1 Consumer Electronics
- 5.2.2 Aerospace and Defense
- 5.2.3 Automotive
- 5.2.4 Healthcare
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5.3 By Geography***
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.2 Europe
- 5.3.2.1 United Kingdom
- 5.3.2.2 Germany
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.3 Asia
- 5.3.3.1 China
- 5.3.3.2 India
- 5.3.3.3 Japan
- 5.3.3.4 Australia
- 5.3.4 Latin America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.5 Middle East & Africa
- 5.3.5.1 United Arab Emirates
- 5.3.5.2 Saudi Arabia
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles*
- 6.1.1 SCHOTT AG
- 6.1.2 DuPont de Nemours Inc.
- 6.1.3 Sealed Air Corporation
- 6.1.4 GY Packaging
- 6.1.5 UFP Technologies Inc.
- 6.1.6 Sonoco Products Company
- 6.1.7 Smurfit Kappa Group PLC
- 6.1.8 Dunapack Packaging Group
- 6.1.9 WestRock Company
- 6.1.10 Mondi Group
- 6.1.11 Dordan Manufacturing Company
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET
Electronic Packaging Industry Segmentation
Electronics packaging involves designing and producing protective casings and enclosures for electronic devices. The packaging must be robust and reliable to withstand high vibration levels, extreme temperatures, and harsh environments. It must also protect against electromagnetic and radio frequency interference and is vital to maintaining the integrity of electronic components during operation.
The electronic packaging market is segmented by material (plastic, metal, glass, and other materials), end-user industry (consumer electronics, aerospace and defense, automotive, healthcare, and other end-user industries), and geography (North America (United States and Canada), Europe (United Kingdom, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and New Zealand, and Rest of Asia-Pacific), Latin America (Brazil, Argentina and Rest of Latin America), and Middle East and Africa (United Arab Emirates, Saudi Arabia, and Rest of Middle East and Africa). The report offers market sizes and forecasts in terms of value (USD) for all the above segments.
| By Material | Plastic | |
| Metal | ||
| Glass | ||
| By End User Industry | Consumer Electronics | |
| Aerospace and Defense | ||
| Automotive | ||
| Healthcare | ||
| By Geography*** | North America | United States |
| Canada | ||
| By Geography*** | Europe | United Kingdom |
| Germany | ||
| France | ||
| Italy | ||
| By Geography*** | Asia | China |
| India | ||
| Japan | ||
| Australia | ||
| By Geography*** | Latin America | Brazil |
| Argentina | ||
| By Geography*** | Middle East & Africa | United Arab Emirates |
| Saudi Arabia |
Electronic Packaging Market Research FAQs
How big is the Electronic Packaging Market?
The Electronic Packaging Market size is expected to reach USD 20.75 billion in 2024 and grow at a CAGR of 23.12% to reach USD 58.71 billion by 2029.
What is the current Electronic Packaging Market size?
In 2024, the Electronic Packaging Market size is expected to reach USD 20.75 billion.
Who are the key players in Electronic Packaging Market?
UFP Technologies, Inc., Sealed Air Corporation, DuPont de Nemours, Inc., SCHOTT AG and Sonoco Products Company are the major companies operating in the Electronic Packaging Market.
Which is the fastest growing region in Electronic Packaging Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Electronic Packaging Market?
In 2024, the Asia Pacific accounts for the largest market share in Electronic Packaging Market.
What years does this Electronic Packaging Market cover, and what was the market size in 2023?
In 2023, the Electronic Packaging Market size was estimated at USD 15.95 billion. The report covers the Electronic Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Electronic Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Electronic Packaging Industry Report
Statistics for the 2024 Electronic Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Electronic Packaging analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
