Apr. 18, 2023 /SemiMedia/ -- According to TECHCET's report, the overall size of the semiconductor packaging materials market was US$26.1 billion in 2022 and is expected to be close to $30 billion by 2027.

TECHCET: Chip packaging material market size is expected to approach $30 billion by 2027-SemiMedia

TECHCET said that in view of the slowdown in packaging and testing demand, the material market is expected to decline by about 0.6% this year, but recovery is expected in the second half of the year. After regaining growth in 2024, the annual growth rate is expected to reach 5%.

The report points out that from 2020 onwards, the packaging materials market has experienced strong shipment and revenue growth. Changes in end-market demand coupled with tight supply chains and logistics constraints have raised material prices, and suppliers are also capable of passing on pressures such as rising raw material costs to customers.