Despite Facing a Setback in the Covid-19 Pandemic, the Quad-Flat-No-Lead Packaging Market Set to Grow with a Stunning CAGR of 8.8% in the 2022-2031 Timeframe [270-Pages] | Commended by Research Dive

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27 Feb, 2023, 15:01 GMT

The global quad-flat-no-lead packaging market is expected to grow primarily due to the growing need for small electronics by 2031. Punched sub-segment is expected to flourish significantly. The market in the Asia-Pacific region is predicted to grow considerably.

NEW YORK, Feb. 27, 2023 /PRNewswire/ -- Global Quad-Flat-No-Lead Packaging Market Forecast Analysis:

As per the report published by Research Dive, the global quad-flat-no-lead packaging market is expected to register a revenue of $1,063 million by 2031 at a CAGR of 8.8% during the forecast period of 2022–2031.

Segments of the Quad-Flat-No-Lead Packaging Market

The report has divided the quad-flat-no-lead packaging market into the following segments:

Type: Air-cavity QFN, Plastic-moulded QFN, and others

Moulding Method: Punched, Sawn

Terminal Pads: Fully exposed terminal ends, pull-back terminal ends, side wettable flank terminal ends

Industry Vertical: Consumer electronics, industrial, automotive, computing/networking, communications

Region: North America, Europe, Asia-Pacific, and LAMEA

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Segment

Sub-Segment

Type

Air-cavity QFN – Dominant market share in 2021

The air cavity ceramic package is a common packaging type for GaAs, Si, and GaN RF power transistors. The growing demand for air-cavity QFN is predicted to boost the sub-segment in the 2022–2031 timeframe.

Moulding Method

Punched – Dominant market share in 2021

Punch singulated packages, which are manually "punched" from moulded strips during final assembly, are more transportable and affordable than conventional lead frame packaging, specifically for portable and mobile applications. This factor is predicted to boost the sub-segment in the 2022-2031 timeframe.

Terminal Pads

Fully Exposed Terminal Ends – Dominant market share in 2021

The growing demand for fully exposed terminal end, which is the conventional packaging used for industrial and consumer goods, is predicted to boost the sub-segment in the 2022-2031 timeframe.

Industry Vertical

Automotive – Dominant market share in 2021

The rising implementation of special features such as keyless entry and open frames in vehicle doors is propelling the demand for QFN packaging. This factor is predicted to boost the sub-segment in the 2022-2031 timeframe.

Region

Asia-Pacific – To be most dominant by 2031

The increasing adoption of smart electronic devices throughout the region is one of the major factors driving the expansion of the quad-flat-no-lead packaging market.

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Dynamics of the Global Quad-Flat-No-Lead Packaging Market

Increasing utilization of consumer electronics like tablets and smartphones is expected to become the primary growth driver of the quad-flat-no-lead packaging market in the forecast period. Additionally, rising applications of quad-flat-no-lead leading in the air cavity sector are anticipated to push the market forward. However, the need for more space for QFN packaging, fluctuating raw material pricing, high costs, wire-bond issues, and challenges in assembling the QFN package are limiting the expansion of the global market.

The growing adoption of portable devices across the globe is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, rising applications in the automotive industry, a growing need for wireless applications, high electrical performance, enhanced thermal performance, and increased reliability are expected to propel the quad-flat-no-lead packaging market forward in the coming period.

COVID-19 Impact on the Global Quad-Flat-No-Lead Packaging Market

The COVID-19 pandemic has significantly altered the packaging industry, with some forms of packaging seeing increased demand while others have decreased. As the COVID pandemic expanded around the world, institutions' attention was focused on curing and controlling the illness. As a result, numerous governments enforced lockdowns, curfews, social isolation, etc. Businesses and industries were told to temporarily stop operating, which significantly restricted their capacity to expand. Thus, a sudden stoppage in the working of the electronics, automotive, IT, aerospace, and other industrial sectors adversely impacted the quad-flat-no-lead packaging market during the pandemic.

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Key Players of the Global Quad-Flat-No-Lead Packaging Market

The major players of the market include

  • Texas Instruments Incorporated
  • Amkor Technology, Inc.
  • STATS ChipPAC Pte Ltd.
  • Microchip Technology Inc.
  • ASE
  • JCET Group
  • NXP Semiconductors
  • Powertech Technology Inc.
  • ChipMOS Technologies Inc.
  • Tianshui Huatian Technology Co. Ltd.

These players are working on developing strategies such as product development, mergers and acquisitions, partnerships, and collaborations to sustain the market growth.

For instance, in July 2022, JCET Group, a leading provider of technological services and backend production for integrated circuits, announced that the business had successfully packaged 4nm processors for mobile, along with integrated packaging of GPU, CPU, and RF chipset.

What the Report Covers

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.

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