Press release
Wire Bonding Market to Expand at CAGR of 2.9%; Advent of Novel Ultrasonic and Thermosonic Bonding Methods to Boost Market Growth, notes TMR Study
The wire bonding market is anticipated to witness continued growth due to the demand from several end-use industries such as aerospace & defense, consumer electronics, healthcare, automotive, and telecommunications. Wire bonding composed of gold, copper, and palladium is a key constituent of electronic assemblies.Wire bonding is a key phenomenon used in semiconductors and microelectronics to manufacture and interconnect components of transistors, ICs, and resistors, among others.
Proliferation of the electronics sector and role of manufacturers to stay updated with advancement in technology such as ultrasonic and thermosonic is anticipated to continue to create opportunities in the wire bonding market. The wire bonding market is projected to cross the valuation of US$ 16.24 Bn by 2031.
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Wire Bonding Market - Key Findings of Report
Demand for Micro-Electro-Mechanical Systems (MEMS) Attracts Participation from Small-scale Enterprises
Functional advancements in micro-electro-mechanical systems (MEMS) are creating revenue opportunities in the wire bonding market. Moreover, MEMS are known as the game-changing technology of the 21st Century for industrial and consumer goods. MEMS deploy silicon-based microelectronics with the micromachining technology. This is enabling small-scale manufacturers to foray into the wire bonding market.
Besides, the rising demand from the semiconductor packaging industry is anticipated to continue to fuel market growth in the upcoming years. This can be attributed to initiatives undertaken by some product manufacturers such as Zhaojin Mining Industry, The Prince & Izant, and Airproducts for expanded applications in electronics and semiconductor packaging industries.
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Ultrasonic Welding Offers Lucrative Revenue Streams
At present, more than 95% semiconductor chips use ultrasonic welding. Ultrasonic wire bonding is being extensively used for devices that require high currents and high dispersion for heavy wire bonding in the microelectronics industry.
The wide adoption of thermosonic wire bonding is a phenomenon that has come to the fore in the wire bonding market. Thermosonic method with gold wires provides good bonding strength despite the high cost. Furthermore, thermosonic gold wire bonding offers self-cleaning and high yield rate, reliability, and flexibility. This can be attributed to most semiconductor packages, microelectro mechanical systems, and optoelectronic devices to consistently use thermosonic gold wire bonding.
The ultrasonic and thermosonic wire bonding that uses gold wire of diameter 25 µm can be best used at different temperatures. Therefore, the increasing demand for modern methods such as ultrasonic and thermosonic bonding is anticipated to create lucrative growth opportunities in the wire bonding market.
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Applications across End-use Industries Fosters Growth
The digitalization of everyday function systems is creating incessant demand for electronic devices. This, in turn, is fueling the growth of the wire bonding market.
Initiatives undertaken by product manufacturers for R&D of IC assemblies for the safety requirement of critical applications such as in automotive and aerospace & defense sectors are favoring the growth of the wire bonding market.
Wire Bonding Market - Growth Drivers
Rising demand for modern wire bonding methods such as ultrasonic wire bonding and thermosonic wire bonding stimulates the growth of the wire bonding market
Extensive demand for wire bonding from the laser diode packaging for electrical connectivity between laser diode and package lead frames creating ample opportunities in the wire bonding market
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About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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