Chan Ye Xin Xi Wang·2026-02-21 01:08Core Insights - The integrated circuit packaging and testing (ICPT) industry is a crucial part of the semiconductor supply chain, ensuring chip usability and quality certainty, and is supported by various national policies in China [1][4] - The global ICPT market is experiencing fluctuating growth, with a significant shift of capacity towards emerging Asian markets, particularly Taiwan, mainland China, and the USA [1][4] - Advanced packaging is becoming the main growth driver in the post-Moore's Law era, with the largest market segment being flip-chip packaging and the fastest growth in multi-chip integration packaging [1][5] Industry Overview - ICPT encompasses both packaging and testing, connecting wafer manufacturing with end applications, providing physical protection and performance validation [2][3] - The industry is supported by national policies aimed at technological breakthroughs and market expansion, with recent initiatives focusing on energy electronics and AI [4] Global Market Analysis - The global ICPT market is projected to reach $117.85 billion by 2026, with advanced packaging expected to grow at a compound annual growth rate (CAGR) of 13.2% from 2024 to 2026, significantly outpacing traditional packaging's 3.9% CAGR [4][5] - The market is currently in a downturn due to weak demand in consumer electronics and global economic uncertainties, but is expected to recover in 2024 as demand stabilizes [4] China Market Analysis - The mainland China ICPT market is expected to grow from 250.95 billion yuan in 2020 to 353.39 billion yuan by 2025, with a CAGR of 7.09% [6][7] - Advanced packaging is gaining traction, with its market share projected to reach 20.86% by 2025, driven by domestic demand and technological advancements [7] Competitive Landscape - The global ICPT industry is dominated by a few key players, with the top three companies holding approximately 50% of the market share by 2024 [12] - Mainland China has four companies in the global top ten, showcasing its competitive strength in the ICPT sector [12] Future Development Trends - The industry is expected to shift towards high-end, collaborative, and differentiated development, focusing on advanced packaging technologies and enhancing domestic supply chains [13][14] - There will be a continued emphasis on optimizing demand structures, with a shift from traditional consumer electronics to high-end applications like automotive electronics and AI [15]