TGV技术：下一代封装技术的话事人？

Investment Rating - The report indicates a positive outlook for the TGV technology, suggesting it may become the leading packaging technology in the future [7]. Core Insights - TGV technology, or Through Glass Via technology, is seen as a key advancement in 3D integration, offering advantages over traditional silicon-based interconnects, including lower costs and superior high-frequency electrical performance [3][4]. - The global advanced packaging market is projected to grow from $35 billion in 2021 to $48.2 billion by 2026, with a compound annual growth rate (CAGR) of 6.61%, surpassing the industry average growth rate of 4.34% [5]. Summary by Sections TGV Technology Overview - TGV technology is a potential replacement for silicon-based interconnects, characterized by low cost, availability of large ultra-thin glass substrates, and excellent high-frequency performance [3]. - TGV technology is categorized into 2.5D TSV and 3D TSV, with 3D TSV allowing for closer chip placement, reduced delay, and lower parasitic effects, leading to performance improvements and cost reductions [3]. Development of TGV Technology - TGV technology emerged in 2008 as a solution to the limitations of TSV technology, addressing issues such as signal loss and high material costs [4]. - The technology relies on high-quality borosilicate or quartz glass substrates, which are currently dominated by foreign companies like Corning and Asahi Glass [4]. Market Prospects for TGV Technology - The advanced packaging market is rapidly expanding due to the influence of IoT, 5G, AI, and big data technologies, with TGV technology expected to play a significant role in this growth [5].