New York, July 07, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Bonding Wires Market” published by Consegic Business Intelligence, the market was worth USD 12,730.27 million in 2022 and is anticipated to reach over USD 16,072.24 million by the year 2030, growing at a CAGR of 3.1%.
Bonding wires are small-sized wires used for establishing interconnection between electronic devices with several parameter combinations such as pressure, heat, and ultrasonic wave. When the surfaces and wire are in close connection, inter-diffusion or electron sharing happens, generating the wire-bond connection. Thus, wire bonding technique is widely used in consumer electronics, automotive, healthcare, and telecommunication industry.
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The growing miniaturization of semiconductor devices in consumer electronics and IoT-enabled devices is driving the growth of the market. Bonding wires are extensively used for providing efficient and reliable connections between semiconductor devices. Moreover, bonding wires are used for positioning of electronic components on Printed Circuit Boards (PCBs) for transmission of electric current through the devices. For instance, in August 2022, Palomar Technologies launched new wedge bonder called Palomar 9000 featuring high-speed fine wire and ribbon wedge bonder driven by voice-coil technology for opto-electronic applications.
The application of bonding wires in flexible and printed electronics is expected to present potential opportunities for the growth of bonding wires market during the forecast period. The flexibility and conformability of bonding wires are well-suited for flexible and printed electronics. However, the presence of alternatives including laser welding machines is hindering the growth of bonding wires market.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 16,072.24 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 3.1% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Cirexx International Inc., Powertech Technology Inc., Alter Technology, QP Technologies, Amkor Technology Inc., NEOTech Inc., JCET Group Co. Ltd., ASE Technology Holding Co. Ltd., Tektronix Inc. |
| By Type | Ball Bonders, Wedge Bonders, Stud/Bump Bonders, and Peg Bonders |
| By Bonding Process Type | Thermo-compression Bonding, Thermosonic Bonding, and Ultrasonic Bonding |
| By Wire Thickness | 0μm-75μm, 75μm-150μm, 150μm-300μm, and 300μm-500μm |
| By Material | Copper, Aluminum, Gold, Silver, and Palladium-coated Copper (PCC) |
| By Application | MEMS, Memory, Sensors, Optoelectronics System, and Others |
| By End-User | Automotive, Aerospace & Defense, Consumer Electronics, Telecommunications, Healthcare, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Bonding Wires Market Growth Drivers:
- The increasing demand for bonding wires in connecting electronic components in consumer electronics devices is driving the growth of the market.
- The application of binding wires in automotive industry for safety, connectivity, and ADAS features is accelerating the growth of bonding wires market.
- The growing adoption of bonding wires in medical devices is propelling the growth of the market.
Restraints
- The presence of alternate technology including laser welding machines is hindering the growth of the market.
- The limited current carrying capacity of bonding wires is restraining the growth of the market.
Opportunities
- The application of bonding wires in flexible and printed electronics is expected to present potential opportunities for the growth of bonding wires market during the forecast period.
Global Bonding Wires Market Segmentation Details:
Based on Type, the wedge bonder segment contributed the largest shares to the market growth in 2022. The ability of wedge bonders to offer high mechanical strength and reliability in interconnecting electronics components is driving the growth of the market. Thus, bonding wires are used in power electronics and automotive electronics, resulting in market growth.
Based on Bonding Process Type, the thermos-compression bonding segment accounted for the maximum revenue share in the year 2022. Thermo-compression bonding is a technique that uses heat and pressure to create a bond between the wire and the bonding pad. Consequently, the application of thermos-compression technique for Heterogeneous Integration (HI) and System-in-Package (SiP) in semiconductor devices is accelerating the growth of the market.
Based on Wire Thickness, the 0μm-75μm segment accounted for the maximum revenue share in the year 2022. The ability of fine wires to provide high-density interconnects is accelerating the growth of the market. Fine wires allows a large number of wires to be packed within a compact space, thereby contributing to the growth of the market.
Based on the Material, the copper segment accounted for the maximum revenue share in the year 2022. The high electrical conductivity and cost-effectiveness of copper bonding wires is driving the growth of the market. The high conductivity of bonding wires allows for efficient transmission of current and helps minimize resistance in wire interconnects. Moreover, the high electrical conductivity and cost-effectiveness of copper bonding wires is driving the growth of the market.
Based on the Application, the MEMS segment contributed the largest shares to the market growth in 2022. Bonding wires play a crucial role in providing electrical connectivity between different components of MEMS devices such as MEMS chips, package leads, and circuit boards. Consequently, the application of bonding wires in establishing reliable connections between MEMS devices is propelling the growth of the market.
Based on End-User, the consumer electronics segment accounted for the maximum revenue share in the year 2022. The increasing adoption of consumer electronics devices such as smartphones, laptops, and tablets is driving the growth of bonding wires market. Bonding wires are essential for connecting different devices such as sensors, transistors, and capacitors. Moreover, the adoption of smart wearables among consumers is accelerating the growth of the market.
Based on Region, North America accounted for the largest revenue share in the year 2022. The rising adoption of consumer electronics devices such as smartphones, laptops, and tablets among consumers is driving the growth of the market. Moreover, technological advancements in the region is propelling the growth of the market. Furthermore, the application of bonding wires in healthcare industry is proliferating the growth of the market.
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Recent Developments
- In Sept 2022, Henniker Plasma launched latest and most reliable solutions for reducing wire bonding failures establishing interconnections between semiconductors, integrated circuits and silicone chips using fine wires.
Key Market Highlights
- Globally, bonding wires market is divided based on type into ball bonders, wedge bonders, stud/bump bonders, and peg bonders.
- In the context of bonding process type, the market is segregated into thermo-compression bonding, thermosonic bonding, and ultrasonic bonding.
- In the context of wire thickness, the market is separated into 0μm-75μm, 75μm-150μm, 150μm-300μm, and 300μm-500μm.
- Based on the material, the market is segmented into copper, aluminum, gold, silver, and Palladium-coated Copper (PCC).
- In the context of application, the market is separated into MEMS, memory, sensors, optoelectronics system, and others.
- Based on end-user, the market is fragmented into automotive, aerospace & defense, consumer electronics, telecommunications, healthcare, and others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- Asia-Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in bonding wires market.
List of Major Global Bonding Wires Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• Cirexx International Inc.
• Powertech Technology Inc.
• Alter Technology
• QP Technologies
• Amkor Technology Inc.
• NEOTech Inc.
• JCET Group Co. Ltd.
• ASE Technology Holding Co. Ltd.
• Tektronix Inc.
Global Bonding Wires Market Segmentation:
- By Type
- Ball Bonders
- Wedge Bonders
- Stud/Bump Bonders
- Peg Bonders
- By Bonding Process Type
- Thermo-compression Bonding
- Thermosonic Bonding
- Ultrasonic Bonding
- By Wire Thickness
- 0μm-75μm
- 75μm-150μm
- 150μm-300μm
- 300μm-500μm
- By Material
- Copper
- Aluminum
- Gold
- Silver
- Palladium-coated Copper (PCC)
- By Application
- MEMS
- Memory
- Sensors
- Optoelectronics System
- Others
- By End-User
- Automotive
- Aerospace & Defense
- Consumer Electronics
- Telecommunications
- Healthcare
- Others
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Key Questions Covered in the Bonding Wires Market Report
- What are Bonding Wires?
- Bonding wires are small-sized wires used for establishing interconnection between electronic devices with several parameter combinations such as pressure, heat, and ultrasonic wave.
- What are some of the most important applications of bonding wires and how do they impact the industry's growth potential?
- Bonding wires are widely used in consumer electronics devices such as smartphones, laptops, and tablets for connecting semiconductor devices. Moreover, bonding wires are used for support ADAS systems, sensors, and lighting systems in automotive vehicles.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the bonding wires growth in the coming years?
- North America accounted for the largest revenue share in the year 2022. The increasing adoption of consumer electronics devices such as smart wearables and IoT-enabled devices.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
- Asia Pacific is anticipated to register fastest CAGR growth during the forecast period. The growing automotive industry in Asia-Pacific is accelerating the growth of the market.
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