Market and Technology Trends
Status of the Power Module Packaging Industry 2024
By Yole Intelligence —
With a CAGR23-29 of 11%, xEV is boosting the power module packaging material market, doubling to $4.34B in 2029.
YINTR24403
Glossary
Report objectives
About the authors
Companies cited
What we got right, what we got wrong
Identity card
Methodology and definitions
Three-page summary
Executive summary
Context
Market forecasts
- Global power module market
- Power module market size, in $M
- Global power module packaging market
- 2019 -2029 power module packaging market evolution in $M – split by:
- application
- by packaging solution
- by component
- Power module and power module packaging components - bill of material (BOM) comparison
- Power module packaging components market forecast in Munits and $M
- 2019 -2029 power module packaging market evolution in $M – split by:
Supply chain analysis
- Supply chain analysis chapter structure
- Main power module manufacturers by region
- Power modules supply chain for xEV
- Power module supply chain in China
- Power module packaging materials supply chain
- Interconnection - wire and ribbon manufacturers
- Key players involved in innovative interconnections.
- Encapsulation: Silicone gel and epoxy molding compound manufacturers
- Die and substrate attach material manufacturers
- Silver / copper sintering paste suppliers
- Ceramic substrate manufacturers
- Ceramic substrate manufacturers - Who supply to whom?
- TIM suppliers
- Power module packaging material suppliers – overview
- Power module packaging solutions suppliers - partnership and M&A
- Power module packaging equipment manufacturers
- Supply chain conclusion
Technology trends
- Overview
- Power modules for various applications
- Power module package technology trends – xEV
- Power module package technology trends - other applications
- Comparison between Si-IGBT vs. SiC-MOSFET power module packaging structure for xEV and industrial applications
- How to get heat out of the chip efficiently through power modules – technology trends
- Single-side cooling and double-side cooling
- Three ways to attach the heatsink to power module– technology trends
- Power module packaging technology trends – by component
- Interconnection technology trends
- Die attach technology trends
- Encapsulation technology trends
- Die and substrate attach technology trends
- Substrate technology trends
- Baseplate technology trends
- Thermal interface materials (TIM)
Intelligent power modules (IPMs)
- Voltage and current range, semiconductor devices used and applications
- Why are IPMs required?
- Standard power modules vs. intelligent power modules
- Packaging type by power range
- Examples of IPM packaging solutions
Silicon carbide (SiC)-based power modules – technology trends
- Wide band gap power module technologies
- SiC module
- main trends
- Increasing number of module designs over the last years
- Automotive-qualified SiC Module packages
- Examples
Embedded die-based power modules
Conclusion
The annual demand for power module packaging materials will grow doubled from 2023 to 2029 to reach about $4.3B
Power modules are a crucial component of power electronics systems. Power module revenue will grow from $8B in 2023 to $16B by 2029, with a 12.1% CAGR2023-2029. The power module packaging materials costs depend on the packaging materials, such as die-attach, ceramic substrate materials, and the package size. At about $2.3B in 2023, the cost of materials for power module packaging represented about 30 % of the total power module cost. These costs will show a CAGR2023-2029 of 11% to $4.3B. By 2029. The largest power module packaging material segment is the baseplate, which represented a market size of $651M in 2023 and will reach $1070M by 2029, a CAGR2023-2029 of 9%. followed by ceramic substrate. Today, continuous improvements in module materials and packaging design are needed to take advantage of the benefits of SiC technology. However, the development is simultaneously focused on reducing the costs of power modules through “good enough” performance and reliability.
The growth of Asian power module packaging material players will put cost-reduction pressure on European players.
The comprehensive requirements of higher efficiency, robustness, reliability, weight, and volume of power modules for xEV applications offer an opportunity for both power module packaging companies and suppliers of packaging materials to improve their market position by providing innovative solutions. The leading power module suppliers are in Europe and Japan, i.e., Infineon, Semikron Danfoss, Fuji Electric, and Mitsubishi Electric. At the same time, the leading power module packaging material suppliers are in the USA (i.e., Rogers Corporation, MacDermid Alpha, 3M, Dow, Indium Corporation), Europe (Heraeus, Henkel), and Japan (Resonac, FTH (formally known as Ferrotec), Proterial, Kyocera, Dowa, Denka, Tanaka, NGK Insulators). The growth of Asian players with lower-cost products, for example ceramic substrate companies like FLH, will put cost pressure on European and American players. The geographic expansion of packaging material providers is increasing. Japanese players have a powerful presence in materials but sometimes need help accessing other regions. Therefore, they are growing their presence in China, Europe, and the USA and investing in business development within these regions. For example, Japanese NGK Insulators plans to manufacture ceramic substrates in Poland. Similarly, European and U.S. players, such as Heraeus, Henkel, MacDermid Alpha, and Rogers Corporation, focus on Asia, mainly China. At the same time, several companies along the power module supply chain have either moved or are planning to transfer their production to countries with a lower cost of production to reduce costs, such as Vietnam, Hungary, Malaysia, and Romania. This leads to more robust competition, increased price pressure, and increasing motivation for partnerships and M&As.
Towards higher reliability, better thermal management, downsizing and cost optimization
Amongst the most critical trends for power module packaging technology is the increasing use of SiC-MOSFETs in power modules as an alternative to silicon-IGBTs, especially for xEV applications. This has resulted in a growing need for power module packaging materials that can withstand higher junction and operating temperatures, such as silver sintering die-attach, advanced low stray-inductance electrical interconnections, Si3N4-AMB substrate, structured baseplate, and high-temperature stable encapsulation materials. Double-side cooling power module technology started with a big bang in the market; however, most power module makers and system integrators are mainly interested in single-side cooling packages, as double-side cooling module manufacturing has many technical challenges and higher costs. However, it may yet be used for highly sophisticated products. Today, excellent performance and reliable power modules are needed. At the same time, “good enough” properties with lower cost are also becoming a new target in power module packaging. However, to prove the added value based on lower cost is very challenging as it requires in-depth knowledge of power module packaging materials and module designs, module manufacturing, and module integration into systems and final applications. The cost-effectiveness of any new solution must be evaluated at the end-system level, not just at the device level.
3M, Ametek, Avantor, Aismalibar, A.L.M.T. Corp., Alpha & Omega Semiconductor, Amkor, AOS Thermal Compounds, Almatis, Aurel, Arlon, Amulaire, AMX, ASMPT, BYD, Boschman, Bosch, BorgWarner, Besi, CRRC, CeramTec, CoorsTek, CPS Technology, Comelec Sa, Curtiss-Wright, CML Europe, CHT Group, Coherent, Dupont, Denka, Dow, Dowa, Daco, Elkem, Electrolube, EPISIL Technologies, FLH (formally known as Ferrotec), Fuji Electric, FJ Composite, F & K Delvotec, Heraeus, HALA Contec, Hitachi Chemicals, Henkel, Hirata, Hesse Mechatronics, Indium Corporation, Infineon, Interplex, Infotech, Japan Fine Ceramics Co. Ltd., KCC, Kyocera, KinWong Electronic, KISCO, Kulicke & Soffa, Laird, La Chi Enterprise Co. Ltd, Laser Cheval, MacDermid Alpha, Electronics Solutions, Momentive, Merck, Maruwa, Muller Ahlhorn, Mitsubishi Electric, MacMic, Malico, NGK Insulators, Namics, Nuvotun, ON Semiconductors, Plansee, Powerex, Parker, Proterial, Parylene Coating Services, PSC, Pink, Palomar, Resonac, Renesas, ROHM Semiconductor, Rogers Corporation, Raytrons, Shin-Etsu, Suzhou Kary Nanotech, Sumitomo Bakelite Co. Ltd, STMicroelectronics, Semikron Danfoss, SPEA, Schunk, Specialty Coating System, Silga, Shengyi Technology, StarPower, Serigroup, Sonics Ultrasonic Engineering Co. ltd. Sensitron Semiconductor, Silvermicro, Semiland, Suntech, Texas Instruments, Tesla, Tanaka, Tatsuta, Toshiba, Towa, Tower Semiconductor, Wacker, Wieland, Würth Elektronik, Vincotech, Ventec, Vitesco, and more.
Product objectives :
- Provide an overview of the main applications for power devices, along with their market drivers and future trends.
- Discuss the impact of application trends on package design and packaging materials.
- Furnish an analysis of each packaging component, along with forecasts.
- Identify the critical technology trends that will shape the power packaging market in the future.
- Give an overview of the power module supply chain, i.e. devices and packaging components.
- Detail analysis of the power module packaging supply chain in China
- Analyze the changes in business models, synergies with other industries, and opportunities for newcomers in power devices.
- Analyze the key power module packaging requirements for various applications, especially for the xEV application
- Analyze the Silicon carbide (SiC) based power modules and intelligent power modules
- Analyze the intelligent power modules
- Discuss embedded PCB packaging for power electronics
Key Features :
- Provide an overview of the main applications for power devices,.
- Discuss the impact of application trends on package design and packaging materials.
- Furnish an analysis of each packaging component, along with forecasts.
- Identify the key technology trends that will shape the power packaging market in the future.
- Give an overview of the power module supply chain, changes in business models, synergies with other industries, and opportunities for newcomers in power devices.
- Analyze the key power module packaging requirements for various applications, especially for the xEV application.
- Analyze the Silicon carbide (SiC) based power modules and intelligent power modules.
What’s new?
- Analyze the intelligent power modules.
- Detail analysis of the power module packaging supply chain in China
- Discuss embedded PCB packaging for power electronics.