#TradFi交易分享挑战 Advanced packaging is the core technology that breaks through the performance bottlenecks of traditional packaging and continues Moore's Law. Through high-density interconnects, heterogeneous integration, multi-chip stacking, and other methods, it achieves higher chip bandwidth, lower power consumption, smaller size, and stronger computing power, widely used in AI, high-performance computing, consumer electronics, and other fields.

Currently, advanced packaging mainly includes flip chip, bumping, wafer-level packaging (WLP), system-in-package (SIP), 2.5D packaging (interposers, RDL, etc.), and 3D packaging (TSV) technologies. Among them, 2.5D and 3D packaging are core solutions for AI chips.
Advanced packaging technology is leading the global packaging and testing industry’s upgrade wave. Especially driven by strong demand in HPC and AI, domestic and international advanced packaging capacity is rapidly expanding, boosting supply chain demand growth. Relevant research reports indicate that entering the post-Moore era, the technological focus of the semiconductor industry is shifting from front-end process to packaging and system-level integration.
The explosive growth in AI computing power demand has significantly increased the need for data center-related computing and storage chip packaging. Advanced packaging has become one of the key technological paths to continue and surpass Moore’s Law, improving system performance and integration.
Authoritative data shows that by 2025, the global advanced packaging market is expected to reach a total revenue of $56.9 billion, a year-on-year increase of 9.6%. In 2025, global sales of advanced packaging ($56.9 billion) will surpass traditional packaging for the first time, marking a shift in the value center of the semiconductor packaging and testing industry.
It is expected to reach $78.6 billion by 2028; from 2022 to 2028, the compound annual growth rate (CAGR) is 10.05%.

The global competitive landscape presents a "one superpower, multiple strong players" pattern, with significant order spillover effects, creating a golden window for other manufacturers.
TSMC (Taiwan Semiconductor Manufacturing Company), as the technology leader in advanced packaging, plays an important role in the "one superpower, multiple strong" pattern in the advanced packaging track.
By 2025, TSMC will hold 58% of the global advanced packaging capacity. Leveraging its foundry technology in front-end manufacturing and its integrated operation with back-end packaging, its advantages in advanced packaging are difficult for other competitors, especially those engaged in single packaging processes, to surpass.
Meanwhile, with TSMC’s capacity remaining fully booked, excess orders are accelerating to flow to traditional packaging giants like ASE and Amkor. Besides benefiting from TSMC’s spillover orders, these traditional giants are also leveraging their deep capital reserves and large-scale capacity to rapidly expand their market share in advanced packaging.
ASE’s capital expenditure in 2026 will reach $7 billion, a record high, with its advanced packaging business revenue expected to double year-over-year; Amkor, while collaborating with TSMC, is also pushing forward with cooperation with Intel on the EMIB technology route, using its geographical advantages to secure more orders from clients like Google and Meta.

Advanced packaging, especially 2.5D/3D packaging, CoWoS, and other technologies, has become a core variable determining the shipment limits of AI chips. Tianfeng Securities research reports indicate that advanced packaging can boost the value of a single chip by 30% to 50%, and the value chain of the packaging and testing industry is undergoing profound restructuring.
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