The group highlights that this is a major milestone in its strategic expansion into the front-end semiconductor market and underscores GVT’s growing expertise in critical semiconductor front-end manufacturing processes, including etch, metrology and deposition.
GVT adds that its recent success in the front-end semiconductor space will play a key role in driving new opportunities and revenue growth momentum starting from 2025 onwards.
A report by Yole Intelligence has found that the advanced packaging market is expected to grow at a compound annual growth rate (CAGR) FY2023 to FY2029 of 11% to reach US$69.5 billion ($94.3 billion) in 2029. The 2.5D and 3D advanced packaging sector is similarly projected to maintain a robust CAGR of 18% from FY2023 to FY2029 to reach US$27.6 billion in 2029, while high-end performance packaging is expected to grow even faster at a CAGR of 37%, reaching over US$28 billion by the same year.
Chief executive officer (CEO) Julian Ng says: “This pivotal win is well aligned with our strategic customer engagements. We expect our growing involvement in critical technologies such as TSV to further enhance our capabilities and processes. Our investments in innovation and operational excellence are starting to yield tangible results, and we are excited about the future potential for our front-end semiconductor business.”
See also: Cosmosteel’s CEO Ong resigns after 3HA Capital offer declared unconditional
As at 4.29 pm, shares in Grand Venture Technology are trading 3 cents higher or 3.49% up at 89 cents.
