Hardware security has been a significant challenge in semiconductor devices, leading to serious issues such as denial of service, data leakage etc at both transistor as well as package level. Detecting the usage state of a target semiconductor sample or generating a unique fingerprint can provide critical information about the sample, aiding in the prevention of counterfeiting to avoid hardware security risks. Terahertz Time-Domain Spectroscopy (THz-TDS) stands out as a powerful and non-destructive tool, capable of probing and analyzing the polymer materials. Its sensitivity to molecular-level changes makes THz-TDS suitable for studying the material, structural, and stress properties of IC packaging under real-world conditions. This research begins by reviewing the composition of Electronic Material Compatibility (EMC) materials and their variance under real-world conditions. Furthermore, the application of THz-TDS for polymer material characterization, which incloudes material, structural, and internal stress characterization, is also thoroughly reviewed. By combining these factors, we explore the potential and capability of using THz-TDS to detect real-world loaded samples and the feasibility of generating fingerprints for identifying counterfeit samples, including reused, recycled, or tampered ones.