According to
the new market research report "Hermetic Packaging Market
by Configuration (Multilayer Ceramic Packages, Metal Can Packages, Pressed
Ceramic Packages), Type (Ceramic-Metal Sealing, Glass-Metal Sealing),
Application, Industry, and Geography - Global Forecast to 2023",
the overall hermetic packaging market is estimated at USD 3.25 Billion in 2018
and is expected to reach USD 4.52 Billion by 2023, growing at a CAGR of 6.80%
between 2018 and 2023.
The major
factors driving the growth of the hermetic technology market include rising
adoption of hermetic packaging for protecting highly sensitive electronic
components and growing demand from industries such as automobile electronics
and aerospace.
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Multilayer
ceramic packages are expected to lead the global hermetic packaging market
between 2018 and 2023
Multilayer
ceramic packages held a major market share in 2017 and is expected to grow at
the highest rate between 2018 and 2023. The key factor driving this market is
high adoption rate of the multilayer ceramic packages for high-frequency
applications such as data communication, wireless communication, and optical
communication because they offer better hermeticity than other configurations
for high-frequency applications, and also enable a large number of electrical
feedthroughs within small spaces.
The
aeronautics and space industry is expected to grow at the highest rate between
2018 and 2023
There would
be a significant rise in the hermetic packaging market for the aeronautics and
space industry between 2018 and 2023. A high number of satellite launches, such
as Matter Particle Explorer in December 2015 by China, is one of the key
driving factors for the said market. In October 2015, Indian Space Research
Organisation (ISRO) announced a joint venture with NASA and JAXA for initiating
its own space observatory mission to get a closer look at the galaxies in the
outer space. Significant interest for space research in the APAC countries,
such as China and India, is expected to propel the market for the aeronautics
and space industry in APAC.
The hermetic
packaging market in APAC expected to capture the largest market share during
the forecast period
The market
in APAC is expected to grow at the highest CAGR between 2018 and 2023. The
increasing energy needs backed by the high GDP growth rate in developing
countries such as China and India is creating opportunities for the
manufacturers of hermetically packaged components in APAC. Countries such as
China, Japan, and India are now stepping up in space research. The contribution
of these countries in space-related activities, such as satellite launches and
space exploration missions, is also expected to propel the hermetic packaging
market further.
The present
market is dominated by the players such as SCHOTT AG (Germany), Teledyne
Microelectronics (US), AMETEK. (US), Texas Instruments (US), and Amkor
Technology (US).
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