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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Browse 66 tables and 47 figures spread through 156 pages and in-depth TOC on "Hermetic Packaging Market - Global Forecast to 2023"
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).
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).
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.
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