Hermetic Packaging Market Projected to reach 4.52 Billion USD by 2023 | Key players include SCHOTT AG, Teledyne Microelectronics and Texas Instruments
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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.
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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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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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