Hermetic Packaging Market to Garner $ 6.19 Billion, Globally, by 2027 at 6.6% CAGR: The Insight Partners

According to the new research report published by The Insight Partners, titled "Hermetic Packaging Market to 2027 by Product (Passivation Glass, Transponder Glass, Reed Glass, Glass-to-Metal Sealing, Ceramic-to-Metal Sealing); Application (Transistors, MEMS, Sensors, Lasers, Photo Diodes, Airbag Ignitors, Others); Industry Vertical (Aerospace, Medical, Telecommunications, Consumer Electronics, Military and Defense, Automotive, Others); - Global Analysis and Forecast", the hermetic packaging market is estimated to reach US$ 6.19 Bn by 2027 from US$ 3.51 Bn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.

Hermetic packaging provides reliable protection for sensitive electronic components against various environmental conditions such as atmospheric pressure, dirt, moisture, and other natural hazards. These factors could severely affect the working of electrical connections and damage the delicate electronics used in various industries. Hermetic packaging is made of materials such as glass and ceramics that offer long continuity life to electronic components and made them safe. With increasing technological advancements in various industries, the pressure of high performance is driving manufacturers to innovate and produce electronics that could sustain in harsh environmental conditions.

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In the automotive industry, hermetic packaging are used to protect sensors that are used in airbag equipment and rollover devices. In the medical industry, hermetics are used in pacemakers, hearing devices, RFID transponder devices, and other implantable medical devices. In the telecommunications industry, hermetic packaging is used to protect delicate electronic circuitry in telecom infrastructure. Hence, industries such as automotive, medical and telecommunications, where electronics components are put through extreme conditions like high/low temperature and pressure, are driving the demand of hermetically packaged component during the forecast period of 2019 to 2027.

APAC is also expected to be the fastest-growing region in the global hermetic packaging market during the forecast period. The fast growth of hermetic packaging market in APAC is attributed to the large presence of electronics manufactures in China, Japan and South Korea. The presence of fast growing countries such as China and India as well as developed countries such as Japan and South Korea, makes Asia pacific one of the most promising market for the growth of hermetic packaging. The economic growth in developing countries of APAC is quite impressive and these countries are expected to offer ample growth opportunities for the hermetic packaging market players during 2019-2027.

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Aerospace and Defense industry is driving the demand for hermetic packaging worldwide
The global aerospace and defense industry is experiencing a strong growth owing to factors such as growing passenger travel demand and increasing military expenditure in countries such as China and the US. With rising geopolitical tensions in various regions, the aerospace and defense industry is expected to continue its growth trajectory during the forecast period of 2019 to 2027. With the growing demand for application-specific customized solutions and high safety and reliability requirements, aerospace and defense industry provides a positive demand outlook for hermetically packaged electronic components. Various companies such as SCHOTT AG and AMETEK, Inc. offers hermetic packages for safeguarding sensitive electronic components used in the aerospace and defense industry. Hence, factors such as increasing commercial and military aircraft production and rising spending on defense/military equipment are anticipated to drive the demand of hermetically protected electronic components in the global aerospace and defense industry.

Rising trend of component miniaturization to fuel the demand for innovative packaging solutions
The trend of increasing miniaturization of electronic components has become a major concern for packaging solution providers worldwide. The constant technology advancements in various industries are pushing manufacturers to implement miniaturization in order to cope up with rising demands of industries such as aerospace, electronics, automotive, and healthcare. Hence, it has become a necessity for hermetic packaging providers to bring solutions which can support such miniaturized electronic components. Thus, this factor is expected to trigger the growth of the hermetic packaging market in the coming years.

Hermetic Packaging Market: Competitive Landscape and Key Developments
Ametek, Inc., Egide SA, Kyocera Corporation, Legacy Technologies Inc., Materion Corporation, Micross Components, Renesas Electronics Corporation, Schott AG, Teledyne Technologies Incorporated, and Texas Instruments Inc are among the key players in the global Hermetic Packaging market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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2019: Micross Components added Strategic Sales Inc. (SSI) as a manufacturer rep organization to serve the Philadelphia market. SSI offers technical sales and management for key electronic component and systems companies in the Mid-Atlantic region. Thus, Micross looks forward to expand its market footprint by working closely with the SSI Team to further develop its business in this region.

2018: Schott AG entered an agreement to acquire Primoceler Oy in order to expand its hermetic packaging portfolio with pioneering glass micro bonding technology. Upon finalization of the acquisition, the company is expected to conduct its business activities under the new name SCHOTT Primoceler Oy. Through this acquisition, SCHOTT will utilize Primoceler's pioneering micro bonding method that utilizes laser technology for manufacturing vacuum-tight, ultra-miniature electronic and optical devices without any heat or added materials.

2017: AMETEK, Inc. has combined its industry-leading electronic components, interconnect and wire, packaging businesses into an expanded division, Electronic Components & Packaging (ECP), that brings together its market-leading Glasseal, Aegis, Hermetic Seal, Coining, SCP and Sealtron brands into a single global business platform. This new division enables the company to provide its expanding customer base with an increasing range of innovative component and hermetic solutions.

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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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