Low-Temperature Co-fired Ceramic (LTCC) Market Size, Industry Growth Forecast 2022-2028

According to Precision Business Insights (PBI) latest report, the global low-temperature co-fired ceramic (LTCC) market was valued at USD 5,162.3 million in 2021 and growing at a significant CAGR of 6.7% during 2022-2028. Low-temperature co-fired ceramics (LTCC) have become a popular choice for electronic components and substrates that are small, light, and provide high-speed functionality for portable electronic devices. Continuous R&D efforts and associated technological developments in the field of cost-effective production and processing have fueled its market expansion over the previous decade, and this trend is projected to continue shortly. The various end-use sectors pushing demand for co-fired ceramics include the telecommunications, automotive, medical, industrial, and defense and aerospace sectors. Issues related to shrinkage impacting the performance of low temperature co-fired ceramic (LTCC), and low thermal conductivity of low temperature co-fired ceramic (LTCC) will hinder the growth of the low temperature co-fired ceramic (LTCC) market.

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Automotive Segment Dominates the Low Temperature Co-fired Ceramic (LTCC) Market:
Based on end-user, the automotive segment holds the largest share. The demand for the low-temperature co-fired ceramics is high in automotive and consumer electronics segments, as low-temperature co-fired ceramics have stability in high frequency, high accuracy, and high shrinkage tolerance. As a result of the vehicle industry's growth and expansion, demand for low-temperature co-fired ceramic technology will surge. The development of low co-fired ceramic technology has increased as the demand for front-end receivers, duplexers, and front-end transmitters has increased.

Asia Pacific Leads Low-Temperature Co-fired Ceramic (LTCC) Market:
Asia- Pacific low temperature co-fired ceramic (LTCC) market share is projected to record commendable growth through 2028. Investment in these countries' automotive, medical, and aerospace industries is expected to drive demand for low-temperature co-fired ceramics during the forecast period. During the forecast period, North America is likely to hold a significant proportion of the worldwide low-temperature co-fired ceramics market. The United States is one of the world's largest markets for electronic equipment. As a result, demand for low-temperature co-fired ceramics in the country is likely to be significant.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
The global low temperature co-fired ceramic (LTCC) market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In Oct 2021, Akoustis Technologies, Inc, an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, has acquired a 51% majority ownership position of RFM Integrated Device, Inc. In October 2021, Steel and ceramics manufacturers unite to explore furnace emission reductions. British Steel and Wienerberger have been brought together by the Materials Processing Institute to investigate waste heat recovery from furnaces.

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The low-temperature co-fired ceramic (LTCC) market is segmented based on type, end-user, and geography.
Based on the Type, the market is segmented into the following:
• LTCC Components
• LTCC Substrates
• LTCC Module
• Others

Based on the End-user, the market is segmented into the following:
• Automotive
• Power
• Aerospace
• Industrial
• Consumer Electronics
• Others

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Key player's profiles in the low temperature co-fired ceramic (LTCC) market report are Hitachi Metals, Ltd, KOA Corporation, Kyocera Corporation, Maruwa Co., Ltd, Micro Systems Technologies, Murata Manufacturing Co., Ltd, Natel Engineering Co., Ltd, NGK Spark Plug Co., Ltd., Nikko Company.

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