Hermetic Packaging Market growing due to Importance of Asset Management in Industry
The global hermetic packaging market is predicted to witness strong opportunities emerging from the ascendency of ceramic-metal sealing (CERTM) demonstrating a higher growth rate and share in terms of type. There are some crucial factors that could propel the demand for CERTM in the market. The assurance of failure-free operation and passenger safety in the automotive sector is anticipated to fortify the growth of CERTM sealed sensors such as differential non-contacting, chassis level, and heating, ventilation, and air conditioning (HVAC) sensors. The growth of the market could also gain a telling impetus on the back of an elevating demand for low-porosity and thermal shock-resistant hermetic packaging materials.
Although military and defense could take a leading share in the global hermetic packaging market on the basis of application, healthcare, food and beverages, petrochemicals, and consumer electronics are also expected to be significant. The healthcare market is prognosticated to record an impressive demand while riding on major advancements in technology for medical implants and other critical fields. The need to protect food from dirt, yeasts, molds, and bacteria could intensify the demand for hermetic packaging in the food and beverages sector. Glass bottles and rigid metal cans employ hermetic packaging seals as per the standards set by the U.S. Food and Drug Administration (FDA).
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Expansion and new product launch are envisaged to be some of the top strategies adopted to gain a strong foothold in the global hermetic packaging market. For instance, Amkor Technology expanded its China test factory and assembly in 2015 and Schott AG launched Puravis and autoclavable Solidur LED in 2017.
Global Hermetic Packaging Market: Overview
Exhibiting a positive CAGR between 2017 and 2025, the global hermetic packaging market is forecast to spawn into a multi-billion dollar industry by the end of the forecast period. The need to protect the sensitive electronic components used in sectors such as defense and military against invasion of moisture, oxygen, humidity, and any other forms of contaminant, which may result in system failure is the key factor spurring the demand for hermetic packaging. Besides this, with the growing use of hermetic packaging across end-use industries such as aeronautics and automobile electronics, experts see strong growth on cards for the market in the coming years.
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The report provides a holistic market overview, covering growth witnessed across end-use industries, key application segments, and major regions. The classifications under these segments are studied in detail. The study also includes an in-depth analysis of various drivers and restraints projected to impact the market’s trajectory across the aforementioned segments. It therefore compiles exhaustive information regarding the market obtained via proven research methodologies. The market study also identifies the most lucrative segments in the market and gauges the investment feasibility for the new market players.
Global Hermetic Packaging Market: Trends and Opportunities
Among major end users, the demand for hermetic packaging is considerably high in the military and defense sector. This segment is expected to gain from the high budget allocation in the defense sector in countries such as the U.S., Mexico, and Canada. Besides this, the high demand from the defense industries in India and China will boost the hermetic packaging market in Asia Pacific. In the coming years, the rising demand from the aeronautics and space industry will contribute to the market’s growth as well.
Among other segments helping the market gain pace, the contribution of the multilayer ceramic segment is worth mentioning. The market players are expected to witness considerably high opportunities in response to the increasing adoption of multilayer ceramic packages across high-frequency applications such as wireless communication, optical communication, and data communication. Multilayer ceramics allow a large volume of electrical feed-throughs, which is a key factor fueling its demand, subsequently gaining increased traction for the overall market.
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In the coming years, the use of hermetic packaging transistors is expected to increase at a robust pace. This growth will be stoked by the increasing uptake of hermetically sealed transistors for designing home appliances and telecommunication circuits. Spurred by the increasing applications across diverse segment, the global hermetic packaging market is forecast to report strong growth in the coming years.
Global Hermetic Packaging Market: Regional Outlook
Regionally, the leading manufacturers will find a lucrative market in Asia Pacific. The region exhibits increasing demand for energy, backed by growth in the rate of GDP across emerging nations such as India and China, which will create growth opportunities for hermetic packaged electronic component manufacturers. Besides this, India, Japan, and China are now allotting increased funds in space research. The growth in space-related activities such as exploration missions and satellite launches in these countries will give impetus to the Asia Pacific hermetic packaging market. Additionally, North America and Europe will continue offering attractive opportunities to the enterprises operating in the market.
Global Hermetic Packaging Market: Vendor Landscape
Teledyne Microelectronics, AMETEK, Inc., SCHOTT AG, Texas Instruments Incorporated, Amkor Technology, Legacy Technologies Inc., Micross Components, Inc., Willow Technologies, KYOCERA Corporation, and Materion Corporation are among the established players in the global hermetic packaging market. Besides in-depth assessment of the companies profiled, the report also studies the impact of the strategies they adopt on the overall market.
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