Hermetic packaging market to exhibit significant growth during 2020–2025. The global hermetic packaging market size was valued at USD 3. 5 billion in 2020 and is projected to reach USD 4. 3 billion by 2025; it is expected to grow at a CAGR of 4.
New York, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hermetic Packaging Market with COVID-19 impact by Configuration, Type, Application, Industry And Region - Global Forecast to 2025" - https://www.reportlinker.com/p04442997/?utm_source=GNW
3% from 2020 to 2025. The growth of this market is attributed to the increasing use of hermetic packaging for protecting highly sensitive electronic components and increasing demand from industries such as aerospace and automotive electronics. However, factors such as stringent leak requirements for hermetic packaging and supply chain disruptions due to the COVID-19 pandemic are expected to restrain the market growth.
COVID-19 has emerged as a global pandemic that has spread across 215 countries worldwide and disrupted various industries around the world.The prominent players across industries have been affected by this pandemic.
The foreseeable decline in the growth of end-user industries may have a considerable direct impact on the hermetic packaging market.
Hermetic packaging market for multilayer ceramic packages to witness high-growth potential during the forecast period
The multilayer design of the package helps package designers incorporate electrical enhancements such as a large number of electrical feedthroughs within small spaces. Multilayer ceramic packages are widely adopted for high-frequency applications such as data communication, wireless communication, and optical communication because they offer better hermeticity than other configurations, and also enable a large number of electrical feedthroughs within very small spaces.
The market for Ceramic-Metal Sealing (CERTM) to grow at highest CAGR during the forecast period
CERTM exhibits very high electrical conductivity for conductor paths; this is essential for the transmittance of extremely high-frequency electrical signals.CERTM sealed sensors, such as heating, ventilation, and air conditioning (HVAC) sensors, chassis-level sensors, and proximity sensors find potential applications in the automotive industry as they assure the safety of passengers and enable failure-free operations.
This factor is expected to propel the growth of the CERTM market during the forecast period.
MEMS switches market to grow at highest CAGR during the forecast period “
Given that MEMS switches are mechanical, there is a critical requirement to support and protect the devices from thermal and mechanical shock, vibration, and other physical damage during storage and operation.Hermetic packaging helps MEMS switches to sustain even in environmental conditions such as high temperature and high mechanical stress.
The increase in the demand for complete automatization of automobiles is the key factor driving the growth of the market for MEMS switches.
APAC to be the largest market for hermetic packaging during the forecast period
APAC is expected to lead the hermetic packaging market in terms of size, from 2020 to 2025.Increasing energy needs, emerging economies, and increasing defense spending are some of the factors driving the growth of this market in the region.
In the last few years, the demand for hermetic packaging has significantly increased for the military & defense, aeronautics & space, automotive, and energy & nuclear safety industries.The rising military capabilities of emerging countries such as China, India, and South Korea are boosting the demand for hermetic packaging for sensitive electronic components.
However, the implementation of lockdowns in several countries to contain the spread of COVID-19 has significantly affected the operations of end-use industries such as automotive, military & defense, aeronautics & space, due to which the market for hermetically packaged products is expected slowdown in 2020 in the Asia Pacific.
Break-up of the profiles of primary participants:
• By Company Type – Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
• By Designation – C-level – 23%, Director-level – 59%, and Others – 18%
• By Region – North America - 30%, Europe – 40%, APAC – 20%, and RoW – 10%
Key players in the market include SCHOTT (Germany), AMETEK, Inc. (US), Amkor Technology, Inc. (US), Texas Instruments Incorporated (US), Teledyne Technologies (US), Kyocera Corporation (Japan), Materion Corporation (US), Egide (France), Micross Components Inc. (US), Legacy Technologies Inc. (US), Willow Technologies (UK), Renesas Electronics Corporation (US), SGA Technologies (UK), Complete Hermetics (US), Special Hermetic Products Inc. (US), Coat-X (Switzerland), Hermetics Solutions Group (US), StratEdge (US), Bel Fuse, Inc., ITT Inc. (US), Rosenberger (Germany), Mackin Technologies (US), Palomar Technologies (US), CeramTec (Germany), and Aptiv PLC - Winchester Interconnect (Ireland).
The global hermetic packaging market is segmented into the configuration, type, application, industry, and geography.The market based on configuration is segmented into pressed ceramic packages, multilayer ceramic packages, and metal can packages.
Based on the types of materials, the hermetic packaging market has been split into passivation glass, reed glass, transponder glass, glass, and metal in combination (glass-metal sealing (GTMS)), and ceramic and metal in combination (ceramic–metal (CERTM) sealing).Based on the application, the market is segmented into transistors, sensors, leasers, airbag ignitors, photodiodes, oscillating crystals, MEMS switches, and others.
Industries that are included in the study of the market include military & defense, aeronautics & space, automotive, energy nuclear safety, medical, telecommunications, consumer electronics, and others. The hermetic packaging industry is segmented into four regions—North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
Reasons to buy the report:
• Illustrative segmentation, analysis, and forecast for markets based on configuration, type, application, industry, and region have been conducted to give an overall view of the hermetic packaging market.
• The value chain analysis has been performed to provide an in-depth insight into the hermetic packaging industry.
• Major drivers, restraints, opportunities, and challenges pertaining to the hermetic packaging market have been detailed in this report.
• Detailed information regarding the COVID-19 impact on the hermetic packaging market has been provided in the report.
• The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.
Read the full report: https://www.reportlinker.com/p04442997/?utm_source=GNW
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