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Hermetic Packaging Global Market Report 2023: Increase in Demand from the Automotive, Electronics, and Aerospace Industries Bolsters Growth
Hermetic Packaging Market
Dublin, March 08, 2023 (GLOBE NEWSWIRE) -- The "Hermetic Packaging Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The hermetic packaging market is projected to grow at a CAGR of 4.95% during the forecast period to reach US$5.420 billion by 2027, from US$3.864 billion in 2020.
An increase in demand from the automotive, electronics, and aerospace industries is expected to boost the hermetic packaging market.
Hermetic packaging is increasingly used to protect sensitive electrical parts, particularly in the automotive industry. For example, the hermetic seal is increasingly demanded by sensitive parts of the car which are prone to corrosion like air conditioning compressors, engine control, airbag igniters, seatbelt pre-tensioners, and others.
Furthermore, electronic components require metal, ceramic, and glass hermetic packaging that separates the micro electrical parts from the environment. Additionally, the use of hermetic seals in semiconductor devices is increasing as it protects the device from dust particles, pressure, shock, and vibration.
In addition, hermetic connectors are increasingly used in the aerospace industry as it is for terminals and headers within an airplane. Moreover, hermetic connectors ensure stability and integrity to delicate parts and are even used in fuel tanks to prevent seepage of fuel. Therefore, the end-user demand is increasing.
As per AMTEK's annual report, its EMG brand which specializes in automation solutions, thermal management systems, specialty metals, and electrical interconnects with wide applications of electronic packaging used in aerospace, defense, and medical recorded nets sales of US$890,737 million in 2021 in the United States. Hence, hermetic glass packaging, seal packaging, and metal can packaging for sensors and batteries witnessed an increase in demand from the electronic sector.
However, heaviness in glass packaging can break the packaging and contaminate the finished product, and corrosion that can affect metal packaging can hinder the hermetic packaging market.
Market Developments:
QnnectT which is a portfolio company of Arcline Investment Management acquired Hermetic Solutions Group in November 2022. It expanded Qnnect's offerings into hermetic packages and augmented its existing portfolio of specialty interconnect solutions.
SCHOTT launched hermetic packaging for augmented reality in San Francisco, USA, in January 2022 for RGB laser chips and MEMS mirrors in AR/VR/MR. The innovative packaging aims to enhance optoelectronic performance for augmented reality light engine systems.
Hermetic Solutions Group which is a global provider of highly engineered performance and protection solutions for mission-critical microelectronics acquired FilConn which is a leading manufacturer of precision high-reliability connectors, in September 2021.
During the forecast period, North America is expected to gain a significant share of the hermetic packaging market.
North America witnessed an increase in hermetic packaging as a result of increasing demand from the aerospace and electronic sectors. Furthermore, the increase in disposable income of people increased air transport in the region which requires constant protection of airplanes from the environment employing hermetic seal headers, connectors, and terminals. As per Teledyne Technologies, its aerospace and defense electronics accounted for 14% of sales in 2021. Additionally, CPS Technologies recorded US$11 million in orders for hermetic packaging in 2021, particularly hermetic packaging for aerospace, defense, and power electronics were increasingly demanded. Furthermore, technological advancements in hermetic packaging such as robotics hermetic packaging and laser hermetic packaging are gaining momentum.
Market Segmentation:
By Configuration
Multilayer Ceramic Packages
Metal Can Packages
Pressed Ceramic packages
By Type
Ceramic Metal sealing
Glass metal Sealing
Passivation Glass
Transponder Glass
Reed Glass
By Application
Transistors
Lasers
Photo Diodes
Airbag Ignitors
Others
By End-Use Industry
Military and Defence
Aerospace
Automotive
Energy
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Indonesia
Taiwan
Others
Key Attributes:
Report Attribute | Details |
No. of Pages | 144 |
Forecast Period | 2020 - 2027 |
Estimated Market Value (USD) in 2020 | $3.86 billion |
Forecasted Market Value (USD) by 2027 | $5.42 billion |
Compound Annual Growth Rate | 4.9% |
Regions Covered | Global |
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. HERMETIC PACKAGING MARKET, BY CONFIGURATION
6. HERMETIC PACKAGING MARKET, BY TYPE
7. HERMETIC PACKAGING MARKET, BY APPLICATION
8. HERMETIC PACKAGING MARKET, BY END-USE INDUSTRY
9. HERMETIC PACKAGING MARKET, BY GEOGRAPHY
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
11. COMPANY PROFILES
Companies Mentioned
SCHOTT AG
AMETEK
Amkor Technology
Texas Instruments
Teledyne Microelectronics
Kyocera Corporation
Materion Corporation
Egide
Micross Components
Legacy Technologies
Hermetic Solutions Group
For more information about this report visit https://www.researchandmarkets.com/r/8oadbb
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