The hermetic packaging market was valued at USD 3.06 Billion in 2017 and is expected to reach USD 4.52 Billion by 2023, at a CAGR of 6.80% during the forecast period. The base year considered for the study is 2017, and the market size forecast is provided for the period between 2018 and 2023. This report provides the market size and growth potential of the market across different segments such as configuration, type, application, industry, and geography. The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and challenges for the market. It also profiles the key players operating in the market. Factors such as adoption of hermetic packaging for protecting highly sensitive electronic components and growing demand from industries such as automobile electronics and aerospace are expected to propel the growth of the overall market.
The hermetic packaging market has witnessed enormous developments in the past few years. The market in APAC is expected to capture the largest share in 2017, followed by North America. The market in APAC is expected to grow at the highest rate between 2018 and 2023. Higher growth rates of APAC and North America regions are mainly attributed to the presence of a large number of manufacturing companies across these regions. The hermetic packaging market is highly competitive with a number of big, as well as small players.
To know about the assumptions considered for the study, download the pdf brochure
Till 2017, the hermetic packaging market was dominated by Teledyne Microelectronics (US), SCHOTT AG (Germany), AMETEK (US), Amkor Technology (US), Texas Instruments (US). Product launches and acquisitions were the prevailing strategies adopted by the top players to capture a larger share in the hermetic packaging market.
SCHOTT AG (Germany) is one of the market leaders in the hermetic packaging market. The company has more than 130 years of experience in outstanding development, glass materials, and technology expertise and offers a broad portfolio of high-quality products and intelligent solutions. It is an innovative enabler for many industries, including the home appliance, pharmaceutical, electronics, optics, automotive, and aviation industries. SCHOTT AG is among the companies in the world that develop and manufacture ultrathin glasses that offer numerous advantages, and have excellent growth potential for use in the electronics and semiconductor industries. Product launches has been a key strategy adopted by the company for dominating the hermetic packaging market. For instance, in September 2015, the company developed a special coating that protects glass-to-metal seals against corrosion, even after being subjected to salt spray tests for 24 hours.
Teledyne Microelectronics (US), SCHOTT AG (Germany), AMETEK (US), Amkor Technology (US), Texas Instruments (US), Micross Components (US), Legacy Technologies Inc. (US), KYOCERA Corporation (Japan), Materion Corporation (US), and Willow Technologies (UK) are the hermetic packaging manufacturers offering hermetic packages to end users.
Scope of the Report:
|Report Name||Hermetic Packaging Market|
|Segments covered||Type, End User, Offerings, and Region|
|Geographic regions covered||North America, APAC, Europe, and RoW|
|Companies covered||Teledyne Microelectronics (US), SCHOTT AG (Germany), AMETEK (US), Amkor Technology (US), Texas Instruments (US), Micross Components (US), Legacy Technologies Inc. (US), KYOCERA Corporation (Japan), Materion Corporation (US), and Willow Technologies (UK)|
Teledyne Microelectronics (US), being one of the key players in hermetic packaging, has a well-established product portfolio focused on aerospace applications. The company offers multichip modules and microelectronics packaging solutions for spacecraft, satellites, and launch vehicles. For instance, Transmit/Receive Module (TRM) and Up/Down Microwave Module (UDMM) are two modules installed on Mars Science Laboratory Curiosity rover. Teledyne Microelectronics had assisted Jet Propulsion Laboratory of National Aeronautics and Space Administration (JPL NASA) (US) by providing extensive manufacturing designs for these two modules. The company is certified for MIL-PRF-38534 Class H and K standards by the Department of Defense, US, and follows these standards for manufacturing highly reliable microelectronic multichip modules.
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Address:630 Dundee Road Suite 430
Country: United States