January 16, 2020
According to the research report titled ‘Hermetic Packaging Market Size By Configuration (Multi-layer Ceramic, Pressed Ceramic, Metal Can), By Product (Ceramic-Metal, Glass-Metal, Passivation Glass, Transponder Glass, Reed Glass), By Application (Sensors, Lasers, Transistors, MEMS (Microelectromechanical) Switches, Airbag Initiators, Photodiodes),By Industry (Military & Defense, Aerospace, Automotive, Medical, Telecommunication), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report LLC, the global hermetic packaging market is expected to be worth USD 6 billion by the year 2026.
According to the report, growing middle class population along with increasing expenditure on flights are major factors driving the hermetic packaging market growth. Flourishing aircraft industry is also aiding the expansion of the market. Hermetic packaging is extensively used in pacemakers, cochlear implants, and for small components used in endoscopic applications.
Developing healthcare sector and escalating expenditure for enhanced medical services in the U.S. are facilitating the business scenario. The hermetic packaging market is slated to expand further due to rapid expansion of U.S. aerospace and defense sector and surging military expenditure.
By configuration, the report states that multi-layer ceramic packages market segment is expected to register substantial growth during the estimated timeframe since they have compact design and exceptional temperature stability. On the other hand, pressed ceramic packages segment is expected to grow with a CAGR of 6% during the period of 2019-2026.
As per product type, reed glass hermetic packaging market segment is predicted to be worth USD 400 million by the year 2026. Reed glass packages possess properties such as excellent wear resistance and high reliability, which is aiding segmental share. Meanwhile, glass metal sealing segment is presumed to dominate the hermetic packaging market in the ensuing years since the product offers excellent electrical integrity and insulation properties.
Based on application spectrum, the report cites that MEMS switches application segment will expand with 8% CAGR through 2026. MEMS switches are delicate and comprise of various moving structures which interfere with the environment and hence augment the demand for hermetic packaging solutions in MEMS switches applications.
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Citing the end-user terrain, the medical industry is anticipated to grow with a CAGR of 7% during the period of 2019-2026. Hermetic packaging solutions provide efficient sealing of UV lasers for surgical drilling, cardiac implants, pacemakers, and defibrillators.
Special Hermetic Products Inc., SGA Technologies Ltd., Renesas Electronics Corp., Winchester Interconnect, Micross, Willow Technologies, EGIDE Group, KYOCERA Corp., Materion Corp., Amkor Technology, Teledyne Technologies Inc., Texas Instruments Inc., AMETEK. Inc., and SCHOTT AG are the prominent companies operating in the hermetic packaging market.
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