Hermetic Packaging Market Value Garner US$ 5.4 Bn by 2026
Global hermetic packaging market value is expected to reach around US$ 5.4 Bn by 2026, growing at a CAGR of around 6.7% over the forecast period 2019 to 2026
LOS ANGELES, Jan. 23, 2020 /PRNewswire/ -- Acumen Research and Consulting, Recently Published Report on "Hermetic Packaging Market Size, Share and Forecast, 2019 - 2026".
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Geographically, the global market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific accounted for the largest share of the market due to high energy needs, the presence of emerging economies, and increasing defense spending. China, Japan, India, and South Korea are some of the key contributing countries in the region. Furthermore, the local presence of market players and expanded consumer electronics sector in the region are also contributed for the dominance of the region. North America held the second largest market across the world in 2018. Aeronautics and space industry is one of the major consumers for hermetic packaging in this region. The high cost of hermetic packaging is responsible for ongoing research to find a substitute, which is anticipated to hinder the market growth.
Based on the type, the market has been segmented into ceramic to metal, glass to metal, transponder glass, reed glass, and passivation glass. Ceramic to metal sealing type segment held the largest market in 2018. This can be attributed to its ability to provide long and durable hermetic sealing; the broad range of applications in various industries, and it offers great insulation from electrical signals when compared to glass to metal seals. Ceramic–metal seals are utilized in industries that demand high voltage, high operating temperature, special chemical resistance, or biocompatibility. Transponder glass is gaining demand in the Asia Pacific region due to the huge livestock market in the region. The increasing access to technology, growing disposable income, and awareness about hermetic packaging across the region are facilitating the usage of RFID devices by farmers, thereby driving the demand for transponder glass-based hermetic packages.
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Based on the application, the global hermetic packaging market is segmented into aeronautics & space, military & defense, automotive, healthcare, telecom, and others. The military & defense segment held the maximum share of the market in 2018. Growing military and defense budgets, rising internal and external security threats across the world, stable growth in global GDP, and falling crude oil pricesare some of the key factors expected to propel investment in the defense sector, which would further lead to an increase in demand for hermetic packaging during the forecast period. The application of hermetic packaging in the field of space & aeronautics and the automotive sector is growing rapidly. Growth in disposable income, increase in the need for automobiles, in addition to the growing affordability of automobiles, areexpected to propel the market growth during the forecast period.
Key players operating in the hermetic packaging market are Ametek, Inc., Egide S.A., Kyocera Corporation, Legacy Technologies, Inc., Mackin Technologies, NGK Spark Plug Co., Ltd., Schott AG, Sinclair Manufacturing Company; Special Hermetic Products, Inc., SST International, Teledyne Microelectronic Technologies, and Willow Technologies. Key players operating in the industry are adopting various inorganic and organic strategies to expand their geographical as well as technical presence. Mergers, acquisition, product launch, and collaboration agreement were some of the activities that were carried out by companies in the last few years.
Some of the key observations regarding the hermetic packaging industry include:
- In September 2019, Schott AGexpanded its portfolio of hermetic packaging by innovating HEATAN technology. The technology facilitates reliability in ultra-high temperature applications even beyond 10000C. Schott AG utilized Primoceler glass micro bonding method to designed ultra-miniaturized chip-size sensor packages.
- In February 2019, Windjammer capital Investors acquired Hermetic Solutions Group, hermetic packaging and components provider. The company designed products that can reliably work in demanding environments such as space, vibration, weight, moisture, and temperature.
- In July 2018, SCHOTT acquired Primoceler to expand SCHOTT's hermetic packaging portfolio with an innovative new glass micro bonding technology that will create new possibilities for electronic implantable devices. An international technology group, Primoceler, specializes in hermetic packaging.The company also designed hermetic packaging to protect sensitive electronics in medical implants. The acquisition allowed SCHOTT to utilize Primoceler's micro bonding method that uses laser technology to manufacture ultra-miniature electronic, vacuum-tight, and optical devices without any added materials or heat.
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