The growth of wireless communication technology, along with the integration of electronic components in various end-use verticals, is propelling industry growth.
LTCC Market Size – USD 3.06 billion in 2019, Growth - CAGR of 2.2%, Trends – Incisive demand for the 5G mobile communication technology and smart devices.
The Global LTCC Market size is estimated to reach USD 3.67 billion from USD 3.06 billion in 2019, exhibiting a CAGR of 2.2% through 2027, according to a new report by Reports and Data. The market growth is driven by the growing demand for LTCC and HTCC for data communication, automotive, microwave packaging, aerospace defense, medical end-use, power electronics, and consumer electronics application. LTCC and HTCC offer a three-dimensional structure. They are suitable for integration in electrical circuits, in optical-based sensory solutions, and to build up fluidic or mechanical solutions.
The introduction of innovative solutions and material systems combined with the benefits of thick film technologies and multilayer ceramic in order to meet the increasing demand for electronics functioning in extreme temperatures will boost LTCC Market growth.
The materials used in HTCC are quite cheaper than LTCC, and HTCC has a higher firing temperature that enables only the refractory metals to be used, such as tungsten and molybdenum. The LTCC is designed for much lower firing temperature that allows noble metals such as silver, gold, copper, palladium, and others to be used.
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Top Companies: KYOCERA Corporation, Nikko Company, KOA Corporation, Micro System Technologies, Ltd., DowDuPont Inc., The NGK Spark Plug Co., Maruwa Co. Ltd., Murata Manufacturing Co., Ltd., Yokowa Co. Ltd., and Hitachi Metals Ltd., among others.
Further Key Finding from the Report Suggestion:
- On the basis of process type, the HTCC segment is estimated to witness major growth through 2027 due to extensive applications in various end-use industries, including aerospace, military equipment, medical devices, and other high-temperature solutions.
- The LTCC segment accounted for 73% of the Global LTCC and HTCC Market revenue share in 2019 and is forecast to experience notable growth due to increasing product usage as antenna-in-package devices for multiple concurrent connections and ultra-low latency in addition to the ultrafast speeds.
- On the basis of material type, the ceramic material segment is poised to contribute significantly towards the LTCC and HTCC market growth due to its prominence in the telecommunication industry. Innovation in the 5G mobile communication technology will further boost segmental growth.
- Based on end-use, the automotive segment accounts for the largest LTCC and HTCC market share and is estimated to register a CAGR of 2.5% over the analysis period. In a bid to ramp up the uptake of the hybrid technology for automotive applications, assembling companies and automakers will require LTCC incorporation for the design, specification, building as well as testing of system integrity and functional demonstrations in harsh conditions, which will fuel product demand.
- Telecommunication is another leading end-use sector and is expected to account for 34.6% of the market share by 2027 on account of extensive product incorporation, especially the LTCC.
- In the regional landscape, North America is set to witness a growth rate of 2.7%over the forecast period, on account of increasing investment in wireless telecommunication, modern military equipment, and high consumer preference for premium electronics.
- Europe is forecast to account for 20.4% of the global LTCC and HTCC market share by 2027.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global LTCC Market is segmented into:
Process Type Outlook (Revenue: USD Billion; Volume: Tons; 2017-2027)
- LTCC (Low-Temperature Co-Fired Ceramic)
- HTCC (High-Temperature Co-Fired Ceramic)
Material Type Outlook (Revenue: USD Billion; Volume: Tons; 2017-2027)
- Glass-ceramic
- Ceramic
End-Use Verticals Outlook (Revenue: USD Billion; Volume: Tons; 2017-2027)
- Automotive
- Telecommunications
- Aerospace Defense
- Consumer Electronics
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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