San Francisco, 21 March 2022: The Report LTCC And HTCC Market Size, Share & Trends Analysis Report By Product (LTCC, HTCC), By Application (Automotive, Telecommunication, Aerospace & Defense, Consumer Electronics), By Region, And Segment Forecasts, 2021 – 2028
The global LTCC And HTCC market size is expected to reach USD 3.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.5% from 2021 to 2028. The market growth is attributable to rising investments in wireless communication technology along with increasing penetration of automotive electronics in vehicles. In co-fired ceramic devices, the ceramic support structure and any resistive, conductive, and dielectric materials are fired in a kiln. Typical devices include capacitors, resistors, inductors, transformers, and hybrid circuits. Cofired ceramic devices are also used for multi-layer packaging in the electronics industry, such as in military electronics, Micro Electromechanical Systems (MEMS), microprocessors, and RF applications.
Co-firing can be divided into Low Temperature Co-fired Ceramics (LTCC) and High Temperature Co-Fired Ceramics (HTCC) applications. In LTCC, the sintering temperature is below 900°C. This permits the co-firing with highly conductive materials (silver, copper, and gold). For HTCC, the sintering temperature is higher, at around 1,600°C. HTCC components generally consist of multilayers of alumina or zirconia with platinum, tungsten, and moly manganese metallization. Based on application, telecommunication is expected to be the fastest-growing segment in the market owing to rising digitalization, expansion of 5G network, and booming e-commerce platform, which enables the use of wireless technologies and equipment within the telecommunication industry.
Growing trend of adopting online channels in daily life has fueled the demand for telecommunication products over the forecast period. Furthermore, growing investments in the aerospace and defense industry are proving to be fruitful for the growth of the market as LTCC substrates are extensively used in various aircraft and fighter jets. For instance, in January 2021, the Indian Air Force announced its plans to acquire 114 combat aircraft that would cost more than INR 1.3 lakh crore (~USD 173.1 million). Such investments are expected to increase the production of aircraft and in turn, augment the market growth.
Region-wise, Asia Pacific is anticipated to register the fastest growth rate over the forecast period. The region is a global manufacturing hub for electronics owing to the presence of several manufacturers of electronic devices and systems, including top players, as well as small- and medium-sized enterprises. The governments of different economies of the region focus on increasing foreign investments in their respective electronics industry, which in turn is expected to benefit market growth. The market is highly competitive in nature owing to the presence of numerous small and large players. Majority of the key players are mainly established in Japan. Key players are adopting strategies such as capacity expansions and investments in R&D activities to gain a higher share in the market.
Access Research Report of LTCC And HTCC Market @ https://www.grandviewresearch.com/industry-analysis/ltcc-htcc-market
LTCC And HTCC Market Report Highlights
- Based on product, the LTCC segment held a share of over 73.0% of the overall market in 2020. Its high share is attributable to its superior characteristics and limited drawbacks compared to other technologies
- Based on application, the telecommunication segment is anticipated to register the highest growth rate of 4.0% over the forecast period, owing to expansion of wireless communication technologies
- Based on region, North America is expected to progress at a CAGR of 3.8% over the forecast period owing to growing need for automotive electronics in the region, which is attributable to rising production of EVs
- LTCC is an evolving technology and thus gaining traction in various applications. For example, in August 2021, Mini-Circuits developed a new series of filters based on LTCC technology that caters to the millimeter wave 5G industry. The company also received a patent for the same
- Fluctuations have been witnessed in raw material pricing owing to an imbalance in the demand-supply scenario during the COVID-19 pandemic in 2020. Since the beginning of 2021, production has been affected too owing to an increase in energy and freight costs
List of Key Players of LTCC And HTCC Market
- Hitachi Metals Ltd.
- Kyocera Corporation
- Murata Manufacturing Co., Ltd.
- TDK Corporation
- NGK Spark Plug Ltd.
- Yokowo Co., Ltd.
- KOA Corporation
- Maruwa Co. Ltd.
Access Press Release of LTCC And HTCC Market @ https://www.grandviewresearch.com/press-release/global-ltcc-htcc-market
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