Hermetic Packaging Market to Reach Valuation of USD 5.12 Billion by 2028 - Rising Demand from Industries such as Aerospace and Automotive Electronics to Flourish Market
In terms of revenue, the Global Hermetic Packaging Market is expected to reach USD 5.12 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.5 % from 2022 to 2028. Increasing technology advancements in aerospace and automotive electronics are increasing the demand for hermetic packaging. This surge is owing to, the ability of hermetic packaging to protect highly sensitive electronic components, thus, driving the hermetic packaging market.
- Under the configuration segment, the metal can package sub-segment is anticipated to dominate the segment for hermetic packaging market and grow at a substantial CAGR. The growth is attributed to the ability such as better hermeticity as compared with other configurations for high-frequency applications.
- Glass-Metal Sealing (GTMS) sub-segment held a market significant share in 2021 for type segment. Owing to its excellent reliability and electrical integrity the demand for GTMS is increasing further propelling the growth of the market.
- Asia Pacific is the largest regional segment. This is due to its high demand and extraordinary R&D facility provided by the key market players. The market growth is further attributed to increasing defense expenditure in the U.S., as well as the presence of the world’s leading aircraft manufacturers.
Some of the key players in the Hermetic Packaging market include - Texas Instruments Incorporated (US), Amkor Technology, Inc. (US), AMETEK, Inc. (US), SCHOTT (Germany), Kyocera Corporation (Japan), Materion Corporation (US), Egide (France), Micross Components Inc. (US), Teledyne Technologies (US), and Legacy Technologies Inc. (US).
Hermetic packaging is a type of sealing that prevents the passage of air, oxygen, or other gases by making the object airtight. Since the past few decades, aerospace and automotive electronics have witnessed significant growth. Moreover, the demand for consumer electronics is increasing along with wide applicability in packaging activities of growing sectors. Moreover, the upward inclination toward using smart electronic devices is further increasing the demand for hermetic packaging. Furthermore, the disposable income of consumers is also increasing along with increasing internet usage. This is increasing the demand for electronic devices, further propelling the demand for hermetic packaging. Also, the investment from the government and several key players is increasing. These factors are boosting the market growth over the forecast period. However, the availability of substitute technology may act as a restraining factor for market growth.
Asia Pacific is anticipated to grow at the fastest Compound Annual Growth Rate (CAGR). The market growth in the region is attributed to the presence of emerging economies, increasing energy needs, and increasing defense spending.
The Hermetic Packaging is segmented as follows:
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Pages and in-depth TOC on "Hermetic Packaging Market by Configuration (Multilayer Ceramic Packages, Pressed Ceramic Packages, Metal Can Packages), by Type (Passivation Glass, Reed Glass, Transponder Glass, Glass-Metal Sealing (GTMS)), by Application (Transistors, Sensors, Lasers, Airbag Ignitors), by Industry (Military & Defense, Aeronautics & Space, Automotive, Energy & Nuclear Safety), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)"
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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