The Global LTCC & HTCC 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 materials and chemicals market revenue has expanded significantly over the years and is expected to register robust revenue growth over the forecast period. Technological advancements, rising investments in research and development activities, increasing demand for raw materials in various sectors such as manufacturing, agriculture, food and beverage, pharmaceutical and biotechnology is boosting market growth. In addition, changes in consumer preference, rising disposable income especially in the developing economics, rising funds by several public and private organizations, and increasing demand for biodegradable products are factors boosting market growth.
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Key players operating in the global LTCC and HTCC market are 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.
These multilayer substrates are used for various components, including electronic control units, sensors, and LED packages. These products find extensive usage in the automotive sector. The ongoing research for self-driving vehicles may further supplement LTCC and HTCC market share over the forecast period.
Further key findings from the report suggest
- 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.
- In September 2018, Unicharm Corporation, a leading hygiene products manufacturing company, signed an agreement to acquire Cayman Limited, a leading manufacturer of the LTCC & HTCC and other absorbent products in the Asia Pacific region.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/ltcc-and-htcc-market
For the purpose of this report, Reports and Data has segmented the global LTCC & HTCC Market on the basis of process type, material type, end-use verticals, and region:
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)
End-Use Verticals Outlook (Revenue: USD Billion; Volume: Tons; 2017-2027)
- Aerospace & Defense
- Consumer Electronics
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Regional Outlook (Revenue: USD Billion; Volume: Tons; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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