Hermetic Packaging Market Positive Long-Term Growth Outlook 2016 – 2024
Sarasota, FL -- (SBWIRE) -- 08/24/2017 -- Global Hermetic Packaging Market: Overview
Hermetic packaging is a process of wrapping the products in such a way that there is no space for air, oxygen, chemicals, and others to enter the product. The hermetic packaging is used for a number of applications in the areas such as food and beverages, aeronautics, architectural structures, and others.
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Global Hermetic Packaging Market: Growth Factors
The major factors that drive the global hermetic packaging market growths are the rising demand for energy and hermetically packaged products, especially the electronic components. The various application in the areas such as space, electronics, aeronautics, and automobile components help propel the global market growth. The demand for multilayer ceramic packaging for the high-frequency purposes such as wireless communication, optical communication, and data communication fuels the growth of the global hermetic packaging market. The growth and the development of the aeronautics and space industry escalate the global market. The stringent regulatory and military policies regarding its usage hinder the growth of the global market.
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Global Hermetic Packaging Market: Segmentation
The global hermetic packaging market is segmented based on the type, configuration, end-user industry, and application. The type segment is divided into transponder glass, glass–metal sealings, reed glass, passivation glass, and ceramic–metal sealing. The configuration segment is categorized into metal can packages, multilayer ceramic packages, and pressed ceramic packages. The end-user industry is bifurcated into aeronautics and space, military and defense, energy and nuclear safety, medical, automotive, telecommunication, and others. The energy and nuclear safety subsegment are further classified into oil and gas applications, fuel cell manufacturing, and electrical penetration control. The medical subsegment is grouped into dental applications and veterinary applications. The automotive subsegment is divided into battery protection, RFID transponder operation, and airbag initiation. The application segment is categorized into MEMS switches, lasers, sensors, airbag ignitors, oscillating crystals, photodiodes, transistors, and others. The multilayer ceramic packages segment is expected to dominate the global market.
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Global Hermetic Packaging Market: Regional Analysis
Since a very long period, the Asia-Pacific region is expected to dominate the global hermetic packaging market. The growing need for hermetically packaged products in the Asia-Pacific region is expected to fuel the market in that region. The emerging regions such as China, India, and Japans increasing demand for the energy and the rising GDP growth rate propels the overall growth rate of the global market. The developing regions such as Japan, China, and India's contribution in the satellite launches, space exploration, and space research are expected to drive the global hermetic packaging market growth. The growing military and defense industries in the regions such as U.S., Canada, Mexico, China, and India also boost the global market growth.
Global Hermetic Packaging Market: Competitive Players
The key players in the global hermetic packaging market include AMETEK Inc., SCHOTT AG, Texas Instruments Incorporated, Teledyne Microelectronics, Amkor Technology, and Micross Components Inc. The other players dominating the global market include Materion Corporation, Legacy Technologies Inc., Willow Technologies, and KYOCERA Corporation.
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