Northbrook, IL -- (SBWIRE) -- 09/19/2019 -- The report "LTCC Market and HTCC Market by Process Type (LTCC, HTCC), Material Type (Glass-Ceramic, Ceramic), End-use Industry (Automotive, Telecommunications, Aerospace & Defense, Medical), Region (Asia Pacific, North America, Europe, MEA, LA) - Global Forecast to 2024", is expected to grow from USD 916 million in 2019 to USD 1.1 billion by 2024, at a CAGR of 4.5% during the forecast period. The market is witnessing significant growth because of the growing demand from various end-use industries such as aerospace & defense, automotive, and telecommunications. Co-fired ceramic has good mechanical properties, such as excellent physical, chemical inactivity, hermicity, and high thermal stability properties.
Browse 73 market data Tables and 48 Figures spread through 119 Pages and in-depth TOC on "LTCC Market and HTCC Market - Global Forecast to 2024"
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Automotive was the largest end-user industry in 2019
The automotive end-use industry requires co-fired ceramics to have more functionality in electronic devices, electronic packaging solutions to be smaller, lighter, more complex, operate at higher frequencies, and accommodate more components per unit area. Co-fired ceramics are used mainly for their superior properties such as excellent physical, chemical inactivity, hermicity, and high thermal stability properties. The thermal stability properties of co-fired ceramic help manufacturers in increasing the overall efficiency of automotive.
LTCC process type is the fastest-growing segment in the overall market.
Co-fired ceramic is available in two process types, namely, LTCC (Low-Temperature Co-Fired Ceramic), and HTCC (High-Temperature Co-Fired Ceramic). LTCC process type is expected to register the highest CAGR during the forecast period as it is used in various applications such as high radio frequency, wireless devices, antennas, and radar.
Glass-ceramic material type is the fastest-growing segment in the overall market.
Co-fired ceramic is available in two material types, namely, glass-ceramic and ceramic. Glass-ceramic material is expected to register the highest CAGR during the forecast period as it can use noble metals such as gold, silver, and platinum for metallization on its layer.
The Asia Pacific is expected to be the largest market for co-fired ceramic during the forecast period.
The Asia Pacific is one of the leading LTCC market and HTCC market. The growing demand from end-use industries such as aerospace & defense, automotive, and telecommunications is driving the LTCC market and HTCC market in the region. The region has a presence of major co-fired ceramic manufacturers who focus on the adoption of various business strategies to increase the production of co-fired ceramic and meet the growing demand from end users. For instance, KOA Corporation acquired VIA Electronic GmbH to extend its LTCC market and HTCC market in Japan, in June 2017.
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Some of the prominent players in the LTCC market and HTCC market are KYOCERA Corporation (Japan), DowDuPont Inc. (US), Murata Manufacturing Co., Ltd. (Japan), KOA Corporation (Japan), TDK Corporation (Japan), Hitachi Metals, Ltd. (Japan), Yokowo Co., Ltd. (Japan), NGK SPARK PLUG CO., LTD. (Japan), MARUWA Co., Ltd. (Japan), Micro Systems Technologies (Switzerland), and NIKKO COMPANY (Japan). The strategies undertaken by these players include partnerships, new product developments, and acquisition.
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