Selbyville, Delaware, Dec. 12, 2019 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on hermetic packaging market which estimates the global market valuation for hermetic packaging will cross USD 6 billion by 2026. Significant development and expenditure in the North America healthcare electronics sector will positively influence the regional demand for hermetic packaging.
Rising middle class population, increasing consumer expenditure on flights, and evolving airline industry have substantially propelled the commercial aircrafts sector. For instance, the air travel market is predicted to be about 2.5 times larger over the next two decades, and the global commercial jet fleet is likely to double in size with traffic growth of over 4.5% by 2038. Positive outlook of commercial aircraft industry is likely to augment the consumption of hermetic connectors in sensors used in fuel systems and ensure the safety of delicate electronics.
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Some major findings of the hermetic packaging market report include:
- Expansion in the U.S. military & defense and aerospace sectors coupled with rising military expenditure to boost product demand.
- Multi-layer ceramic packages are likely to gain considerable market share by 2026 due to excellent temperature stability and compact design of circuit boards.
- Glass metal sealing type product dominated the market owing to its exceptional insulation properties coupled with excellent electrical integrity.
- Transistors garnered the highest market share on account of increasing adoption of hermetic packaging for its sealing applications.
- Major players operating in this market are SCHOTT AG, KYOCERA Corporation AMETEK Inc., AMKOR Technology, Teledyne, and Texas Instrument.
In addition, developments in the North American healthcare sector and increasing expenditure for better medical services in the U.S. are further likely to boost the product demand. The product is primarily utilized in the implantable medical devices, namely –pacemakers, micro-housings for miniature components in endoscopic applications, and cochlear implants. The U.S is also a leading country in R&D investments for medical devices accounting for 7% of the sales revenue, and the medical device market in the U.S. was the largest with over USD 150 billion in 2017.
Browse key industry insights spread across 165 pages with 189 market data tables & 24 figures & charts from the report, “Hermetic Packaging Market Size By Configuration (Multi-layer Ceramic, Pressed Ceramic, Metal Can), By Product (Ceramic-Metal, Glass-Metal, Passivation Glass, Transponder Glass, Reed Glass), By Application (Sensors, Lasers, Transistors, MEMS (Microelectromechanical) Switches, Airbag Initiators, Photodiodes),By Industry (Military & Defense, Aerospace, Automotive, Medical, Telecommunication), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/hermetic-packaging-market
Pressed ceramic packages configuration segment is likely to grow at a CAGR of around 6% during the forecast period as it is relative cost-effective than multilayer ceramic packages. Reed glass type is projected to account for USD 400 million in hermetic packaging market by 2026 owing to its high reliability and excellent wear resistance. Reed switches are employed in automotive sector as they open and close electrical systems without any external mechanical influence
MEMS switches application is likely to register a healthy CAGR of over 8% in the hermetic packaging market over the following years. These switches are very delicate and possess moving structures and interferes with the environment, thus, requiring hermetic packaging. The medical industry is estimated to register a robust CAGR of over 7% during the assessment period. Hermetic packaging offers efficient sealing of pacemakers, cardiac implants, UV lasers for surgical drilling, and defibrillators with high functionality characteristics.
Prominent industry players in the hermetic packaging market includes Materion Corporation, SCHOTT AG, Texas Instruments, Willow, Teledyne Technologies, Renesas Electronics Corporation, AMETEK.Inc., Legacy Technologies, Micross, EGIDE, KYOCERA Corporation, Winchester Interconnect, Special Hermetic Prod., and SGA Technologies. etc. Companies are engaged in acquisition and product innovation for expanding their business operations and gaining profitable growth.
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Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Hermetic Packaging industry 360° synopsis, 2016 - 2026
2.1.1. Business trends
2.1.2. Configuration trends
2.1.3. Product trends
2.1.4. Application trends
2.1.5. Sector trends
2.1.6. Regional trends
Chapter 3. Hermetic Packaging Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2026
3.3. Industry ecosystem analysis
3.3.1. Profit margin
3.3.2. Value addition
3.3.3. Distribution channel analysis
3.3.4. Vendor matrix
3.3.4.1. List of key raw material suppliers
3.3.4.2. List of key manufacturers
3.3.4.3. List of key/potential customers
3.4. Raw material trends
3.5. Innovation & sustainability
3.5.1. Patent analysis
3.6. Industry megatrends
3.7. Industry impact forces
3.7.1. Growth drivers
3.7.1.1. Development in the USA military & defense sector
3.7.1.2. Rising global demand for commercial aircrafts
3.7.1.3. Rising automotive sales in Asia Pacific region
3.7.1.4. Development in the North America healthcare sector
3.7.1.5. Development in electronics sector in Asia Pacific
3.7.2. Industry pitfalls & challenges
3.7.2.1. Stringent standards for hermetic packaging
3.7.2.2. Availability of substitute technology
3.8. Regulatory landscape
3.9. Growth potential analysis
3.10. Competitive landscape, 2018
3.10.1. Company market share, 2018
3.10.2. Strategy dashboard
3.11. Porter’s analysis
3.11.1. Supplier power
3.11.2. Buyer power
3.11.3. Threat of new entrants
3.11.4. Threat of substitutes
3.11.5. Industry rivalry
3.12. Price trends
3.12.1. Cost structure analysis
3.12.1.1. R&D cost
3.12.1.2. Manufacturing & equipment cost
3.12.1.3. Raw material cost
3.12.1.4. Distribution cost
3.12.1.5. Operating cost
3.12.1.6. Miscellaneous cost
3.13. PESTEL analysis
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https://www.gminsights.com/industry-analysis/foam-packaging-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.