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Market Leader - Hermetic Packaging Market

The hermetic packaging market is in its growth phase and is expected to grow moderately during the forecast period. The said market is estimated at USD 3.25 Billion in 2018 and is expected to reach USD 4.52 Billion by 2023, at a CAGR of 6.80% during the forecast period. Growing need for protecting highly sensitive electronic components from extraneous particles, such as moisture, atmospheric pressure, and soil/grime; and demand from automobile electronics and aerospace industries are some of the major drivers for the hermetic packaging market.

Introduction of novel hermetic packaging techniques, such as glass-to-fiber optic seal (GTFOS) for harsh environment applications by AMETEK, and rising adoption of hermetic packaging in miniaturized implantable medical devices are further expected to uncover significant opportunities for the growth of the said market in the upcoming years. New trends in the design methods of hermetic packaging are being researched for manufacturing optical components that can be adopted for high-speed wired communication.

The market for MEMS switches is expected to grow at the highest rate during the forecast period. The MEMS switches find potential applications in the automotive industry for complete automatization of the automobiles. However, with growing aging population in the developed countries, the need for medical implants, such as ventricular assist device (VAD), is also expected to grow. As hermetically packaged MEMS switches can protect medical implants from the fluids inside the human body and assure reliable operation, the adoption of hermetically packaged MEMS switches for medical applications is expected to provide a key area of growth for the market players to capture larger market share.

Owing to the consistent participation in space research activities worldwide, the market for the aeronautics and space industry is expected to grow at the highest rate during the forecast period. For instance, in August 2016, China launched the first-ever quantum satellite in an effort to develop an un-hackable communications system. Prior to this, in November 2013, India had successfully launched Mangalyaan, Mars orbiter mission, which was one of the cost-effective missions conducted across the world. National Aeronautics and Space Administration (NASA) has been continuously involved in many space research activities and is expected to continue the same with the help of space missions such as Juno-mission to Jupiter. Such space research activities planned by countries across the world are expected to offer a potential market for the hermetic packaging market players.

Related Reports:

Hermetic Packaging Market by Configuration (Multilayer Ceramic Packages, Metal Can Packages, Pressed Ceramic Packages), Type (Ceramic-Metal Sealing, Glass-Metal Sealing), Application, Industry, and Geography - Global Forecast to 2023

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