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Increasing Demand For Ceramic Matrix Globally Will Drive The LTCC Market Growth.
HYDERABAD, TELANGANA, INDIA, October 13, 2022 / / -- IndustryARC, in its latest report, predicts that The size is forecast to reach US$392.6 million by 2027, after growing at a CAGR of 7.8% during 2022-2027. Low temperature co-fired ceramics (LTCC) is a multilayer glass-ceramic substrate that is co-fired with low resistance metal conductors at low firing temperature known as the sintering temperature. The increasing usage of LTCC for semiconductor device fabrication and micro-electromechanical systems production is a major factor driving the LTCC market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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Key takeaways :
1. Asia-pacific is the largest consumer of LTCC globally in terms of value and volume, owing to the increasing consumption in applications of various end-use industries like aerospace and defense, automotive, and transportation.
2. It is expected that the increasing adoption of LTCC in lightweight automobile components, and demand for low weight and high-strength materials in aircraft production would open up new market growth opportunities during the forecast period.
3. The low temperature co-fired ceramics are mainly used in high temperature and severe stress applications like gas turbine engines.
Glass-ceramic material holds the largest share, in terms of both value and volume of the global LTCC market
4. There is increasing penetration of LTCC technology in microwave and millimeter-wave frequency band in areas including Bluetooth module, front-end module of mobile phones, and WLAN, which is acting as a new driver to the market.
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Segmental Analysis :
1. The main advantage of glass-ceramic LTCC is that, it offers superior performance in advanced automotive sensing and hence, it is widely used in automotive electronics owing to the shifting transition from hardware to software-defined vehicles. Owing to such favorable factors of glass ceramics, it is projected to dominate the LTCC market during the forecast period.
2. The constantly growing automotive industry will hugely contribute to the LTCC market. Between March and May 2020, global automotive sales contracted by around 15% globally. But within a few months, the market recovered by 5% showing a positive sign of growth.
3. Asia-Pacific region held the largest share in the LTCC market in 2021 up to 39%, owing to the increasing demand from the automotive industry. Asia-Pacific's growing automotive industry in emerging economies like China, Japan, and India, is a key factor for the LTCC market to expand steadily in the coming years, which is followed by other major regions like North America, and South America.
Competitive Landscape :
The top 5 players in the LTCC Industry are -
1. Arkema S.A.
2. BASF SE
3. Hexcel Corporation
4. Cytec Industries Inc.
5. Koninklijke Ten Cate N.V.
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Venkat Reddy
IndustryARC
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