According to the new market research 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.
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The use of co-fired ceramic is increasing due to its useful properties such as excellent physical, chemical inactivity, hermicity, and high thermal stability. The LTCC market and HTCC market size is estimated to be USD 916 million in 2019 and is expected to reach USD 1.1 billion by 2024, at a CAGR of 4.5% between 2019 and 2024. The increasing use of co-fired ceramic in the automotive, telecommunications, and aerospace & defense is bolstering the market growth, globally.
Based on material used, the market for co-fired ceramic is segmented as glass-ceramic and ceramic. Glass-ceramic material type dominated the overall LTCC market and HTCC market in 2018, in terms of volume & value both. This is due to the high demand for glass-ceramic material used in LTCC process for automotive, telecommunications, aerospace & defense applications. In the automotive industry, it is primarily used to make advanced wireless technology such as Bluetooth, used in high radio frequencies. In the telecommunications sector, co-fired ceramics are used in mobiles, play stations, and high radio frequency data transfer.
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The LTCC market and HTCC market size is estimated to be USD 916 million in 2019 and is projected to reach USD 1.1 billion by 2024, at a CAGR of 4.5% between 2019 and 2024. Owing to their superior performance properties such as chemical inactivity, hermicity, and high thermal stability over traditional circuit boards, namely printed circuit boards, co-fired ceramics are gaining increasing demand from various industries such as aerospace & defense, automotive, telecommunications, medical, and industrial.
The major co-fired ceramic manufacturers are KYOCERA Corporation (Japan), DowDuPont Inc. (US), Murata Manufacturing Co., Ltd. (Japan), KOA Corporation (Japan), Hitachi Metals, Ltd. (Japan), Yokowo Co., Ltd. (Japan), NGK SPARK PLUG CO., LTD. (Japan), MARUWA Co., Ltd. (Japan), Micro Systems Technologies (Switzerland), TDK Corporation (Japan), and NIKKO COMPANY (Japan). These players have adopted various growth strategies, such as new product development, partnership, and acquisition, to expand their presence in the market further. New product development was the most commonly adopted strategy by the major players from 2015 to 2018, which helped them to increase their product offerings and broaden their customer base.
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KYOCERA Corporation (Japan) is a well-established company in the global LTCC market and HTCC market. The company offers a high-quality, co-fired ceramic product. It is continuously engaged in providing high-grade, co-fired ceramic products. As a part of its growth strategy, it is focused highly on new product development and partnership. For instance, in 2018, the company developed an ultra-small ceramic package using Low-Temperature Co-Fired Ceramic for the high-frequency antenna.
Murata Manufacturing Co., Ltd. (Japan) is another major manufacturer of co-fired ceramics. It is one of the global leaders in the design, manufacture, and supply of advanced electronic material, leading-edge electronic components, and multi-functional, high-density modules. As a part of its growth strategy, the company strives to increase its profitability and provide quality products to long-term strategic customers. The company is an expert in creating innovative products and solutions for the electronics industry. It offers low-temperature co-fired ceramic multilayer substrates for the LTCC market and HTCC market. The product uses silver or copper for metallization path. It is also recognized as glass ceramics because of the mixture of glass with primary raw material, alumina. It caters to demand from automotive end-use industry. The product has applications in the anti-lock brake system, electronic stability control, electric power steering, and transmission control units.
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