Increasing use of hermetic packaging for preserving highly delicate electronic elements and the extensive use in defense, aerospace, and military along with commercial applications are fueling the demand
JERSEY CITY, N.J., Oct. 19, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Hermetic Packaging Market by Configuration (Multilayer Ceramic Packages, Pressed Ceramic Packages, Metal Can Packages), by Type (Ceramic–Metal (CERTM) Sealing, Reed Glass, Transponder Glass, Glass–Metal Sealing (GTMS), Passivation Glass), by Application (Military & Defense, Aeronautics and Space, Automotive, Medical, Telecommunications), Geography". According to Verified Market Research, the Global Hermetic Packaging Market was valued at USD 3.61 billion in 2019 and is projected to reach USD 5.84 billion by 2027, growing at a CAGR of 6.7% from 2020 to 2027.
This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.
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Browse in-depth TOC on "Hermetic Packaging Market"
202 - Pages
126 – Tables
37 – Figures
Factors influencing the Hermetic Packaging Market
Factors that are driving the growth of the market include growing demand for consumer electronics and wide applicability in packaging activities of growing sectors. In regards to the growing demand for consumer electronics; expanding middle-class, changing lifestyle preferences, growing inclination toward using smart electronic devices are among the primary factors driving the growth of the global consumer electronics market. In addition, the rising disposable income of consumers, coupled with the need for Internet usage, will propel the demand for electronic devices over the forecast period. Governments around the world are increasingly supporting digitalization, eventually promoting the usage of various electronic devices among consumers. This is anticipated to bolster the consumer electronics market on a global level.
Regarding the wide applicability in packaging activities of growing sectors, the applications of Hermetic Packaging in a variety of growing industries is another crucial driver for causing the Hermetic Packaging market to grow. Foods, pharmaceuticals, and certain chemicals require packaging that maintains a seal against flow of gases. Hermetic Packaging involves barrier packaging and vacuum packaging of food products which play a major role in the preservation of the content. Apart from Food and Beverage, Hermetic Packaging is involved in Construction and infrastructure development. Buildings designed with sustainable architecture principles use airtight technologies to conserve energy. Under low energy building, passive house, low-energy house, self-sufficient homes, zero energy building, and superinsulation standards. Some of the major players involved in the Global Hermetic Packaging Market are Texas Instruments, Materion Corporation, Schott Ag, Ametek, Amkor Technology, Inc, Kyocera Corporation, EGIDE, Micross Components, Inc., Teledyne Technologies, Egacy Technologies, Willow Technologies Inc., Intersil Corporation, SGA Technologies Limited.
Verified Market Research has segmented the Global Hermetic Packaging Market on the basis of Configuration, Type, Application, and Geography.
- Hermetic Packaging Market by Configuration
- Multilayer Ceramic Packages
- Pressed Ceramic Packages
- Metal Can Packages
- Hermetic Packaging Market by Type
- Ceramic–Metal (CERTM) Sealing
- Reed Glass
- Transponder Glass
- Glass–Metal Sealing (GTMS)
- Passivation Glass
- Hermetic Packaging Market by Application
- Military & Defense
- Aeronautics and Space
- Medical & Telecommunications
- Hermetic Packaging Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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