CHICAGO, July 11, 2019 /PRNewswire/ -- 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", published by MarketsandMarkets™, the LTCC market and HTCC market is projected to grow from USD 916 million in 2019 to USD 1.1 billion by 2024, at a CAGR of 4.5% between 2019 and 2024.
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Browse in-depth TOC on "LTCC Market and HTCC Market"73 – Tables 48 – Figures 119 – Pages
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Automotive was the largest end-user industry in 2019 The automotive end-use industry requires co-fired ceramics to have more functionality in electronic devices, electronic packaging solutions to be smaller, lighter, more complex, operate at higher frequencies, and accommodate more components per unit area. Co-fired ceramics are used mainly for their superior properties such as excellent physical, chemical inactivity, hermicity, and high thermal stability properties. The thermal stability properties of co-fired ceramic help manufacturers in increasing the overall efficiency of automotive.
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LTCC process type is the fastest-growing segment in the overall market.Co-fired ceramic is available in two process types, namely, LTCC (Low-Temperature Co-Fired Ceramic), and HTCC (High-Temperature Co-Fired Ceramic). LTCC process type is expected to register the highest CAGR during the forecast period as it is used in various applications such as high radio frequency, wireless devices, antennas, and radar.
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