Newark, Feb. 15, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global Hermetic Packaging market is expected to grow from USD 4.46 Billion in 2023 to USD 7.23 Billion by 2033, at a CAGR of 4.95% during the forecast period 2024-2033.
This growth is attributed to the surge in R&D work in the aerospace and defence sector. The hermetic packaging of the electronic system protects it from external factors like moisture changes and atmospheric pressure that can harm the sensitivity of the electronic components or electrical connections.
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Competitive Strategy
To enhance their market position in the global Hermetic Packaging market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In July 2022: AMETEK Engineered Interconnect and Packaging (EIP), a leading organization in the making of electronic parts, interconnects, and packaging, planned to expand its presence in Sealtron brands and Hermetic Seal to support the growing demand from military and commercial aerospace sectors. All these factors are helping the organization expand its market share in the Hermetic Packaging market.
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Market Growth & Trends
Hermetic products protect sensitive electronics and electrical connections from external elements like moisture, dirt, atmospheric pressure and other natural risks. There is a growing demand for hermetic packaging for safeguarding delicate electrical components. There is a growing demand for consumer electronics, and its demand is increasing in the packaging sector in many new sectors. The change in lifestyle preferences and growing inclination toward using smart electronic devices are some of the factors propelling the expansion of the consumer electronics sector. The growing disposable income of the people, along with a surge in demand for internet connectivity, is boosting the use of electronic gadgets. Also, governments worldwide are promoting digitalization, which eventually is leading customers to use many electronic devices. All these factors are driving the hermetic packaging market. This packaging protects the electronic components from external effects like moisture, air pressure fluctuations, dirt, etc., which can potentially damage the electronic devices. To ensure the reliable and safe operation of many medical and electronic devices, it is crucial to continue the service life of electronic systems. Hermetic packaging has been broadly used to protect MEMS equipment from moisture and gas in the healthcare, defence, aerospace and automotive industries. As technology advances, several hermetic packaging manufacturers are developing different products that protect extremely sensitive electronically implanted medical devices and other electronic components. It has several applications in aeronautics, space, electronics and automotive components, driving the market's growth. The demand for hermetic packaging for electronics is growing globally as these are broadly used in aerospace, military, defence, and commercial applications. Moreover, there is low-cost air travel, along with low fuel prices, attracting many new travellers globally. It has increased in the flight frequency. The aviation sector has increased the demand for hermetic packaging in technology as they are supporting new aircraft which support the hermetic electronic packaging market.
Key Findings
• In 2023, the ceramic to metal sealing segment dominated the market with the largest market share of 53.81% and market revenue of USD 2.40 Billion.
The product segment is divided into ceramic to metal sealing, glass to metal sealing, transponder glass, reed glass and passivation glass. In 2023, the ceramic to metal sealing segment dominated the market with the largest market share of 53.81% and market revenue of USD 2.40 Billion. Ceramic-to-metal sealing is broadly used in implantable electronic devices like cochlear implants, pacemakers and neurostimulators.
• In 2023, the military & defence segment dominated the market with the largest market share of 31.21% and market revenue of USD 1.39 Billion.
The application segment is divided into military & defence, aeronautics & space, healthcare, automotive, telecom and others. In 2023, the military & defence segment dominated the market with the largest market share of 31.21% and market revenue of USD 1.39 Billion. Expanding the military and defence organizations in countries like the US, Canada, China, India, and Mexico is fueling the market's growth.
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Regional Segment Analysis of the Hermetic Packaging Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region occurred as the largest market for the global Hermetic Packaging industry, with a market share of 43.89% and a market value of around USD 1.96 Billion in 2023. This market share is attributed to growing hermetic seal demand from many end-user sectors like the region's telecommunications, automotive, and military& defence. Emerging economies like China have significantly contributed to the region's expansion of hermetic packaging. It is due to the country's booming semiconductor industry and established electronics manufacturing sector.
Key players operating in the global Hermetic Packaging market are:
• Egide S.A.
• Willow Technologies
• Schott AG
• Ametek Inc.
• Sinclair Manufacturing Company
• Hermetic Solutions Group
• NGK Spark Plug Co. Ltd.
• Legacy Technologies Inc.
• Teledyne Microelectronic Technologies
• Special Hermetic Products Inc.
• SST International
• Kyocera Corporation
• Mackin Technologies
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global Hermetic Packaging market based on below mentioned segments:
Global Hermetic Packaging Market by Product:
• Ceramic to Metal Sealing
• Glass to Metal Sealing
• Transponder Glass
• Reed Glass
• Passivation Glass
Global Hermetic Packaging Market by Application:
• Military & Defence
• Aeronautics & Space
• Healthcare
• Automotive
• Telecom
• Others
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About the report:
The global Hermetic Packaging market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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