The hermetic packaging market is on the brink of substantial growth in the short term, with promising trends and opportunities on the horizon. A recent report unveils key insights into how this market is set to expand over the next few years.
Protecting Sensitive Electronics Fuels Market Growth
The growing reliance on electronic devices has significantly boosted the demand for effective packaging solutions to protect these sensitive components. Hermetic packaging, with its ability to shield electronic devices from external environmental conditions like pressure, humidity, and other hazards, is gaining traction. The hermetic packaging not only safeguards these devices but also prevents the intrusion of gases and liquids. Its robustness under extreme temperatures sets it apart from other packaging types. With the electronics sector witnessing unprecedented growth, the demand for hermetic packaging is poised for an upswing.
Lucrative Opportunities in Implantable Medical Devices
Implantable medical devices play a critical role in saving and improving lives, often incorporating complex electronic circuits. However, these long-term implantable devices are susceptible to damage over time due to exposure to bodily fluids. Protecting these devices from such environmental factors has become imperative. Hermetic packaging, with its advanced protective properties, is offering new growth opportunities for the market. As microtechnology continues to advance, the packaging of microelectronic devices is gaining paramount importance, especially in the medical field. Hermetic packaging ensures enhanced protection for electronic circuitry within implantable devices, driving its adoption and creating pathways for market expansion.
Reed Glass Demand on the Rise
Reed glass hermetic packaging is poised for a surge in demand in the coming years. Its functional properties, including high dielectric rating, superior attachment characteristics to metal surfaces, mechanical stability across various operating temperatures, and excellent electrical insulation, make it an attractive choice. Reed glass is increasingly being used for insulating passive components and providing isolation and protection, particularly in the automotive sector, where it plays a crucial role in centralized locking systems. The ability of reed switches to handle numerous make and break cycles without wear further contributes to its popularity. The growing adoption of reed glass in various industrial applications is expected to boost the revenue growth of the hermetic packaging market.
North America to Lead the Way
North America is expected to dominate the global hermetic packaging market, driven by the expanding aviation sector and the growing semiconductor industry. Increased government spending on aerospace and defense, as exemplified by the budget increase for defense, is set to fuel market growth. The region also benefits from rising consumer spending on electronics, with smartphones accounting for a significant share of consumer electronic retail sales. Hermetic packaging is increasingly used to protect electronic components from external agents, further bolstering the market's growth. Factors like the high demand for semiconductor silicon wafers, stable growth in the automotive sector, the presence of key players, and consistent economic growth all contribute to the positive outlook for the hermetic packaging market in North America.
Competitive Landscape
The global hermetic packaging market has witnessed significant developments, including new product launches and collaborations. For instance, in 2021, Avalanche Technology and Micross Components Inc. partnered to provide Power Hi-Rel Non-Volatile Memory solutions for aerospace applications. In 2022, SCHOTT introduced new hermetic packaging components, the SCHOTT LightView packaging components, which enhance opto-electronic performance for light engine systems.
Major players in the global hermetic packaging market include SCHOTT AG, Teledyne Technologies Incorporated, Ametek Inc., Materion Corporation, Micross Components Inc., Amkor Technology Inc., Kyocera Corporation, Texas Instruments Incorporated, Palomar Technologies, Complete Hermetics, and Special Hermetic Products Inc.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa):
https://www.fairfieldmarketresearch.com/report/hermetic-packaging-market
Our blog:
hermetic packaging market:
Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email:[email protected]
Comments