PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258806
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258806
According to Stratistics MRC, the Global Hermetic Packaging Market is accounted for $3.95 billion in 2022 and is expected to reach $5.70 billion by 2028 growing at a CAGR of 6.3% during the forecast period. Hermetic packaging is a high-level packing technique that is primarily used in semiconductor and electronics manufacturing, as well as in active and passive electronic devices. Moreover, hermetic packaging shields the electronic systems from external factors that could harm electrical connections or delicate electronic components, such as changes in atmospheric pressure, moisture, soil, and other dangers. By increasing the service life of electrical components, it contributes significantly to the safe and reliable performance of many healthcare and technological equipment.
According to SIPRI Military spending in the United States is expected to exceed USD 778 billion in 2020, a 4.4% increase over 2019.
Hermetic goods offer protection from a range of environmental factors, including soil/grime, moisture/humidity, variations in atmospheric pressure, and other natural hazards that could harm delicate electronics or interfere with electrical connections. Applications for products that need to be hermetically sealed if their functionality is disrupted since doing so could have disastrous consequences. As a result, hermetic packaging is increasingly being used to protect extremely sensitive electronic components, and this trend is only projected to continue throughout the forecast period. This is one of the main variables influencing the market for hermetic packaging.
Due to their harsh surroundings and important uses, microelectronic components used in military, aerospace, and medical systems must adhere to the strictest criteria for hermetic packaging. The tightening of regulations forces businesses to purchase new leak test equipment since outdated equipment lacks the sensitivity needed to test in accordance with the new criteria. Providers of hermetic packaging must abide by these criteria in order to gain market share at the cost of higher costs. It is anticipated that the market growth will be constrained by these strict regulations for hermetic packaging.
Smart gadgets have significantly shrunk in size thanks to contemporary micro-technology, despite their complexity and integration growing. Microelectronics packaging needs to be dependable and small because of this. The packaging for life-critical items, such as implantable medical devices, must offer a superior hermetic environment to shield the device from contact with the body. The development of innovative packaging techniques is anticipated to be facilitated by the miniaturisation of implantable medical devices of the next generation.
Polymeric materials, as opposed to metals, ceramics, and glasses, are used to create the nearly hermetic packaging. They are also referred to as quasi-hermetic, not quite hermetic, or almost hermetic materials. These packaging techniques have the potential to be trustworthy alternatives to hermetic packaging if they are produced, created, and tested correctly. During the projection period, near-hermetic packaging is anticipated to be utilised instead of hermetic packaging because of its advantages, including lower cost, lighter weight, and smaller size, as well as anticipated growth in production and the development of standardisation.
The latest COVID-19 epidemic has impacted the resources and financial situation of hermetic packaging suppliers. A worldwide health crisis brought on by the pandemic is having a negative impact on global financial markets, national economies, and end-use businesses for hermetic packaged goods. This is anticipated to trigger an economic slump and have a detrimental impact on the demand for electrical components that are hermetically sealed. The overall long-term impact of COVID-19 on the hermetic packaging market is anticipated to rely on a number of variables, including the pandemic's global spread and length, the response of different governments around the world, and the disease's severity.
The reed glasses segment is estimated to have a lucrative growth. Through millions of switching cycles, Reed Glasses offer incredibly stable encapsulation of reed switches. Where discrete electronic components need to be sealed, isolated, or protected, glass tubes are frequently employed in electronic applications. Yet, the purpose of this glass is typically to hermetically seal or electrically insulate passive components. Hot water boiler switches, belt sensors, and centralised locking systems for automobiles have all utilised reed glass.
The military & defense segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the demand for hermetic packaging is anticipated to increase over the course of the forecast period as a result of rising security concerns, expanding defence budgets, and shifting political dynamics. Hermetic packaging is likely to experience growth due to rising public and private expenditure in space exploration.
Asia Pacific is projected to hold the largest market share during the forecast period owing to factors like rising energy needs, developing economies, and rising defence spending, this market is expanding in the area. The demand for hermetic packaging for delicate electronic components is increasing as a result of the growing military prowess of emerging nations like China, India, and South Korea.
North America is projected to have the highest CAGR over the forecast period, owing to the region's government's increased spending on the aerospace and defence industries. Also, the aviation sector boosts demand for hermetic packaging by relying on new aircraft, which benefits the hermetic packaging sector. In the automotive industry, hermetic is utilised to guarantee sensor performance in rollover devices and airbag apparatus. As a result, the market might require hermetic packaging if airbag equipment becomes more common.
Some of the key players profiled in the Hermetic Packaging Market include: Legacy Technologies, Inc., NGK Spark Plug Co., Ltd., Schott AG, Ametek, Inc., Mackin Technologies, SST International, Teledyne Microelectronic Technologies, Willow Technologies, Kyocera Corporation, Sinclair Manufacturing Company, Egide S.A., Special Hermetic Products, Inc., Amkor Technology, Materion Corporation and SGA Technologies.
In August 2019, KYOCERA Corporation inaugurated its new Minato Mirai Research Center in Yokohama, Kanagawa Prefecture, Japan. The center was created with the aim of promoting open innovation and the development of new business and technologies.
In June 2019, SCHOTT launched new SCHOTT HEATAN feedthroughs to expand its hermetic sensor packaging portfolio. SCHOTT HEATAN feedthroughs can perform reliably in corrosive, high-heat environments beyond 1000°C.
In February 2019, AMETEK Coining-a unit of AMETEK's Electronic Components and Packaging division launched the Copper-Core Connect-a cost-effective, innovative alternative to thick solder preforms that are used in high-performance electronic packaging.
In July 2018, SCHOTT signed an agreement to acquire Primoceler to expand the company's hermetic packaging portfolio with glass micro bonding technology. This bonding technology offers excellent biocompatibility with new glass types. This technology creates new possibilities for wafer level chip scale packaging (WL-CSP) in a wide range of applications such as MEMS devices, medical implants, and other reliability-critical electronic and optical devices.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.