Grand View Research, Inc.
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09 Aug, 2022, 14:00 BST
SAN FRANCISCO, Aug. 9, 2022 /PRNewswire/ — The global hermetic packaging market size is expected to reach USD 6.06 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.4% from 2022 to 2030. Growing defense expenditure and active research in military applications are anticipated to drive the demand for the product.
Key Industry Insights & Findings from the report:
- The ceramic to metal sealing segment emerged as the largest product segment with a revenue share of over 50.0% in 2021. Growing utilization of the product in applications such as aeronautics and space and military and defense due to its reliability at extreme temperatures, coupled with the high mechanical strength of ceramics when welded with metals, is contributing to high industry growth.
- The military and defense segment was the largest application segment in 2021. Technological advancements, coupled with significant investments in defense weapons by major economies globally, are expected to propel the industry demand, thereby positively impacting the sales of hermetic packaging.
- The industry is characterized by intense competition among domestic as well as international players. Differentiation of products is likely to remain a key strategy for these players. Furthermore, various R&D activities are expected to rise in the industry as leading market players are keen on expanding globally.
- The aeronautics and space application segment is expected to expand at the fastest CAGR of 7.3% over the forecast period. Asian markets have attracted an increasing number of foreign direct investments (FDIs), most prominently China and India, making these markets lucrative for the expansion of hermetic packaging products.
- Asia Pacific is expected to retain its pole position in the industry throughout the forecast period. The presence of electronic hubs in countries such as China and Japan has been encouraging prominent market participants to expand their operations in this region.
Read 135-page full market research report for more Insights, “Hermetic Packaging Market Size, Share & Trends Analysis Report By Product (Ceramic To Metal Sealing, Glass To Metal Sealing, Transponder Glass), By Application, By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Hermetic Packaging Market Growth & Trends
High-capital projects and steady innovation and research in the aeronautics and space sectors are expected to create a positive outlook for industry growth over the forecast period. The growing use of optical fiber devices in telecommunications is also expected to further augment the demand for hermetic packaging. Hermetic packages in medical devices are expected to become more popular owing to the increasing demand for better healthcare services and equipment. Furthermore, technological advancements, resulting in the broader adoption of smart devices in developing economies, are expected to increase the demand for hermetic packaging.
Asia Pacific is expected to expand at the fastest CAGR over the forecast period. With the increasing automotive production and high demand for technology-driven vehicles, the use of hermetic packaging is predicted to increase over the forecast period. Extensive R&D activities are expected to promote the utilization of the product in automobile electronic devices, thus propelling the market growth.
Hermetic Packaging Market Segmentation
Grand View Research has segmented the global hermetic packaging market on the basis of product, application, and region:
Hermetic Packaging Market – Product Outlook (Revenue, USD Million, 2017 – 2030)
- Ceramic To Metal Sealing
- Glass To Metal Sealing
- Transponder Glass
- Reed Glass
- Passivation Glass
Hermetic Packaging Market – Application Outlook (Revenue, USD Million, 2017 – 2030)
- Aeronautics & Space
- Military & Defense
Hermetic Packaging Market – Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
o France oItaly
- Asia Pacific
o China oIndia
o Australia & New Zealand
- Central & South America
- Middle East & Africa
o South Africa
List of Key Players of Hermetic Packaging Market
- Schott AG
- Ametek, Inc.
- NGK Spark Plug Co., Ltd.
- Teledyne Microelectronic Technologies
- Kyocera Corporation;
- Egide S.A.
- Legacy Technologies, Inc.
- Willow Technologies
- SST International
- Special Hermetic Products, Inc.
- Sinclair Manufacturing Company
- Mackin Technologies
Check out more related studies published by Grand View Research:
- U.S. Rigid Thermoform Plastic Packaging Market – The U.S. rigid thermoform plastic packaging market size is projected to reach USD 8.99 billion by 2025, expanding at a CAGR of 2.7%, according to a new report by Grand View Research, Inc. The growing scope of the products in food & beverages, pharmaceutical, and personal care applications is expected to be the major factor driving the market growth over the forecast period.
- Tobacco Packaging Market – The global tobacco packaging market size is anticipated to reach USD 21.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.3% over the forecast period. Growing consumption of tobacco and cigarettes among the young consumers is one of the major factors for the growth of the market. Another factor driving the market is increasing number of female smokers. Increase in stress and workload is also one of the factors boosting the market growth.
- Paint Packaging Market – The global paint packaging market size is expected to be valued at USD 28.4 billion by 2025, advancing at a CAGR of 4.3% over the forecast period, according to a new report by Grand View Research, Inc. Significant increase in government spending in various countries on construction activities has triggered and necessitated the use of paint packaging products globally.
Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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