Automotive industry is expected to witness the significant growth in Co-fired ceramics Market

Co-fired ceramics are finding increasing application in the automotive segment. This growing use of co-fired ceramic in the automotive industry is mainly due to the demand for high performance and compact electronic components. The co-fired ceramic is used in the form of LTCC and HTCC in various applications in the automotive industry. The co-fired ceramic is used widely in engine control units, transmission control units, electronic power steering, engine management system, antilock brake systems, airbag control modules, LEDs (automotive lighting), entertainment & navigation systems, pressure control modules, pressure sensor, radar modules, and various sensor modules in vehicles.

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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. The market is growing due to the high demand from the automotive, telecommunications, aerospace & defense, and medical end-use industries. Co-fired ceramic has good mechanical properties, such as excellent physical, chemical inactivity, hermicity, and high thermal stability properties.

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. The thermal stability properties of co-fired ceramic help manufacturers in increasing the overall efficiency of automotive.

The Asia Pacific is one of the leading LTCC market and HTCC market. The region has a presence of major co-fired ceramic manufacturers who focus on the adoption of various business strategies to increase the production of co-fired ceramic and meet the growing demand from end users. For instance, KOA Corporation acquired VIA Electronic GmbH to extend its LTCC market and HTCC market in Japan, in June 2017.

Key Questions Addressed by the Report

1. Which process type is majorly used in co-fired ceramic?
2. Which material type is majorly used in co-fired ceramic?
3. Which largest and fastest-growing regional LTCC market and HTCC market?
4. What are the major strategies adopted by leading market players?

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LTCC Market and HTCC Market- Current Trends and Future Aspect Analysis 2019 – 2024

The use of co-fired ceramic is increasing due to its useful properties such as excellent physical, chemical inactivity, hermicity, and high thermal stability. The LTCC market and HTCC market size is estimated to be USD 916 million in 2019 and is expected to reach USD 1.1 billion by 2024, at a CAGR of 4.5% between 2019 and 2024. The increasing use of co-fired ceramic in the automotive, telecommunications, and aerospace & defense is bolstering the market growth, globally.

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Based on material used, the market for co-fired ceramic is segmented as glass-ceramic and ceramic. Glass-ceramic material type dominated the overall LTCC market and HTCC market in 2018, in terms of volume & value both. This is due to the high demand for glass-ceramic material used in LTCC process for automotive, telecommunications, aerospace & defense applications. In the automotive industry, it is primarily used to make advanced wireless technology such as Bluetooth, used in high radio frequencies. In the telecommunications sector, co-fired ceramics are used in mobiles, play stations, and high radio frequency data transfer.

The co-fired ceramic is divided into five end-use industries, such as automotive, telecommunications, aerospace & defense, medical, and others. The automotive end-use industry is expected to witness the highest growth in the coming years. The demand for excellent mechanical properties such as excellent physical, chemical inactivity, hermicity, and high thermal stability is expected to boost the market for co-fired ceramic in various end-use industries.

The Asia Pacific is one of the leading LTCC market and HTCC markets. The growing demand from the aerospace & defense, automotive, and telecommunications sectors is driving the market in the region. The Asia Pacific region has the presence of co-fired ceramic manufacturers and telecommunications component manufacturers. China accounted for a significant share of the global LTCC market and HTCC market and is expected to register substantial growth during the forecast period. The increasing wireless devices production and introduction of 5G across all electronic end-users are expected to drive the demand for co-fired ceramic in China.