The hermetic packaging market in North America is expected to grow from US$ 1.16 Bn in 2018 to US$ 2.02 Bn by the year 2027 with a CAGR of 6.4% from the year 2019 to 2027.
The increasing commercial and military aircraft production and rising spending on defense/military equipment are anticipated to drive the demand of hermetically protected electronic components in the aerospace and defense industry, which in turn is driving the growth of hermetic packaging market. Further, the robust demand for hermetically packaged electronic components from automotive, medical and telecommunications industry is propelling the hermetic packaging market growth. In addition, the increasing demand for consumer electronic devices worldwide is anticipated to drive the demand for hermetic packaging solutions during the forecast period of 2019 to 2027. Consumer electronics are subjected to extensive use by consumers. Environmental conditions such as moisture, impact stress, and heat could damage the sensitive electronic components used in these devices. For instance, quartz crystals used in various consumer electronics products are susceptible to damage due to extreme environmental conditions and hence in order to safeguard such components, manufacturers are adopting hermetic packaging and sealing solutions. Hermetic packaging and sealing helps in increasing the reliability and service life of electronic components.
The hermetic packaging market is segmented on the basis of product into passivation glass, transponder glass, reed glass, glass-to-metal sealing (GTMS), and ceramic-to-metal sealing (CerTMS). Various companies manufacture hermetic housings and other components for the long-term, reliable protection of numerous sensitive electronics by utilizing core technologies such as, glass-to-metal & ceramic-to-metal sealing, thermal sensing components and a range of cutting-edge specialty glass competencies. The glass-to-metal sealing product is the leading segments with the highest market share in 2018. Further, ceramic-to-metal sealing is anticipated to witness immense growth in the hermetic packaging market during the forecast period.
The US dominated the hermetic packaging market in 2018 and is expected to dominate the market with the highest share in the North America region through the forecast period. The country currently accounts for nearly 40% of North America aircraft production, around 14,254 military and commercial aircraft, which is the highest as compared to other countries across the globe. Furthermore, Aerospace and defense is the leading net exporting industry in the nation, which generated a net trade surplus of US$ 86 Bn in 2017. Some of the world’s largest manufacturers of aircrafts namely Boeing and Airbus, have their manufacturing bases established in the US. The presence of aircraft manufacturing plants further boosts the prospects of direct sales of hermetically packaged products to the aircraft OEMs. The figure given below highlights the revenue share of the Mexico in the hermetic packaging market in the forecast period:
Exhibit: Mexico Hermetic Packaging Market Revenue and Forecasts to 2027 (US$ Mn)
NORTH AMERICA HERMETIC PACKAGING MARKET SEGMENTATION
Hermetic Packaging Market - By Product
Hermetic Packaging Market - By Application
Hermetic Packaging Market - By Industry Vertical
Hermetic Packaging Market - By Country
Hermetic Packaging Market - Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 1.16 Billion |
| Market Size by 2027 | US$ 2.02 Billion |
| CAGR (2019 - 2027) | 6.4% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product
|
|
Regions and Countries Covered
|
|
| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
|
The North America Hermetic Packaging Market is valued at US$ 1.16 Billion in 2018, it is projected to reach US$ 2.02 Billion by 2027.
As per our report North America Hermetic Packaging Market, the market size is valued at US$ 1.16 Billion in 2018, projecting it to reach US$ 2.02 Billion by 2027. This translates to a CAGR of approximately 6.4% during the forecast period.
The North America Hermetic Packaging Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Hermetic Packaging Market report:
The North America Hermetic Packaging Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Hermetic Packaging Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Hermetic Packaging Market value chain can benefit from the information contained in a comprehensive market report.
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