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(CityRegions.Com, November 20, 2021 ) The LTCC market and HTCC market size is estimated to be USD 916 million in 2019 and is projected to reach USD 1.1 billion by 2024, at a CAGR of 4.5% between 2019 and 2024. Owing to their superior performance properties such as chemical inactivity, hermicity, and high thermal stability over traditional circuit boards, namely printed circuit boards, co-fired ceramics are gaining increasing demand from various industries such as aerospace & defense, automotive, telecommunications, medical, and industrial.
The Asia Pacific is one of the leading LTCC market and HTCC market. The growing demand from end-use industries such as aerospace & defense, automotive, and telecommunications is driving the LTCC market and HTCC market in the region. 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.
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The major co-fired ceramic manufacturers are KYOCERA Corporation (Japan), DowDuPont Inc. (US), Murata Manufacturing Co., Ltd. (Japan), KOA Corporation (Japan), Hitachi Metals, Ltd. (Japan), Yokowo Co., Ltd. (Japan), NGK SPARK PLUG CO., LTD. (Japan), MARUWA Co., Ltd. (Japan), Micro Systems Technologies (Switzerland), TDK Corporation (Japan), and NIKKO COMPANY (Japan). These players have adopted various growth strategies, such as new product development, partnership, and acquisition, to expand their presence in the market further. New product development was the most commonly adopted strategy by the major players from 2015 to 2018, which helped them to increase their product offerings and broaden their customer base.
KYOCERA Corporation (Japan) is a well-established company in the global LTCC market and HTCC market. The company offers a high-quality, co-fired ceramic product. It is continuously engaged in providing high-grade, co-fired ceramic products. As a part of its growth strategy, it is focused highly on new product development and partnership. For instance, in 2018, the company developed an ultra-small ceramic package using Low-Temperature Co-Fired Ceramic for the high-frequency antenna.
Murata Manufacturing Co., Ltd. (Japan) is another major manufacturer of co-fired ceramics. It is one of the global leaders in the design, manufacture, and supply of advanced electronic material, leading-edge electronic components, and multi-functional, high-density modules. As a part of its growth strategy, the company strives to increase its profitability and provide quality products to long-term strategic customers. The company is an expert in creating innovative products and solutions for the electronics industry. It offers low-temperature co-fired ceramic multilayer substrates for the LTCC market and HTCC market. The product uses silver or copper for metallization path. It is also recognized as glass ceramics because of the mixture of glass with primary raw material, alumina. It caters to demand from automotive end-use industry. The product has applications in the anti-lock brake system, electronic stability control, electric power steering, and transmission control units.
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Mr. Aashish Mehra