LTCC And HTCC Market Size Worth $3.9 Billion By 2028
LTCC And HTCC Industry Overview
The global LTCC And HTCC market size is expected to reach USD 3.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.5% from 2021 to 2028. The market growth is attributable to rising investments in wireless communication technology along with increasing penetration of automotive electronics in vehicles. In co-fired ceramic devices, the ceramic support structure and any resistive, conductive, and dielectric materials are fired in a kiln. Typical devices include capacitors, resistors, inductors, transformers, and hybrid circuits. Cofired ceramic devices are also used for multi-layer packaging in the electronics industry, such as in military electronics, Micro Electromechanical Systems (MEMS), microprocessors, and RF applications.
Co-firing can be divided into Low Temperature Co-fired Ceramics (LTCC) and High Temperature Co-Fired Ceramics (HTCC) applications. In LTCC, the sintering temperature is below 900°C. This permits the co-firing with highly conductive materials (silver, copper, and gold). For HTCC, the sintering temperature is higher, at around 1,600°C. HTCC components generally consist of multilayers of alumina or zirconia with platinum, tungsten, and moly manganese metallization. Based on application, telecommunication is expected to be the fastest-growing segment in the market owing to rising digitalization, expansion of 5G network, and booming e-commerce platform, which enables the use of wireless technologies and equipment within the telecommunication industry.
Growing trend of adopting online channels in daily life has fueled the demand for telecommunication products over the forecast period. Furthermore, growing investments in the aerospace and defense industry are proving to be fruitful for the growth of the market as LTCC substrates are extensively used in various aircraft and fighter jets. For instance, in January 2021, the Indian Air Force announced its plans to acquire 114 combat aircraft that would cost more than INR 1.3 lakh crore (~USD 173.1 million). Such investments are expected to increase the production of aircraft and in turn, augment the market growth.
Region-wise, Asia Pacific is anticipated to register the fastest growth rate over the forecast period. The region is a global manufacturing hub for electronics owing to the presence of several manufacturers of electronic devices and systems, including top players, as well as small- and medium-sized enterprises. The governments of different economies of the region focus on increasing foreign investments in their respective electronics industry, which in turn is expected to benefit market growth. The market is highly competitive in nature owing to the presence of numerous small and large players. Majority of the key players are mainly established in Japan. Key players are adopting strategies such as capacity expansions and investments in R&D activities to gain a higher share in the market.
LTCC And HTCC Market Segmentation
Grand View Research has segmented the global LTCC And HTCC market on the basis of product, application, and region:
Based on the Product Insights, the market is segmented into LTCC, and HTCC.
- The high share of LTCC can be attributed to its properties such as higher operating temperature, excellent thermal properties, lower expansion coefficient, high reliability, and integration density. Rising demand for high-speed internet in urban and semi-urban locations is increasing investments in wireless technologies and RF modules, which is anticipated to propel LTCC demand.
- HTCC is an older technology used in manufacturing ceramic PCBs. Its advantages include chemical stability, lower material costs, high heat dissipation coefficient, high mechanical strength, and high wiring density. HTCC components usually consist of multilayers of zirconia or alumina with tungsten, platinum, and moly manganese metallization.
Based on the Application Insights, the market is segmented into Automotive, Telecommunication, Aerospace & Defense, Consumer Electronics, and Others.
- The automotive segment held the largest revenue share of over 42.0% in 2020. LTCC and HTCC are used in automotive electronics for a safer and enhanced driving experience. The inclination of consumers toward the safety of vehicles, adoption of telematics, and government-defined safety norms are the prominent factors driving the demand for automotive electronics. Key applications of automotive electronics include Advanced Driver Assistance Systems (ADAS), safety, powertrain, and infotainment.
- Telecommunication is another key application segment. Radio, microwaves, and millimeter waves are used for wireless communication. The penetration of LTCC technology is rapidly increasing for applications in microwave and millimeter-wave frequency band in areas including Bluetooth module, front end module of mobile phones, and WLAN.
LTCC And HTCC Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Order a free sample PDF of the LTCC And HTCC Market Intelligence Study, published by Grand View Research.
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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