Over the forecast period of 2022 to 2030, the global hermetic packaging market is predicted to expand at a steady 4.3% CAGR, reaching a market valuation of US$ 4.7 Bn by the end of 2030, up from US$ 3.3 Bn in 2022.
Hermetic packaging market players are looking to consolidate their position by offering high-quality, yet cost-effective solutions to end-users, according to a new study by Future Market Insights. The market study tracks global hermetic packaging sales globally for the period 2022-2030
The hermetic packaging market is among the industries which are affected by the pandemic. However, this slowdown is expected to be moderate as demand for electronic goods such as smartphones and laptops is increasing in the wake of issuance of work from home guidelines.
Also, demand in the defense sector is likely to sustain demand for hermetic packaging, as national security concerns have acquired an even greater priority due to concerns of foreign aggression amongst the world’s major military powers such as the United States, China and India.
Hermetic packaging has acquired immense importance across the packaging industry. Over the years, hermetic packaging has been adopted across several important industries, most notably in the electronics sector. The ability to offer enhanced protection from hostile environmental conditions makes them a highly preferred approach by leading electronics manufacturers.
Some applications of hermetic sealing include thermostats, semiconductor electronics, MEMS, switches and optical devices. These electronic parts may be hermetically sealed to prevent damage from water vapor or other forms of moisture and other highly volatile elements. Additionally, surveillance equipment for defense and military also make exhaustive usage of hermetic seals.
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Key Takeaways from FMI’s Hermetic Packaging Report
“Deepening penetration of smart technologies is expected to heighten demand for smart devices, prompting vendors to enhance research capacities to launch robust hermetic packaging solutions,” infers the FMI analyst
Leading Hermetic Packaging Market Players
The global hermetic packaging market comprises of several prominent players who are vying to acquire a significant competitive edge by deploying multiple expansion strategies, including research capacity expansion, foraying into untapped markets, product launches and collaborations.
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Leading Hermetic Packaging Market Players
Some of the key players in the hermetic packaging market include,
AMETEK Inc. is a leading player in the hermetic packaging market. In 2017, the company expanded its electronic components and packaging business division by incorporating its Aegis, Glasseal, SCP, Hermetic Seal, Coining and Sealtron brands under a single umbrella.
With respect to solution offerings, Kyocera Corporation provides glass hermetic feedthroughs and connectors in the form of D-subminiature connectors and RF coaxial feedthroughs. These fittings are used for a variety of applications, ranging from scientific and technological equipment to semiconductor manufacturing equipment.
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Hermetic Packaging Market Key Segments
By Hermetic Seal Type
By Configuration
By Application
About FMI Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
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Aug 10, 2022
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