Hermetic Packaging Market Statistics, Top Major Players 2032
The global hermetic packaging market size was USD 3.95 billion in 2023. The market is set to rise from USD 4.21 billion in 2024 to USD 7.31 billion by 2032 at a CAGR of 7.14% during 2024-2032.
Hermetic packaging is highly preferred in several medical and electronic devices for safe and reliable packaging. There is rising adoption of electronic devices due to a rise in government support for boosting digitalization and growing internet usage among customers. Rapid innovations in sealing technology are expected to fuel market expansion in the coming years.
The COVID-19 pandemic had an adverse effect on the market owing to disruptions in transport services.
Fortune Business Insights™ shares this information in its report titled “Hermetic Packaging Market, 2024-2032”.
Source:
https://www.fortunebusinessinsights.com/hermetic-packaging-market-109188
Segments
Increased Need for Complex Electronic Circuits Fuels Ceramic Metal Sealing Segment Growth
On the basis of type, the market is segregated into co-fired ceramic, metal can, epoxy seal, ceramic metal sealing, and glass metal sealing. The ceramic metal sealing segment leads the market. Increased need for complex electronic circuits, including microelectromechanical systems’ multilayer ceramic metal sealing, is fostering segment expansion.
Rising Adoption of Suitable Packaging Strategies for Sensor Technologies Fuels Segment Expansion
In terms of application, the market is categorized into sensors, photodiodes, MEMS, transistors, laser chips, memory, and others. The sensors segment secures the largest hermetic packaging market share owing to the rising adoption of suitable packaging strategies for sensor technologies.
Rise in Government and Private Investments in Space Exploration Fosters Aerospace & Defense Segment Expansion
By end-use industry, the market is classified into aerospace & defense, healthcare, automotive, electrical & electronics, telecom, and others. The aerospace & defense segment commands the global market with the rise in government and private investments in space exploration.
From the regional ground, the market is classified into Europe, Latin America, North America, Asia Pacific, and the Middle East & Africa.
Report Coverage
The report has studied the market in depth and underlined several crucial aspects and leading market participants. It provides important insights into the recent market trends and key industry developments. In addition to the factors mentioned above, the report covers many other factors that have helped the market grow.
Drivers and Restraints
Increased Demand for Consumer Electronics to Bolster Market Expansion
Increased usage of consumer electronics is boosting the demand for hermetic packaging solutions. Growing purchasing power and rapid economic growth are fueling the sales of smartphones, which will eventually accelerate the demand for hermetic packaging. Rapid innovations in wireless mobile telecommunication technology, such as 4G, IoT, and 5G, are expected to fuel the adoption of other smart devices. The emergence of advanced household products and the growing usage of appliances equipped with voice assistance and Wi-Fi connectivity are the major factors contributing to market growth.
On the other hand, the hermetic packaging market growth is impeded by the emergence of not quite or almost hermetic packaging.
