Co-Fired Ceramic Market Report, Industry Overview, Growth Rate and Forecast 2027
Market Synopsis
The Global Co-Fired Ceramic Market was valued at USD
886 million in 2018 and is forecast to rise at a CAGR of 4.45% to reach USD 1.2
Billion by 2025.
This growth can be attributed to increased application
of co-fired ceramics in wireless devices, rising integration of electronics in
the automotive systems, and a focus on automation of manufacturing processes
across industries.
The increased demand for VLSI and ULSI circuitry is
expected to propel the growth of this market during the review period.
Due to the wide application scope of ICs, which are
manufactured using co-fired ceramics, in almost all industries, the market is
highly resistant to saturation.
Market USP
The high application of co-fired ceramics in the
fast-expanding wireless devices market is expected to drive market growth.
SEGMENTATION
The high applicability of co-fired
ceramics market for a very robust market segmentation with
high dividends expected in each segment.
By Process Type
- Low-Temperature
Co-Fired Ceramic (LTCC): Currently the larger segment, it is also expected
to register the higher CAGR during the forecast period. The unparalleled
growth of the segment is due to the high application potential of LTCCs in
the electronics, telecommunications, automotive, and electronics
industries. LTCCs offer advantages such as extreme resistance to thermal
and mechanical stress, good thermal conductivity, and low production costs
for medium to large quantities.
- High-Temperature
Co-Fired Ceramic (HTCC): Used in extreme high-stress applications, HTCCs
offer utility in transmission and reception devices in the
telecommunications and aerospace & defense industries, among others.
The advantages of HTCCs include ease of integration in metal housing due
to matching thermal coefficients, very high thermal conductivity, and
excellent mechanical stability. HTCCs find widespread use in defense &
aerospace applications.
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By Material
- Glass-Ceramic:
The larger market segment as glass-ceramics find use in the manufacture of
LTCCs. This segment is also projected to exhibit the higher CAGR due to
the utilization of glass-ceramic LTCCs in emerging markets such as
wireless devices.
- Ceramic:
This segment is seeing steady growth due to the use of ceramics in the
manufacture of HTCCs and certain LTCCs. The use of the material is also
more cost-effective.
By Application
- Telecommunications:
According to the Telecommunications Industry Association, the industry
generated USD 1.6 trillion in revenue in 2019. The telecommunications
segment is projected to be the largest due to the use of LTCCs in
virtually every aspect of the industry. Moreover, as bulk co-fired
ceramics production tends to be more cost-effective, the large-scale use
of co-fired ceramic ICs in telecommunications applications is expected to
propel the growth of the segment.
- Defense
& Aerospace: The dependence on electronics for critical applications
in the aerospace & defense industry has led to the widespread use of
ICs. The industry requires specialized ICs, necessitating the use of
co-fired ceramics.
- Automotive:
The fastest-growing segment due to the increased application of
electronics in various automotive systems. The rapid growth of the
automotive industry is also projected to drive bulk CFC production.
- Medical:
Modern diagnostic tools and computer-assisted surgery rely on chipsets
that use CFCs. This segment is growing due to the growth of the global
medical market and technological advances in the field.
- Consumer
Electronics: Representing a significant market share, consumer electronics
widely use CFCs in the form of ICs and wireless transmission equipment.
The segment is expected to register a stable growth rate.
- Others:
Virtually all automated manufacturing units, the logistics industry, and
tracking technologies extensively use CFCs.
By Region
- North
America: Technologically very proficient but lacks the low-cost
manufacturing capabilities of other regions.
- Europe:
- Asia-Pacific:
The largest and fastest-growing market.
- Middle East
& Africa
- Latin
America
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