LTCC & HTCC Market Is Expected to Grasp the Value of USD 3.67 Billion with Growing CAGR of 2.2%by 2027

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According to a new report by Reports and Data, the estimated size of the Global LTCC & HTCC Market is expected to reach USD 3.67 billion by 2027, exhibiting a compound annual growth rate (CAGR) of 2.2% from 2019, when it was USD 3.06 billion. The market's growth is primarily driven by the increasing demand for LTCC and HTCC in various applications such as data communication, automotive, microwave packaging, aerospace & defense, medical, power electronics, and consumer electronics.

The growth of the LTCC & HTCC market can be attributed to the introduction of innovative solutions and material systems that leverage thick film technologies and multilayer ceramic to meet the rising demand for electronics functioning in extreme temperatures.

HTCC utilizes cheaper materials and has a higher firing temperature, enabling the use of refractory metals like tungsten and molybdenum. On the other hand, LTCC is designed for lower firing temperatures, allowing the utilization of noble metals such as silver, gold, copper, palladium, and others.

These multilayer substrates find applications in various components, including electronic control units, sensors, and LED packages, with significant usage in the automotive sector. Ongoing research for self-driving vehicles is expected to further drive the market share of LTCC and HTCC in the forecast period.

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Key findings from the report include:

  • The HTCC segment is projected to witness significant growth through 2027, driven by its extensive applications in industries such as aerospace, military equipment, medical devices, and high-temperature solutions.
  • The LTCC segment accounted for 73% of the Global LTCC and HTCC Market revenue share in 2019 and is expected to experience notable growth, particularly in antenna-in-package devices for multiple concurrent connections and ultra-low latency.
  • Ceramic material is poised to contribute significantly to the market growth due to its prominence in the telecommunication industry, with innovation in 5G mobile communication technology further boosting its growth.
  • The automotive segment holds the largest market share and is expected to register a CAGR of 2.5% over the analysis period, driven by the increasing adoption of hybrid technology and the need for LTCC incorporation in system design and testing in harsh conditions.
  • Telecommunications is another leading end-use sector, expected to account for 34.6% of the market share by 2027, primarily due to extensive LTCC incorporation.
  • North America is set to witness a growth rate of 2.7% over the forecast period, driven by investments in wireless telecommunication, modern military equipment, and high consumer preference for premium electronics.
  • Europe is forecasted to account for 20.4% of the global market share by 2027.
  • Key players in the global LTCC and HTCC market include KYOCERA Corporation, Nikko Company, KOA Corporation, Micro System Technologies, Ltd., DowDuPont Inc., The NGK Spark Plug Co., Maruwa Co. Ltd., Murata Manufacturing Co., Ltd., Yokowa Co. Ltd., and Hitachi Metals Ltd., among others.
  • In September 2018, Unicharm Corporation, a hygiene products manufacturing company, acquired Cayman Limited, a leading manufacturer of LTCC & HTCC and other absorbent products in the Asia Pacific region.

LTCC & HTCC Market: Drive factors

Factors driving the LTCC & HTCC market include:

1.      Growing Demand: The market is experiencing an increasing demand for LTCC and HTCC in various industries such as data communication, automotive, aerospace & defense, medical, power electronics, and consumer electronics. These materials offer advantages in terms of three-dimensional structure, integration in electrical circuits, optical-based sensory solutions, and fluidic or mechanical solutions.

2.      Advancements in Material Systems: The introduction of innovative solutions and material systems, combined with the benefits of thick film technologies and multilayer ceramics, is driving market growth. These advancements aim to meet the rising demand for electronics functioning in extreme temperatures.

3.      Automotive Sector: LTCC and HTCC products find extensive usage in the automotive industry for components like electronic control units, sensors, and LED packages. The ongoing research for self-driving vehicles further contributes to the market growth, as LTCC and HTCC are essential for system design, specification, testing, and functional demonstrations in harsh conditions.

4.      Telecommunications Industry: The telecommunications sector is another significant end-use segment driving the market. The incorporation of LTCC, especially in the context of 5G mobile communication technology, boosts the demand for LTCC and HTCC materials.

5.      Regional Investments: Increasing investment in wireless telecommunication, modern military equipment, and high consumer preference for premium electronics in regions like North America and Europe fuels the market growth.

6.      Advantages of HTCC and LTCC: HTCC materials are cheaper and can withstand higher firing temperatures, enabling the use of refractory metals. LTCC materials, designed for lower firing temperatures, allow the utilization of noble metals. These advantages make both HTCC and LTCC suitable for different applications, contributing to market growth.

These driving factors, along with the constant research and development efforts by key players in the industry, are expected to propel the LTCC & HTCC market forward in the coming years.

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