San Francisco, California, November 01, 2017: A recent market research report by TMR Research states that the global hermetic packaging market will exhibit growth at a promising pace in the next few years. Expanding at a positive CAGR over the period between 2017 and 2025, the market will transform into a multi-billion-dollar industry in the near future. The report is titled “Hermetic Packaging Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.”
The market will be chiefly drive by the increased need to guard a variety of sensitive electronics from elements such as moisture, humidity, oxygen, and other contaminants in areas such as military, defense, and space exploration. Moreover, the increased usage of hermetic packaging in fields such as automotive and aeronautics is also expected to present promising growth opportunities ahead of the global market for hermetic packaging in the near future.
The robust pace of development of the global hermetic packaging market in the next few years is also expected to be supported by the increased use of hermetically packaged transistors in telecommunications circuits and a variety of home appliances. Driven by the vast rise in applications across other diverse segments as well, the market for hermetic packaging will continue to tread along a healthy growth path in the near future.
Of the key end-use segments of hermetic packaging, the market is expected to gain the most promising growth opportunities in the defense and military sector over the report’s forecast period. These segments are projected to be the leading consumers of hermetic packaging products owing to the high budgets allocated for defense and military purposes in countries such as Canada, Mexico, the U.S., several European countries, India, China, and other parts of the world. Moreover, the thriving defense industry in Asia Pacific will also provide vast growth opportunities to the global hermetic packaging market.
From a regional standpoint, the global hermetic packaging market has been analyzed in the report for regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Of these, the market in Asia Pacific is presently the most promising regional market owing to the high demand for reliable and continuous energy and the encouraging pace of GDP across emerging economies such as China and India. These factors are expected to lead to promising growth opportunities for manufacturers of hermetic packaged electronic components in the near future, driving the global hermetic packaging market.
Moreover, countries such as India, China, and Japan are increasing their investments in space research and expeditions. The significant rise in space-related activities such as satellite launches and space exploration projects in these countries will lead to a massive rise in demand for hermetic packaging procedures and activities in the near future, driving the global hermetic packaging market. Moreover, the markets in Europe and North America are also expected to continue offer promising growth opportunities for hermetic packaging in the near future.
Some of the leading companies operating in the global hermetic packaging market are AMETEK, Inc., Micross Components, Inc., SCHOTT AG, Teledyne Microelectronics, Legacy Technologies Inc., Materion Corporation, Willow Technologies, Amkor Technology, KYOCERA Corporation, and Texas Instruments Incorporated. The report provides an in-depth assessment of the vendor landscape of the market, recent developments observed in it, and the business profiles of these companies.
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