Asia Pacific is the largest and the fastest-growing LTCC market and HTCC market. The automotive and telecommunications are the major consumers of co-fired ceramic in the region. Presence of a large number of co-fired ceramic manufacturers makes the region the most important market for co-fired ceramic. The growth is also attributed to the high demand for co-fired ceramic in the automotive, telecommunications, industrial, consumer electronics, and aerospace & defense end-use industries. The continuous rise in the manufacturing of technologically advanced electronic products has resulted in high demand for co-fired ceramic in the region. This increasing demand for technologically advanced electronic products for use in various applications has led to innovations and developments in the electronics industry of Asia Pacific region.
The LTCC market and HTCC market size is estimated to be USD 916 million in 2019 and is projected to reach USD 1.1 billion by 2024, at a CAGR of 4.5% between 2019 and 2024. Owing to their superior performance properties such as chemical inactivity, hermicity, and high thermal stability over traditional circuit boards, namely printed circuit boards, co-fired ceramics are gaining increasing demand from various industries such as aerospace & defense, automotive, telecommunications, medical, and industrial.
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Co-fired ceramic is available in two process types, namely, LTCC (Low-Temperature Co-Fired Ceramic), and HTCC (High-Temperature Co-Fired Ceramic). LTCC process type is expected to register the highest CAGR during the forecast period as it is used in various applications such as high radio frequency, wireless devices, antennas, and radar. The LTCC process allows metallization with conductive materials such as silver, gold, and copper at a lower temperature compared to the HTCC process. The LTCC process offers properties such as low-loss of electric signals, high component density, increased functionality, excellent stability, and reliability.
Co-fired ceramics are finding increasing application in the automotive segment. This growing use of co-fired ceramic in the automotive industry is mainly due to the demand for high performance and compact electronic components. The co-fired ceramic is used in the form of LTCC and HTCC in various applications in the automotive industry. The co-fired ceramic is used widely in engine control units, transmission control units, electronic power steering, engine management system, antilock brake systems, airbag control modules, LEDs (automotive lighting), entertainment & navigation systems, pressure control modules, pressure sensor, radar modules, and various sensor modules in vehicles.
Some of the key players in the LTCC market and HTCC market are KYOCERA Corporation (Japan), DowDuPont Inc. (US), Murata Manufacturing Co., Ltd. (Japan), KOA Corporation (Japan), Hitachi Metals, Ltd. (Japan), Yokowo Co., Ltd. (Japan), NGK SPARK PLUG CO., LTD. (Japan), MARUWA Co., Ltd. (Japan), Micro Systems Technologies (Switzerland), TDK Corporation (Japan), and NIKKO COMPANY (Japan). The key strategies adopted by the major players for enhancing their business revenue are new product developments, partnerships, and acquisition.