Market Overview The global LTCC (Low Temperature Co-Fired Ceramics) HTCC (High Temperature Co-Fired Ceramics) Market is expected to experience a Compound Annual Growth Rate (CAGR) of 2.2%, reaching a value of USD 3.67 billion in 2027 from USD 3.06 billion in 2019. The market is being driven by a growing demand for electronic systems with high performance in harsh temperature conditions and a general increase in electronics applications across various industries. Manufacturers are favoring Co-Fired Ceramic materials for their desirable thermal conductivity, high temperature brazing capability, excellent electrical properties, and high mechanical strength in HTCC applications. Likewise, these materials offer space-saving solutions for LTCC applications through embedded passive components and excellent HF (high frequency) properties, as well as high electrical conductivity of metal patterns.
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Factors Contributing to Market Growth The market for LTCC HTCC is witnessing growth due to the rising adoption and usage of radio-frequency and wireless applications, hybrid integrated circuits, multilayered printed circuit boards (PCB), and other microsystems. The industry's emphasis on customizing solutions based on various manufacturing processes, along with the availability of simulation tools for mechanical, electrical, optical, and thermal aspects, is driving manufacturers' efficiency in producing LTCC HTCC products. These ceramics are becoming increasingly valuable for a wide range of applications.
Innovative solutions and material systems provided by renowned market players combine the advantages of multi-layer ceramic thick film technologies, meeting the demand for electronics operating in extreme temperatures and harsh environments. LTCC is favored for high-frequency applications due to its low loss properties, enabling more efficient circuits, and it finds significant usage in imaging systems, military radar, advanced automotive sensing, satellite communication, and telecommunications, among others. On the other hand, HTCC's characteristics like high temperature resistance, energy efficiency, long lifespan, uniform temperature, fast thermal compensation, and corrosion resistance make it a preferred choice in aerospace, medical devices, military equipment, and other high-temperature solutions.
Types of Processes and Products The market distinguishes between two types of processes: Low Temperature Co-Fired Multilayer Ceramics (LTCC), which sinter at temperatures ranging from 1,500 to 1,600 degrees Fahrenheit, and High Temperature Co-Fired Multilayer Ceramics (HTCC), which operate at even higher temperatures between 2,900 to 3,300 degrees Fahrenheit. LTCC technology is especially advantageous for microwave applications, while HTCC offers benefits such as high structural strength, good chemical stability, high thermal conductivity, and high wiring density.
The materials used in HTCC are generally less expensive compared to LTCC. HTCC allows for the use of refractory metals like Molybdenum or Tungsten due to its higher firing temperature, whereas LTCC allows noble metals such as Gold, Silver, Palladium, Copper, and others due to its lower firing temperature. The cost of LTCC can be up to four times higher than that of HTCC due to the expensive materials involved.
Market Segments and Regional Outlook The automotive sub-segment holds the largest market share, growing at a CAGR of 2.5% throughout the forecast period. The demand for LTCC incorporation is increasing in automotive applications, particularly in hybrid technology, to improve system integrity and reliability in harsh environments.
In terms of regional distribution, the Asia Pacific held the highest market share in 2019 and is expected to register the highest growth during the forecast period due to the rapid growth in microelectronics manufacturing industries. China, South Korea, and Taiwan are at the forefront of the industry, boasting some of the largest semiconductor and electronics manufacturing units.
North America is projected to grow at a CAGR of 2.7% from 2020 to 2027, driven by increased investments in modern military equipment, wireless telecommunication, and consumer preference for premium electronic products. Europe, while having a significant consumer presence, is also expected to retain a market share of 20.4% by 2027, with Germany and the UK being the most prominent countries in the region.
Major Players and Strategies Key players in the global LTCC HTCC market include KYOCERA Corporation, KOA Corporation, Nikko Company, Micro System Technologies, The NGK Spark Plug Co., Ltd., DowDuPont Inc., Maruwa Co. Ltd., Yokowa Co. Ltd., Murata Manufacturing Co., Ltd., Hitachi Metals Ltd., among others. These companies have been adopting various strategies in the market, such as acquisitions and mergers, to strengthen their positions and explore new technologies.
Expert Insights and Impact of COVID-19 Industry experts believe that the growing popularity of wireless telecommunication devices and the upcoming 5G mobile communication technology will significantly benefit the LTCC HTCC market. However, they stress that reducing the high cost of LTCC deployment through innovative research and development can further influence market trends. The COVID-19 pandemic has disrupted strategies and forecasts for industry growth, and major players need to review and adjust their approaches to support the post-pandemic scenario and maintain strong relationships with their business partners.
Market Segmentation The report provides revenue growth forecasts for the global LTCC HTCC market at a global, regional, and country level. The segmentation is based on process type, material type, end-use verticals, and region:
Process Type Outlook:
- LTCC
- HTCC
Material Type Outlook:
- Glass-ceramic
- Ceramic
End-Use Verticals Outlook:
- Automotive
- Telecommunications
- Aerospace Defense
- Consumer Electronics
- Others
Regional Outlook:
- North America (U.S, Canada)
- Europe (Germany, U.K, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, Rest of APAC)
- MEA (Saudi Arabia, UAE, Rest of MEA)
- Latin America (Brazil, Rest of LATAM)
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