Low Temperature Co Fired Ceramics Market to see Huge Growth by 2025
Posted: Oct 16, 2020
Impact of COVID-19 on Global Low Temperature Co-Fired Ceramics Market
The low temperature co-fired ceramics market has been impacted to a certain extent due to the COVID-19. As the technology finds its major end-use applications in industries such as consumer electronics, followed by military and aerospace sectors, the reduced consumption of personal/consumer electronics at the present hour due to the contracted purchasing power has put the demand for the LTCC on a slower pace. Another major reason for the reduction in the consumption of electronics can be attributed to the global lockdown, which has significantly disrupted the logistics and free flow trade between the nations and states. Also, there has been an unevenness in the availability of the raw materials needed for the manufacture of LTCC tapes.
As per the forecasts for 2020-2025 period, there is an expected sluggishness in the market during the pandemic period of 2020-2022, which is expected to regain to normalcy post this period (2023-2025). On a regional level, the North American LTCC market has been observed to be the hardest hit from the pandemic, owing to the heavy job losses in the U.S., leading to the reduced consumption of personal electronics, such as smartphones and laptops.
Positive Outcomes of COVID-19 on Low Temperature Co-Fired Ceramics
Despite the business disruptions of LTCC, the technology has been found to be the source of UV light in some biomolecular operations. In the present times, the UV rays are found to be very effective in killing the COVID-19 virus and are thus used for disinfecting public places, such as transports and public gatherings. The LTCC market is therefore, expected to witness a great boost despite being sluggish on its usual end-use market sectors of consumer, defense, and aviation electronics.
The introduction and proliferation of LTCC in several end-use industries, such as consumer electronics, automobile electronics, aerospace and military electronics and other applications which include telecommunications and MEMS, has been transforming the manufacturing landscape from past decade. The benefits offered by the LTCC such as smooth functioning of the electronics even at miniature level proves to be very beneficial for the end-use industries both in terms of product quality and economics.
Currently, the world is witnessing growing demand for low temperature co-fired ceramics, which is mainly due to the rising demand from the automotive sensors operating at harsh conditions. Also, there have been technological advancements in the electronics and computational industry. The miniaturization of electronics, followed by the demand for high computational speed, has produced harsh operating conditions for the electronic components. These conditions have consequently given rise to concerns such as heating, leading to the compromise in the performance of the gadgets. Therefore, researchers/industry professionals have had to reconsider the technological upgradations in tandem with good performance and paved way for the development of multilayer circuits or LTCC tapes. The primary factors leading to the demand for this technological innovation is increasing use of electronics in the automotive sensors, military and defense, aviation, and micro electro-mechanical sensors (MEMS), among others.
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The rise of autonomous vehicles (self-driving cars) has been demanding the incorporation of various sensors and antennas in them. The incorporation of LTCC provides a high degree of integration and enables a very compact sensor module. In cars, the LTCC is used for high component density circuits, which demand high reliability in harsh environments. For instance, LTCC is used in many control circuits for traction and stability, hydraulic and antilock brakes, electrical assisted steering systems, engines, and transmissions. Thus, the increasing usage of electronics coupled with the rising global automotive market is bound to propel the demand for the LTCC market. It also opens opportunities for the LTCC manufacturers as their products are expected to be adopted by an industry, which has great market potentials in terms of its growth.
Bis Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.