Co-fired ceramic devices are monolithic microelectronic devices in which the ceramic support structure is fired in a kiln alongside any conductive, resistive, and dielectric materials. Capacitors, resistors, inductors, transformers, and hybrid circuits are a few examples of commonplace electronics. Co-firing applications can be categorized into low-temperature (LTCC) and high-temperature (HTCC). Less than 900°C is the sintering temperature in LTCC, which enables the co-firing of highly conductive materials (silver, copper, and gold). For HTCC, the sintering temperature is higher, at about 1,600°C. Numerous layers of zirconia or alumina that have been metalized with platinum, tungsten, and molybdenum make up most HTCC components. Using LTCC, passive components such as resistors, capacitors, and inductors can be embedded into the ceramic package, resulting in a smaller final module.
LTCC technology is widely used in Bluetooth modules, mobile phone front ends, and WLAN, which operate in microwave and millimeter wave frequency bands. LTCC is preferred in wireless communication due to its benefits, which include a high dielectric constant, low dielectric loss, high thermal conductivity, and a low thermal expansion coefficient. In September 2021, Fengate Asset Management acquired 42 excellent wireless communications towers in seven states throughout the Southeast and Midwest of the United States from Municipal Communications II of Atlanta. This acquisition was made possible by the multi-year partnership between Fengate Asset Management and TowerCom LLC, established in September 2020. Initiatives in wireless technology show how it is developing, which is expected to support the market's growth over the forecast period.
Many technology companies have invested in research, new materials, testing capabilities, simulation, and manufacturing processes to develop LTCC filters and products that can be used in 5G communication. Numerous instant connections and high-speed, low-latency, large-capacity communication are made possible by the 5G communication technology. Several LTCC substrates are used in devices and components that process signals (such as filters and circuit boards). Higher frequencies and more incredible loss tangents for these devices and components may cause higher signal attenuation. As a result, reducing signal loss and attenuation is essential for achieving effective high-frequency communication. This is possible thanks to LTCC substrates created from low-loss tangent-based components.
Asia-Pacific is the most significant shareholder in the global LTCC and HTCC market and is expected to grow at a CAGR of 4.1% during the forecast period. Asia-Pacific held the most significant global LTCC and HTCC market in 2021 at 42.0% due to India, China, South Korea, and Japan's rapidly growing automotive, consumer, and industrial electronics industries. Due to ongoing incentive programs for EVs offered by governments of various nations, manufacturers of automotive electronics are anticipated to relocate to the area. It is anticipated that this will contribute to the expansion of the LTCC and HTCC markets in the Asia-Pacific during the forecast period.
North America is expected to grow at a CAGR of 3.9%, generating USD 1,213.07 million during the forecast period. The market is growing as a result of both the soaring demand for LTCC printed circuit boards (PCB) and the booming wireless communication industry. Several applications, including industrial and automotive controls, medical diagnostic systems, avionics systems, aerospace systems, life support systems, and military systems, use LTCC PCBs in North America. The increased demand for power electronic products in North America presents new growth opportunities for market participants in this region. Due to their small size and lightweight nature, power electronic products are becoming more common in various end-use industries, including telecommunication and energy.
Europe is expected to grow significantly over the forecast period. Due to the increased use of EVs in the region, there is a growing demand for automotive electronics, which is driving the growth of the LTCC and HTCC markets there. Foreign companies' investment in Europe has started due to the continent's expanding EV market. The creation and execution of value-added activities are driving the growth of the European automotive electronics market (R&D and engineering). Due to the surge in demand from the automotive and consumer electronics sectors, it is anticipated that the LTCC and HTCC markets in Europe will expand during the forecast period.
The global LTCC and HTCC market’s major key players are Hitachi Metals Ltd., Koa Corporation, Kyocera Corporation, Maruwa Co., Ltd, Micro Systems Technologies, Murata Manufacturing Co., Ltd, NGK Spark Plug Co. Ltd, Nikko Company, TDK Corporation, and Yokowo Co., Ltd.