Low-Temperature Co-Fired Ceramics Market Size, Share & Trends Analysis Report By Material (Ceramic, Glass, Silicon), By Type (Glass-Ceramic Composites, Glass Bonded Ceramics), By End-User (Automotive, Power, Aerospace, Industrial, Consumer Electronics) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global low-temperature co-fired ceramics market size was valued at USD 4.08 billion in 2021. It is expected to reach USD 7.86 billion by 2030, growing at a CAGR of 7.56% during the forecast period (2022–2030).

Ceramics co-fired at low temperatures with low resistance metal conductors are known as low temperature co-fired ceramics. These ceramics comprise a multi-layer glass-ceramic substrate that is co-fired at low temperatures. The typical components of a monolithic structure of low-temperature co-fired ceramics are screen-printed low-loss conductors, multiple dielectric layers, resistors and capacitors, and other electronic components.

The low-temperature co-fired ceramics technology is exceptionally well-suited for various applications, including high-volume automotive systems, high-frequency radio frequency (RF), microwave, wireless, and radar products. The low-temperature co-fired ceramics technology has undergone consistent development and brought about a sea change in the electro-ceramic industry by creating one-of-a-kind products and systems.

Manufacturers, producers, companies that process low-temperature co-fired ceramics devices, and end-users make up the ecosystem of the market for low-temperature co-fired ceramics. Ceramics that have been low-temperature co-fired are most frequently used in the electronic equipment utilized in various industries, including the aerospace, automobile, medical, and consumer electronics industries. Ceramics that have been low-temperature co-fired are most frequently used in the electronic equipment utilized in various industries, including the aerospace, automobile, medical, and consumer electronics industries. 

Market Dynamics

Market Driving Factors

Rapid Expansion of the Automobile Sector to Drive Market

As a result of rising demand and increased application of front-end receivers, duplexers, and front-end transmitters, there has been an increase in the demand for low-temperature co-fired ceramic technology. Integrating passive components like resistors, capacitors, resonators, and filters can be replaced with the help of a low-temperature co-fired ceramic device. The low-temperature co-fired ceramic technology is helpful in many applications, including high-volume automotive systems. Therefore, as a direct result of the growth and expansion of the automotive industry, the demand for low-temperature co-fired ceramic technology will unquestionably increase. A region's rapid industrialization and urbanization are the primary factors driving growth in the low-temperature co-fired ceramics market. Over the past few years, the amount of money invested in industries such as automobiles, aerospace, consumer electronics, and other industrial electronics has driven the demand for low-temperature co-fired ceramics.

Increased Industry Research and Development Investment to Aid Growth 

The demand for low-temperature co-fired ceramic technology has been fueled by rising research and development capabilities and technological advancements in cost-effective production and processing. This demand has been seen across a variety of end-user verticals. These kinds of factors will contribute to the acceleration of market growth.

Market Restraining Factors

High Costs of Raw Materials to Hinder Market Growth

The very high price swings seen in the market for raw materials will present a significant obstacle to the expansion of this market. The potential for market expansion will be further limited if there is insufficient product differentiation. These factors will impede the market's overall growth.

Key Market Opportunities

Increasing Demand for the Miniaturization of Electrical Components to Boost Market Opportunities

The market is also being presented with potentially lucrative expansion opportunities due to the growing demand for the miniaturization of electrical components. The need for low-temperature co-fired ceramics is anticipated to be driven by an increase in the emphasis placed on the miniaturization of electronic equipment. These miniaturized devices can be fabricated very economically using low-temperature co-fired ceramics as the primary material. As a result, the consumer electronics, automotive, and aerospace industries will likely see an increase in demand for low-temperature co-fired ceramics during the forecast period.

Regional Analysis

The global low-temperature co-fired ceramics market has been segmented into four regions, namely North America, Europe, Asia-Pacific, and LAMEA. 

Asia-Pacific is expected to lead the global low-temperature co-fired ceramics market during the forecast period. During the period that is being forecasted, it is likely that the market in the region will develop at a rapid rate. This can be attributed to the region's rapid growth in terms of its industrial infrastructure. The most powerful countries in the Asia Pacific region are China, India, Japan, and Singapore, followed by Indonesia. Furthermore, an increase in investment in these countries' automotive, medical, and aerospace industries is likely to propel the demand for low-temperature co-fired ceramics during the forecast period. This is likely to be the case because these industries are located in these countries.

North America will record significant growth in the global low-temperature co-fired ceramics market. It is anticipated that North America's low-temperature co-fired ceramics market will account for a sizeable portion of the global total. The market for low-temperature co-fired ceramics is being driven upward in the region by several factors, the most important of which is the rise in demand for consumer electronics, home appliances, and telecommunications equipment. The United States of America is one of the world's leading electronic equipment markets. As a result, it is anticipated that there will be a significant increase in the demand for low-temperature co-fired ceramics in the country.

There is a good chance that the market will experience significant growth in Europe and LAMEA. The market for low-temperature co-fired ceramics in Europe is anticipated to expand steadily throughout the forecast period. This is due to the demand for these ceramics in electrical equipment, automobiles, and aerospace industries.

Segmental Analysis

The global market for low-temperature co-fired ceramics has been divided into Material, Type, and End-user.

By Material

Based on the material, the market for low-temperature co-fired ceramics can be divided into several categories, such as ceramic, glass, and silicon. As a result of increased demand from end-user industries, it is anticipated that the ceramic and glass segments will expand at a high growth rate throughout the forecast period.

By Type

Based on the type, the market for low-temperature co-fired ceramics is segmented into glass-ceramic composites and glass-bonded ceramics. The market segment for glass-ceramic composites is anticipated to develop rapidly during the forecast period.

By End-User

Based on the end-user, the market for low-temperature co-fired ceramics can be segmented into automotive, power, aerospace, industrial, consumer electronics, and others. In addition, there is a high demand for low-temperature co-fired ceramics in the automotive and consumer electronics markets. This is because low-temperature co-fired ceramics have stability in high frequency, high accuracy, and high shrinkage tolerance.

Impact of covid-19

Covid-19 had some profound adverse impacts on the global advanced ceramics market.

COVID-19 spread across the world from China, making the whole world stand still and to a complete lockdown situation. Covid-19 is an infectious disease that was caused by a newly discovered coronavirus. During the time, the fatality rate among the population above 40 was also high globally. The disease causes severe illness for people suffering from medical conditions like diabetes, cardiovascular disease, chronic respiratory disease, etc.

Considering the situation during that time, it was declared a pandemic which led to numerous countries, including the major economies like China, the United States, India, and others, implementing lockdowns which adversely affected the global economy.

In the first two quarters of 2020, the economic and industrial operations temporarily halted. Almost every manufacturing unit where advanced ceramics is used, such as electrical and electronics, transportation, industrial, chemical, and other End-user Industries (except medical), reduced their manufacturing capacities due to the lack of workers. The lockdown implemented put a halt to global supply chains. This resulted in repercussions in terms of both production and demand for advanced ceramics.

Market Recovery Timeline and Challenges

With time the lockdowns were uplifted, and relaxation was made to the public. Gradually, the economy picked up the pace and started its operations, bringing the demand in the global advanced ceramics market and increasing among various industries. As the situation improved during the initial months of 2021, the economies also strengthened their fiscal policies and initiated their development process; the end-user industries began their activities, bringing the overall ceramics market back on track.

Recent Developments

• May 2022, NEOTech Invests in New Selective Wave Soldering Machines, Increasing Manufacturing Efficiency, and Quality.
• Feb 2022, NEOTech Partners with Hemisphere GNSS for Product Manufacturing of Portable, Affordable Smart Antenna Solution.