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.
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. However, the technology is expensive in its initial stages and requires manufacturers to have thorough technical knowledge and know-how required associated for its development. As a result, for a new market player, it takes some time to get well-versed with the nuances and overcome both the financial and technical challenges.
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The global LTCC market is driven by several factors. For instance, the increasing miniaturization of the electronics with increasing demand for LEDs have been the driving factors from LTCC’s adoption in the consumer, military, and aerospace sectors. Also, the use of various sensors in different parts of the automobiles operating at high temperatures is leading to an increasing demand for LTCC. The increasing usage of LTCC technology toward the MEMS sectors have also been driving the adoption of LTCC. However, the technology is associated with some technical challenges and restraints which have been hampering the adoption to a certain level. Issues such as lower thermal conductivity of LTCC and cost competitiveness at the large scale have been restricting the adoption of LTCC globally.
The benefits offered by the LTCC have been head turners for the global electronics sector. As a result, existing and new market players have been entering this business and have adopted the technology toward the manufacturing of multilayer circuits. However, the associated high initial costs and involved R&D has been a key challenge for the new entrants.
UPCOMING INDUSTRY TRENDS 