COVID-19 Impact on Global Low-temperature Co-fired Ceramics Market

• Low-temperature co-fired ceramics are primarily used in electronics equipment that are employed in various industries such as aerospace, automobile, medical, and consumer electronics. The COVID-19 outbreak has significantly hampered the demand for these products. Many manufacturers of these products have completely or partially shut their plants owing to lockdowns imposed by governments to curb the spread of the pandemic. Thus, low demand for electrical equipment due to the COVID-19 pandemic is negatively affecting the global low-temperature co-fired ceramics market.

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Key Drivers of Low-temperature Co-fired Ceramics Market

• Rapid industrialization and urbanization is a key driver of the low-temperature co-fired ceramics market. Significant rise in investment in automobile, aerospace, and consumer electronics and other industrial electronics has been boosting the demand for low-temperature co-fired ceramics since the last few years. This trend is expected to continue during the forecast period.
• Increase in focus on miniaturization of electronic equipment is expected to drive the low-temperature co-fired ceramics market. These miniaturized devices can be fabricated using low-temperature co-fired ceramics in a highly cost-effective manner. Thus, demand for low-temperature co-fired ceramics is likely to increase in consumer electronics, automobile, as well as aerospace industries.

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Global Low-temperature Co-fired Ceramics Market: Segmentation

• The global low-temperature co-fired ceramics market can be segmented based on material, type, and end-user
• In terms of material, the low-temperature co-fired ceramics market can be segmented into ceramic, glass, silicon, and others. Ceramic and glass segments are expected to expand at a high CAGR during the forecast period, due to high demand from end-user industries.
• Based on type, the low-temperature co-fired ceramics market can be fragmented into glass ceramic composites and glass bonded ceramics. The glass ceramic composites segment is expected to expand at a high CAGR during the forecast period.
• Based on end-user, the low-temperature co-fired ceramics market can be divided into automotive, power, aerospace, industrial, consumer electronics, and others. Furthermore, demand for the low-temperature co-fired ceramics is high in automotive and consumer electronics segments, as low-temperature co-fired ceramics have stability in high frequency, high accuracy, and high shrinkage tolerance.

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Global Low-temperature Co-fired Ceramics Market: Regional Segmentation

• Based on region, the global low-temperature co-fired ceramics market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East Africa
• Asia Pacific is expected to dominate the global low-temperature co-fired ceramics market during the forecast period. The market in the region is estimated to expand at a significant pace during the forecast period. This can be ascribed to the rapid industrial development in the region. China, India, Japan, Singapore, and Indonesia are the leading countries in Asia Pacific. Furthermore, increase in investment in automotive, medical, and aerospace industries in these countries is likely to propel the demand for the low-temperature co-fired ceramics during the forecast period.
• North America is also expected to account for considerable share of the global low-temperature co-fired ceramics market during the forecast period. Increase in demand for consumer electronics, home appliances, and telecommunication equipment is a key factor boosting the low-temperature co-fired ceramics market in the region. The U.S. is the one of the leading electronic equipment market in the world. Hence, demand for low-temperature co-fired ceramics is expected to be high in the country.
• The low-temperature co-fired ceramics market in Europe is projected to expand at a steady pace during the forecast period, due to increase in demand for these ceramics in electrical equipment, automobile, and aerospace industries.

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Key Players Operating in Market

• DuPont
• NGK SPARK PLUG's GROUP
• Adamant Namiki Precision Jewel Co., Ltd.
• KYOCERA Corporation
• Micro Systems Engineering GmbH
• Murata Manufacturing Co., Ltd.
• NEOTech
• NIKKO COMPANY
• NTK Technologies
• VIA Electronic GmbH

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