The LTCC market and HTCC market is projected to grow from USD 916 million in 2019 to USD 1.1 billion by 2024, at a CAGR of 4.5 % between 2019 and 2024. 

The market is witnessing significant growth because of the growing demand from various end-use industries such as aerospace & defense, automotive, and telecommunications. Co-fired ceramic has good mechanical properties, such as excellent physical, chemical inactivity, hermicity, and high thermal stability properties.

The automotive end-use industry is expected to witness high CAGR between 2019 and 2024
Co-fired ceramics are finding increasing application in the automotive segment. This growing use of co-fired ceramic in the automotive industry is mainly due to the demand for high performance and compact electronic components. The co-fired ceramic is used in the form of LTCC and HTCC in various applications in the automotive industry. The co-fired ceramic is used widely in engine control units, transmission control units, electronic power steering, engine management system, antilock brake systems, airbag control modules, LEDs (automotive lighting), entertainment & navigation systems, pressure control modules, pressure sensor, radar modules, and various sensor modules in vehicles.

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Recent Developments

1. In June 2018, KYOCERA Corporation developed a new ultra-small robust ceramic UHF RFID Tag for tracing surgical instruments for the medical market. The product is made up of LTCC with an embedded antenna which helps in withstanding high temperatures up to 5432-degree Fahrenheit. The product helps in faster checkup in an operation theater that helps in saving time and cost. Thus, increasing the demand for LTCC.
2. In July 2017, KYOCERA Corporation acquired VIA Electronic GmbH which helped the KOA Corporation to extend its LTCC market and HTCC market. This acquisition made KOA Corporation efficient in providing customized LTCC multilayer substrates. Thus, this acquisition helped the company to get market recognition due to the production of high product quality and process stability.

The Asia Pacific is one of the leading LTCC market and HTCC market. The growing demand from end-use industries such as aerospace & defense, automotive, and telecommunications is driving the LTCC market and HTCC market in the region. The region has a presence of major co-fired ceramic manufacturers who focus on the adoption of various business strategies to increase the production of co-fired ceramic and meet the growing demand from end users. For instance, KOA Corporation acquired VIA Electronic GmbH to extend its LTCC market and HTCC market in Japan, in June 2017.  

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