The Global Hermetic Packaging Market size is expected to reach USD 5.12 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 4.5 % during the forecast period. The growing transformation in businesses owing to acceptance of integrated automation systems will have a tremendous impact on the global market, states Vantage Market Research, in a report, titled “Hermetic Packaging Market by Configuration (Multilayer Ceramic Packages, Pressed Ceramic Packages, Metal Can Packages), by Type (Passivation Glass, Reed Glass, Transponder Glass, Glass-Metal Sealing (GTMS), by Application (Transistors, Sensors, Lasers, Airbag Ignitors), by Industry (Military & Defense, Aeronautics & Space, Automotive, Energy & Nuclear Safety), by Region (North America, Europe, Asia Pacific, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”. The market size stood at USD 3.76 Billion in 2021.
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The COVID-19 outbreak has affected various industries worldwide. The Hermetic Packaging Market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy impairing various industries. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data-points:
Read more: Hermetic Packaging Market Worth USD 5.12 Billion by 2028