Electronic Ceramics Industry is expected to register 7% CAGR between 2023 and 2032 propelled by stimulating product demand due to the emergence of new technologies.
Selbyville, Delaware, Dec. 05, 2022 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the global Electronic Ceramics Market was estimated at USD 10 billion in 2022 and is expected to surpass a valuation of $20 billion by 2032, progressing at a CAGR of 7% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
Electronics industry is trending towards miniaturization. Manufacturers are working to develop compact electronic gadgets with innovative technology. The increasing need for highly integrated and efficient electronic devices is supporting the development of technical ceramic materials, thereby boosting market expansion. In addition, the usage of ceramics in medical devices is escalating with the material currently being employed in complicated products and processes. Furthermore, the rise in chronic illnesses, coupled with mounting expenditure on creating curative, diagnostic, and preventative techniques, is likely to fuel product demand in the healthcare industry.
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Massive capital investment toward manufacturing processes may limit electronic ceramics market expansion
Although there have been considerable R&D operations in several areas of electronic ceramics, there is a dearth of cost-effective manufacturing technologies. As a result, significant capital expenditure in production is limiting industry development. However, the development of newer and innovative processing techniques that enhance device performance while lowering production costs is anticipated to be driven by the greater emphasis on technological advancements, which is foreseen to assist manufacturers in overcoming this hurdle.
Key reasons for Electronic Ceramics Market growth:
Growth in the telecommunication sector.
Growing demand from end-use markets.
Stimulating product demand due to the emergence of new technologies.
Rising application of electronic ceramics in medical devices.
Development of low production cost technologies.
Growing use for capacitors production to bolster ferroelectric ceramics segment growth
Electronic ceramics Industry share is divided based on product into ferroelectric ceramics, pyroelectric ceramics, piezoelectric ceramics, and others. The ferroelectric ceramics segment is expected to grow substantially at over 6.5% CAGR through 2032 propelled by the widespread use of ferroelectric ceramics in the production of capacitors with variable capacitance. Ferroelectric ceramics also find extensive usage in nonvolatile data storage applications.
Rising product deployment in electronic products to boost home appliances & consumer electronics segment revenues
Based on end-user, home appliances & consumer electronics segment of the electronic ceramics market accounted for over 35% market share in 2022 and is anticipated to observe notable growth through 2032. Consumer electronics and residential appliances both make extensive use of electronic ceramics. Magnetic ceramics are extensively used in household products. Some ceramics may be permanently magnetic, such as those used in electric toothbrushes and knives, speakers, TVs, and radios, which is estimated to facilitate segment growth.
Booming defense & aerospace sectors to fuel Europe market demand
Europe electronic ceramics market is projected to be valued at over $2 billion by the end of 2032. This substantial revenue share is attributed to the lucrative growth opportunities provided by the proliferating defense and aerospace sectors of the region. Moreover, soaring investments in the domestic defense industry are projected to further support business growth in Europe in the future. For instance, 27 EU member states allocated USD 191 billion of public expenses for the development of the defense sector.
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Strategic acquisitions to define the competitive landscape of the industry
Morgan Advanced Materials, CeramTec Holding GmbH, Maruwa Co., Ltd., Kyocera Corporation, Murata Manufacturing Co., Ltd., and APC International, Ltd. are among the leading industry players in the global electronic ceramics market. In February 2017, CeramTec, a maker and supplier of technical ceramics, acquired Morgan Advanced Materials plc's UK electro-ceramics business ("UK Electro-Ceramics"), which includes two manufacturing locations in Ruabon and Southampton. UK Electro-Ceramics manufactures piezoelectric and dielectric ceramic products that are utilized in a variety of industrial, electronics, medical, and defense applications.
Partial chapters of report table of contents (TOC):
Chapter 5 Electronic Ceramics Market, By Product
5.1 Market insights, by product
5.2 Ferroelectric ceramics
5.3 Piezoelectric ceramics
5.4 Pyroelectric ceramics
Chapter 6 Global Market, By End-user
6.1 Global market insights, by end-user
6.2 Home appliances & consumer electronics
6.4 Automotive & transportation
6.5 Telecommunication & power transmission
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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