The electroceramics market is expected to value $12,084.4 million by 2023
NEW YORK, Nov. 14, 2019 /PRNewswire/ --
Electroceramics Market (2013-2023)
As per the report, the electroceramics market is expected to value $12,084.4 million by 2023. The market growth will primarily be driven by the high demand for such materials from the semiconductor and electronics, medical, and automotive industries.
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Material, application, type, and region are the four aspects on the basis of which the market has been segmented in the report. Conductive ceramics, dielectric ceramics, magnetic ceramics, piezoelectric ceramics, and others (ferroelectric and fast ion ceramics) are the various categories within the "type" segment. Among all these, dielectric ceramics held the largest electroceramics market share during the historical period, due to their adoption in industrial and consumer devices and components.
When segmented on the basis of material, the electroceramics market categories are zirconate, alumina, titanate, and others (niobite, silicate, and stannate). In 2017, the aluminia category held the largest revenue share (of over 40.0%) in the market. The substantial heat and wear resistance, adequate hardness, optimum electrical insulation at high temperatures, and better thermal conductivity of these electroceramics made them a preferred choice among end users across the world.
Data storage devices, capacitors, power distribution devices, actuators and sensors, optoelectronic devices, and others are the various application areas of electroceramics. During the historical period, capacitors made the largest revenue contribution to the electroceramics market, as these are integral components of electronic circuits. Capacitors restrict direct current and allow alternating current to flow in addition to maintaining the power transmission in the circuit. Thus, a rise in the production of capacitors drove the demand for electroceramics historically.
During the forecast period, the electroceramics market will witness the fastest growth in Asia-Pacific (APAC), advancing at a CAGR of 7.1%, due to the growing demand for these ceramics from automotive, medical equipment, and consumer electronics manufacturing firms. Within APAC, consumer electronics are majorly manufactured in Japan, China, South Korea, India, and Taiwan. China fulfils the worldwide demand for electronics with its large-scale production of information and communication technology (ICT) equipment, for which consumer electronics, electronic components, computers and peripheral equipment, and communication equipment need to be manufactured.
All these products have data storage devices and capacitors as critical components. Since electroceramics are widely used to manufacture capacitors and data storage devices, a rise in the demand for these as a result of the expanding electronics industry will take the electroceramics market forward. Seeing the growth potential, major market players, including CoorsTek Inc., Kyocera Corporation, Morgan Advanced Materials plc, CeramTec GmbH, APC International Ltd., Maruwa Co. Ltd., Sensor Technology Limited, PI Ceramic GmbH, Central Electronics Limited, and Murata Manufacturing Co. Ltd., are taking strategic measures to increase their market share.
For instance, CeramTec GmbH acquired the electroceramics business of Morgan Advanced Materials plc in March 2017. The $60.2 million acquisition helped CeramTec enhance its technological capabilities to expand its dielectric and piezoelectric ceramics portfolio.
Global Electroceramics Market Segmentation
By Type
- Dielectric Ceramics
- Conductive Ceramics
- Piezoelectric Ceramics
- Magnetic Ceramics
- Others
By Material
- Titanate
- Zirconate
- Alumina
- Others
By Application
- Capacitors
- Data Storage Devices
- Optoelectronic Devices
- Actuators and Sensors
- Power Distribution Devices
- Others
By Geography
- North America Electroceramics Market
- By type
- By material
- By application
- By country - U.S. and Canada
- Europe Electroceramics Market
- By type
- By material
- By application
- By country - Germany, U.K., France, Italy, Spain, Netherlands, and Rest of Europe
- Asia-Pacific (APAC) Electroceramics Market
- By type
- By material
- By application
- By country - China, Japan, South Korea, India, Taiwan, Australia, and Rest of APAC
- Latin America (LATAM) Electroceramics Market
- By type
- By material
- By application
- By country - Brazil, Mexico, Argentina, and Rest of LATAM
- Middle East and Africa (MEA) Electroceramics Market
- By type
- By material
- By application
- By country - South Africa, Saudi Arabia, Israel, U.A.E., and Rest of MEA
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