PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1443352
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1443352
Electronics Ceramic Market size was valued at USD 12,550 Million in 2023, expanding at a CAGR of 4.9% from 2024 to 2032.
Electronic ceramic, also known as electronic or magnetic ceramic, is a type of ceramic material that finds applications in the electronic industry. These ceramics possess unique properties that are achieved through precise control of their surface, grain boundary, and size structure. They have a wide range of uses in various sectors such as energy, household appliances, and automobiles. In the production of electronic functional components, electronic ceramics are predominantly made up of oxide sintered body materials. The manufacturing process of electronic ceramics closely resembles that of traditional ceramics. However, electronic ceramics exhibit distinct differences in terms of their chemical composition, microstructure, and mechanical and electrical properties compared to general electric power ceramics.
Electronics Ceramic Market- Market Dynamics
Increase in demand for electronic ceramics in the telecommunication industry is anticipated to propel the market demand
The emerging markets are experiencing a rapid expansion in telecommunication infrastructure, which is accompanied by a rising consumer demand for electronic devices. This situation opens up new possibilities for electronic ceramic manufacturers to expand their market presence and meet the increasing demand. According to Telecommunications Market Statistics, the expenditure in the telecommunication services industry is projected to reach 1.45 trillion U.S. dollars in 2021, marking a nearly 5% increase from 2020. Furthermore, this spending is expected to continue growing and reach 1.505 trillion U.S. dollars by 2022. The continuous advancements in electronic devices and technologies also present a significant opportunity for the Electronics Ceramic market. However, it is important to note that the high manufacturing costs may pose a challenge to the market's growth.
Electronics Ceramic Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.9% over the forecast period (2024-2032)
Based on Product segmentation, Piezoelectric Ceramics was predicted to show maximum market share in the year 2023
Based on Application segmentation, Home Appliances & Consumer Electronics was the leading Product in 2023
On the basis of region, Asia pacific was the leading revenue generator in 2023
The Global Electronics Ceramic Market is segmented on the basis of Product, Application and Region.
The market is segmented into three groups according to Product: Ferroelectric Ceramics, Piezoelectric Ceramics, Pyroelectric Ceramics, and other categories. Piezoelectric Ceramics holds the largest market share. The increasing demand for piezoelectric ceramics is driven by their wide range of uses in various sectors including consumer electronics, automotive, healthcare, aerospace, and industrial manufacturing.
The market is categorized into four segments based on Application: Home Appliances & Consumer Electronics, Healthcare, Automotive & Transportation, Telecommunication & Power Transmission, and Others. The dominant segment in the market is Home Appliances & Consumer Electronics. Ceramics are widely utilized as heating elements in home appliances like electric stoves, ovens, and space heaters. Ceramic heating elements provide several benefits, including high heat resistance, durability, and uniform heat distribution, which make them suitable for a wide range of heating applications.
Electronics Ceramic Market- Geographical Insights
This market is geographically spread across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The Asia Pacific region is expected to dominate the market due to advancements in technology in the fields of electronics, automotive, and communication systems. The rapid industrialization and urbanization in countries across the Asia Pacific region have resulted in a higher demand for electronic devices and systems in various sectors such as automotive, consumer electronics, healthcare, and telecommunications. In December 2023, China's industrial production grew by 6.8% year-on-year, surpassing market expectations of 6.6%, according to China Industrial Production. Europe and North America hold the second-largest region for market growth during the forecast period, primarily due to the increasing use of electronic ceramics in medical devices.
The competitiveness among companies in the Electronics Ceramic market is determined by the range and excellence of their product portfolios. A crucial factor that drives competitive advantage is the innovation in ceramic materials, such as the advancement of piezoelectric ceramics or ceramic substrates with improved properties. To cater to the changing requirements of electronic device manufacturers, companies heavily invest in research and development to introduce new materials and technologies. For instance, Chinese scientists have recently developed an innovative method for 3D printing ceramics in mid-air, eliminating the need for supportive structures. This cutting-edge technique allows for the creation of ceramic parts at various angles, previously unattainable with conventional 3D printing methods. Strengthening their capabilities, expanding product offerings, and improving market position can be achieved through collaborations with complementary technology providers or acquisitions of niche players.
In July 2023, new functional ceramic materials emerged, offering a diverse range of functions such as electrical, magnetic, optical, acoustic, thermal, mechanical, chemical, and biological properties. These materials include ferroelectric, piezoelectric, dielectric, pyroelectric, semiconductor, electro-optic, and magnetic ceramics, each serving different purposes in various applications.
GLOBAL ELECTRONICS CERAMIC MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Phinergy
China Dynamics
Fuji Pigment
Xinjiang Joinworld Co., Ltd.
ACTXE Limited
De Nora Tech, Inc.
Duracell
IBM
Polyplus
Lithium Air Industries
Others