New Jersey, NJ, Sept. 17, 2019 (GLOBE NEWSWIRE) -- Rising per capita income in developing economies around the world is leading to increased demand for home appliances and mobile phones which is proving to be the major driving force for the demand. The global electronic ceramics market is expected to grow from USD 10.34 billion in 2017 to USD 15.42 billion by 2025 at a CAGR of 5.12% during the forecast period 2018-2025, according to the new report published by Fior Markets.
Ceramic is a solid material comprising an inorganic compound of metal, non-metal or metalloid atoms primarily held together in ionic and covalent bonds. Modern ceramic materials on account of their high-temperature stability, durability, low thermal expansion and magnetic properties are playing an indispensable role in products such as smartphones, computers, televisions, automotive electronics, and medical devices.
Increasing demand for replacing conventional metals with electronic ceramics on account of their superior high-temperature stability, durability, low thermal expansion and magnetic properties is expected to drive the market. On the other hand, lack of cost-effective manufacturing process coupled with high raw material cost and high research and development expenditure are proving to be the major the roadblocks for global electronic ceramics market.
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The major players in global electronics ceramics market include Ceram Tec GmbH, Kyocera Corporation, Morgan Advanced Materials Plc., McDanel Advanced Ceramic Technologies, Ceradyne, Inc., Rauschert Steinbach GmbH, Murata Manufacturing Co., Ltd., Mantec Technical Ceramics Ltd. among others. To enhance their market position in the global electronic and ceramics market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- To cater to ever increasing demand for electronic ceramics, many firms are undertaking the expansion of their manufacturing capacities. For instance, Murata Manufacturing Co., Ltd. a worldwide leader in the design, manufacture and sale of ceramic-based passive electronic components has decided to go for expansion of their manufacturing capacity in Wuxi New District, Jiangsu Province of China. The facility is expected to commence commercial production in December 2019.
- For instance, in 2018, Kyocera Corporation planned to build a new plant in Kagoshima, Japan, for ceramic microelectronic packages. This plant is intended to increase the production of ceramic microelectronic packages. Also, the company entered into a site location agreement with local governments.
Alumina ceramics accounted for 39.47% of total market revenue in 2017
The material type segment is divided into alumina, silica, titanate, zirconia and others. Owing to its low cost of production and acceptability over a wider range of applications for the production of electronic displays and cell phones alumina segment clocked 39.47% of total market revenues in 2017. Zirconia ceramics despite being expensive is projected to grow at an impressive pace of 7.03% CAGR due to its innovative utilization in oxygen sensors and fuel cells.
Monolithic ceramics is anticipated to grow at a CAGR of 8.26% during 2018-2025
Product is segmented into monolithic ceramics, ceramic matrix composites, ceramic coatings and others. On account of its increasing application in the manufacturing of alarm sensors and security systems, monolithic ceramics segment is forecasted to witness the growth at an 8.26% CAGR. Ceramic matrix composites type is also expected to progress at a stable pace due to its utilization in the production of precision manufacturing.
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Home appliances segment led the market with USD 3.98 billion revenue in 2017
Application segment is subdivided into home appliance, medical devices, mobile phones and others. Rising disposable income and standard of living in the developing economies around the world is generating unceasing demand for consumer home appliances as well as other electronic goods which in turn generates huge demand for electronic ceramics. Due to this, the home appliance segment dominated market with totalling over USD 3.98 billion in venues during 2017. Rising expenditure on healthcare and diagnostics services is expected to propel the medical devices segment with the highest CAGR of 7.14% in 2018-2025.
Region Segment Analysis of the Electronic and Ceramics Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific region led the market for electronics ceramics in 2017 with USD 3.51 billion revenues followed by North America. Rising per capita income in the Asia Pacific region is providing the fillip to the demand for home appliances in the region. Also, massive investment in the healthcare sector and the rise of medical tourism in the region are expected to propel the demand for medical appliances and diagnostics equipment thus increasing the size of electronics ceramics market. North America region is also expected to generate the demand at a robust pace due to its well-developed healthcare sector and consumer electronics market.
About the report:
The global electronic ceramics market is analysed on the basis of value (USD Billion), volume (Kilotons), consumption (Kilotons), import (Kilotons), and export (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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