Wilmington, Delaware, United States, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global ceramic setter plates market is projected to flourish at a CAGR of 3.4% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 1.5 billion is anticipated for the market in 2031. As of 2023, the demand for ceramic setter plates is expected to close at US$ 1.14 billion.
Ceramic setter plates are used to manufacture electronic components such as capacitors, resistors, and semiconductors. With the increasing demand for electronic devices, especially in sectors like smartphones, automotive electronics, and IoT, the demand for ceramic setter plates has rise.
Ceramic setter plates are known for their high-temperature resistance, dimensional stability, and excellent thermal shock resistance. These properties make them ideal for use in high-temperature manufacturing processes like sintering, firing, and annealing. As industries require more advanced and reliable materials for their production processes, the demand for ceramic setter plates grows.
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Ceramic setter plates find applications in aerospace and defense manufacturing, where precision and high-temperature resistance are critical. The growth of the aerospace and defense industry, driven by technological advancements and the need for lightweight and durable materials, has contributed to the demand for ceramic setter plates.
The ceramics industry has been witnessing advancements in manufacturing technologies and materials. This has led to the development of setter plates with improved properties, such as enhanced strength, durability, and thermal conductivity. These innovations have expanded the potential applications of ceramic setter plates, driving market growth.
Key Takeaways from the Market Study
- As of 2022, the ceramic setter plates market was valued at US$ 1.1 billion
- Based on the distribution channel, the online segment dominated the global ceramic setter plates market during the forecast period.
- By end-user, the commercial sector segment accounts for the largest market share.
Ceramic Setter Plates Market: Key Trends and Opportunistic Frontiers
- The growing investment in infrastructure development and a focus on renewable energy technologies present opportunities for the market.
- The growth of emerging economies and industrialization in regions like Asia, particularly in countries like China and India, has increased demand for ceramic setter plates in various industries.
- The increasing demand for ceramic setter plates in the production of medical devices and dental equipment. With the growing healthcare industry and the demand for innovative medical technologies, the market for ceramic setter plates has experienced growth.
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Ceramic Setter Plates Market – Regional Analysis
- The market in Asia Pacific has been growing at a steady rate due to high product demand from countries such as India and China. Increase in disposable income and brand awareness have led to regional market development.
- Rapid industrialization, growth in the electronics sector, and increasing automotive production drive the demand for ceramic setter plates in this region. Government initiatives and investments in infrastructure, healthcare, and renewable energy projects further boost the market.
- Consumers in Europe are driven toward investing in ceramic setter plates owing to their varied taste and awareness about the product. Major manufacturers are located in Germany and the United Kingdom, which is an advantage for the regional market. High standard of living and increase in dining units such as hotels and restaurants in Europe are also leading to regional ceramic setter plates market expansion.
Competitive Landscape
Top market players profiled in the report include Kerafol, CeramTec, Applied Ceramics, Anderman Industrial Ceramics, IPS Ceramics, Tuckers Pottery, Unipretec, and Bailey Ceramic. These players are investing significantly in innovative products and working on introducing attractive designs to stay ahead of their competitors.
Key Developments in the Ceramic Setter Plates Market
- CeramTec, a subsidiary of Morgan Advanced Materials, is a global manufacturer of advanced ceramics. They offer ceramic setter plates for various industrial applications and are known for their continuous product development and innovation.
- NGK Insulators is a Japanese company known for its ceramics and advanced materials. They produce setter plates for the electronics and automotive industries, focusing on high-precision and high-temperature applications.
Ceramic Setter Plates Market – Key Segments
Type
- Alumina Ceramic
- Aluminum Nitride Ceramic
- Others
Price
- Low
- Medium
- High
End-user
- Residential
- Commercial
- Restaurants/Hotels
- Bars/Cafés
- Others
Distribution Channel
- Online
- E-commerce Sites
- Company Websites
- Offline
- Hypermarkets / Supermarkets
- Specialty Stores
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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