Monolithic Ceramics Market Analysis

Monolithic Ceramics Market Analysis

Based on product, the global monolithic ceramics market is segmented into oxides and non-oxides. Oxides segment accounted for close to 60% of the monolithic ceramics market in 2016 owing to its extensive usage in the electronics & electrical industry. This product segment’s demand is fueled by its wide applications in the manufacturing of capacitors needed in electronic circuits and devices. Capacitors made using oxide types are smaller in size and has larger capacitance than the conventional ones. Other advantages such as better frequency characteristics and resistance to abnormal voltage will also boost the product demand in the electronics industry during the forecast timeframe.
 

Non-oxides such as carbides and nitrides are extensively used for their temperature and corrosion resistant properties. Non-oxide monolithic ceramics market will experience healthy growth of around 7.5% CAGR during the forecast timeframe. This growth will be chiefly propelled by its increasing usage in automotive and aerospace sectors due its favorable properties.
 

By application, the global monolithic ceramics market is segmented into five categories including electrical & electronics, automotive, power, medical, and other applications such as defense, chemicals, plastics, etc. Electrical & electronics is the major application segment and occupied more than half of the product market in 2016. The product is extensively used in the electrical & electronics sector owing to its unique mechanical and physical properties This segment will grow by more than 7.5% CAGR during the forecast timespan.
 

The product is also employed in the power generation sector in the manufacturing of gas turbine components, high temperature heat exchangers, and turbine rotors. This segment of the monolithic ceramics market was valued around USD 2.5 billion in 2016. High temperature strength and resistance to creep & corrosion will increase the product demand for the power generation sector and will contribute to the global monolithic ceramics market growth.
 

North America held more than a fifth of the global monolithic ceramics market in 2016 and will gain the industry at a significant rate during the forecast spell. The regional market’s growth will be boosted by stringent environmental norms which will lead to rising product demand in pollution control equipment. Developments in the U.S. power sector will also augment the North America product market development.
 

Europe monolithic ceramics market registered a revenue above USD 4.5 billion in 2016. The regional markets growth will be driven by the rising electrical & electronics industry in Germany, Netherlands, and the East European countries including Czech Republic, Austria, Hungary, Poland, etc. Product usage in the medical sector will also fuel the Europe market growth till 2024.