According to a new research study published by Global Market Insights Inc., the Electronic Ceramics Market size is expected to exceed USD 14 billion by 2027 due to the technology upgrades in telecommunication, automotive, and electronics.
Emergence of the Internet of Things (IoT) in almost every sector will open new avenues for the industry. It allows the digital transformation of numerous processes and can monitor important operational indicators utilizing various sensors in manufacturing, vehicle tracking, and the healthcare industry. Furthermore, to transport large amounts of data, the 5G network, which is quicker than 4G, requires an entirely new set of equipment and antenna systems. These factors, in turn, will encourage electronic ceramic manufacturers to increase their production capabilities to cater to the growing industry requirements.
Increasing demand for ferroelectric ceramics to drive industry growth
Ferroelectric ceramics will witness 6% CAGR through 2027 as these are widely used in manufacturing capacitors with tunable capacitance. Ferroelectric ceramics can be used in non-volatile data storage applications. Piezoelectric ceramics are used to generate signals, widening their scope in the industrial sector as actuators, piezo generators, transducers, etc.
Pyroelectric ceramics are majorly used in pollution control and thermal imaging devices as they can generate voltage when they are heated or cooled. With increasing investments in developing more advanced electronic equipment for various end-user industries, the demand for electronic ceramics is likely to propel over the forecast timeframe.
The automotive & transportation segment will account for over 10% of the market share by 2027 and is expected to grow at a significant rate during the forecast timeline. In automobiles, electronic ceramics act as functional ceramics and are used in engine knock sensors, spark & glow plugs, oxygen sensors, parking distance control sensors, PTC heaters, and fuel injection systems. All these components are used in passenger cars, trucks, buses, construction vehicles, agricultural equipment, and more.
Browse key industry insights spread across 250 pages with 336 market data tables & 23 figures & charts from the report, “Electronic Ceramics Market By Product (Ferroelectric, Piezoelectric, Pyroelectric), By End-user (Home Appliances & Consumer Electronics, Healthcare, Automotive & Transportation, Telecommunication & Power Transmission), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027”, in detail along with the table of contents:
The COVID-19 crisis will negatively influence electronic ceramics demand in the near term owing to increasing operational costs and uncertainties in CAPEX outflow in terms of product production, distribution, development & innovation. Nationwide lockdowns, disruptions in raw material supply chains, low production, and shortage of skilled workers have severely impacted the overall ceramic production in 2019 and 2020. However, due to the demand from home appliances & consumer electronics, automotive & transportation, healthcare, telecommunication, and power transmission, the global electronic ceramics market is likely to offer immense opportunities in the long run.
Latin America will witness around 6% CAGR through 2027 due to the availability of fuel at affordable rates. Global automobile manufacturers are also setting plants in this region owing to the availability of cost-effective labor and land. The region also has a good amount of population whose per capita income is increasing, thus providing a potential factor for the sector to grow. The use of sensors, transducers, etc., is increasing in automobiles even the basic component such as a spark plug uses ceramics. Furthermore, a rise in demand for automobiles will also boost the electronic ceramics market in this region.
Some of the major manufacturers in the global electronic ceramics industry are Maruwa Co., Ltd., Kyocera Corporation, CeramTec Holdings GmbH, Sensor Technology Ltd., Morgan Advanced Materials, Central Electronics Limited, Murata Manufacturing Co., Ltd., Vinayak Techno Ceramics, PI Ceramics, Sparkler Ceramics Pvt. Ltd., and APC International, Ltd.