Electronic Ceramics Market size is estimated to be valued at over USD 20 billion by the end of 2032, as per a recent research report announced by Global Market Insights Inc.
Electronics industry is trending towards miniaturization. Manufacturers are working to develop compact electronic gadgets with innovative technology. The increasing need for highly integrated and efficient electronic devices is supporting the development of technical ceramic materials, thereby boosting market expansion. In addition, the usage of ceramics in medical devices is escalating with the material currently being employed in complicated products and processes. Furthermore, the rise in chronic illnesses, coupled with mounting expenditure on creating curative, diagnostic, and preventative techniques, is likely to fuel product demand in the healthcare industry.
Massive capital investment toward manufacturing processes may limit market expansion
Although there have been considerable R&D operations in several areas of electronic ceramics, there is a dearth of cost-effective manufacturing technologies. As a result, significant capital expenditure in production is limiting industry development. However, the development of newer and innovative processing techniques that enhance device performance while lowering production costs is anticipated to be driven by the greater emphasis on technological advancements, which is foreseen to assist manufacturers in overcoming this hurdle.
Growing use for capacitors production to bolster ferroelectric ceramics segment growth
Electronic ceramics market is divided based on product into ferroelectric ceramics, pyroelectric ceramics, piezoelectric ceramics, and others. The ferroelectric ceramics segment is expected to grow substantially at over 6.5% CAGR through 2032 propelled by the widespread use of ferroelectric ceramics in the production of capacitors with variable capacitance. Ferroelectric ceramics also find extensive usage in nonvolatile data storage applications.
Browse key industry insights spread across 350 pages with 336 market data tables and 23 figures & charts from the report “Electronic Ceramics Market Size, 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, 2023 – 2032”, in detail along with the table of contents:
Rising product deployment in electronic products to boost home appliances & consumer electronics segment revenues
Based on end-user, home appliances & consumer electronics segment of the electronic ceramics market accounted for over 35% market share in 2022 and is anticipated to observe notable growth through 2032. Consumer electronics and residential appliances both make extensive use of electronic ceramics. Magnetic ceramics are extensively used in household products. Some ceramics may be permanently magnetic, such as those used in electric toothbrushes and knives, speakers, TVs, and radios, which is estimated to facilitate segment growth.
Booming defense & aerospace sectors to fuel Europe market demand
Europe electronic ceramics market is projected to be valued at over $2 billion by the end of 2032. This substantial revenue share is attributed to the lucrative growth opportunities provided by the proliferating defense and aerospace sectors of the region. Moreover, soaring investments in the domestic defense industry are projected to further support business growth in Europe in the future. For instance, 27 EU member states allocated USD 191 billion of public expenses for the development of the defense sector.
Strategic acquisitions to define the competitive landscape of the industry
Morgan Advanced Materials, CeramTec Holding GmbH, Maruwa Co., Ltd., Kyocera Corporation, Murata Manufacturing Co., Ltd., and APC International, Ltd. are among the leading industry players in the global electronic ceramics market. In February 2017, CeramTec, a maker and supplier of technical ceramics, acquired Morgan Advanced Materials plc's UK electro-ceramics business ("UK Electro-Ceramics"), which includes two manufacturing locations in Ruabon and Southampton. UK Electro-Ceramics manufactures piezoelectric and dielectric ceramic products that are utilized in a variety of industrial, electronics, medical, and defense applications.