Electronic Ceramics Market size to exceed $14 Bn by 2026
Published Date: October 5, 2020 Authors: Kiran Pulidindi, Akshay Prakash
According to a new research report by Global Market Insights, Inc., the Electronic Ceramics Market size is expected to exceed USD 14 billion by 2026.
Rising vehicle adoption and technological advancements to drive product adoption
Extensive research & development activities carried out by automotive industry participants is likely to drive the demand for alternate energy vehicles. The cars in future will be autonomous, electrified, connected, and shared, which will emit less greenhouse gases and noise into the surrounding environment. These cars will take up lesser space as they move autonomously and will be more accessible as users will not require a driving license to drive the car.
Surge in the number of electric cars will positively drive the need for more sensors and related electronic equipment in cars, spurring electronic ceramics market growth. The worldwide automobile sales in 2019 was around 91 million. The rise in automobile sales comes from the emerging markets including India, China, and other ASEAN countries as well as from the Middle East region. The rise in automobile sales will augment the use for electronic ceramics in oxygen sensors, PTC heaters, spark & glow plugs, fuel injection systems, and knocking sensors.
Browse key industry insights spread across 250 pages with 336 market data tables & 25 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 Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
The ferroelectric segment is expected to witness over 3.5% CAGR in electronic ceramics market share owing to its widespread demand in telecommunication, home appliances, and automotive applications. These comprise of materials that exhibit ferroelectric effect and have the ability to show spontaneous electric polarization and that polarization can be reversed by the interference of the external field. They are used to manufacture capacitors and are used in medical ultrasound machines, sonar, excellent quality infrared cameras, fire & vibration sensors, and fuel injectors.
Telecommunication & power transmission end-user to gain popularity
The telecommunication & power transmission segment is estimated witness around 4.5% CAGR in electronic ceramics market. Electronic ceramics exhibit superior resistivity and low dielectric value, making them suitable for insulator applications and in integrated circuits. Other electronic ceramic parts are used in modern cellphones in an array of almost 250 capacitors and four dozen chip inductors and EMI suppression filters. With growing availability of cost-effective smartphones.
Presence of a strong automotive base and robust aerospace & defense sectors are expected to drive the Europe market
The Europe electronic ceramics market is projected to foresee over 3.5% CAGR due to strong end-use sectors, i.e., the automotive and aerospace & defense sectors. The EU’s 27 member states spent around USD 190 billion for public expenditure in defense in 2018. Significant defense expenditure will promulgate the consumption of electronic ceramics in the production of various electronic equipment and different weaponry.
The region is also an automotive industry hub with increased passenger car registrations by around 3.5%, crossing the mark of 15 million units in 2019. Strong end-use industries will create lucrative opportunities for electronic ceramics market expansion.
Some of the key electronic ceramics industry participants include CeramTec Holding GmbH, Maruwa Co., Kyocera Corporation, PI Ceramics, Vinayak Techno Ceramics, and APC International, Ltd.
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