Global Electroceramics Market - Segmented by Product Type, Application, and Geography - Growth, Trends and Forecast (2018 - 2023)
The electroceramics market is expected to register a moderate growth rate between 2018 and 2023. With the advancement of semiconductor and electronics industries, the number of the area of application, for different electroceramic materials, has significantly increased.
Growing Semiconductor and Electronics Industries
Electroceramics are advanced ceramic materials that exhibit electronic, optical or electro-magnetic properties. Electroceramic materials are used for specific technological applications, which include the manufacture of data storage devices, sensors, transducers, and actuators. Electroceramic materials can be divided into multiple subclasses, with each subclass being used for specific applications. Major materials for electroceramics include titanate, zirconia, alumina, and others. Titanate is a base material in piezoelectric ceramics, while alumina is used to develop metrology components, actuators, semiconductor cores, and substrates. Semiconducting oxides are used for environment monitoring, in magnetic ceramic materials, which are used for data storage, and ferroelectric materials, which are used to develop accelerometers. Due to their increase in their demand, the consumption of electroceramics is expected to increase in the near future.
Electronics is the Major End-user Industry
Electronics is expected to be one of the major end-user industries of the electroceramics market. The growing domestic electronics manufacturing industry has attracted numerous foreign investors in the developing countries, like China and India. Indian foreign investment policy is providing an investor friendly platform to invest in the field of IT and electronics industry. Furthermore, the growth of the electronic industry in the China, owing to the accelerating demand for laptops, smartphones, smart TVs, and electronic devices is also driving the market.
Asia-Pacific to Lead the Market
Asia-Pacific is expected to be the leading consumer of electroceramics, as strong semiconductor and electronics industries are situated in this region. China has become one of the largest producers and consumers of electroceramics, due to the large consumer base, massive technology advancement, and low-cost resource advantage of the country. The government initiatives and tax policies in these regions are promoting the usage of electroceramics have a positive effect during the forecast period.
Major Players: Kyocera Corporation, Morgan Advanced Materials, Huntsman Corporation, Rubicon Technology, Maruwa Co. Ltd, amongst others.
Notable Developments in the Market
October 2017: Buyout group BC Partners agreed to buy the German industrial ceramics group, Ceramtec, from peer investor Cinven
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