Electroceramics Market Overview, Key Players and Future Scope

Electroceramics Market
Written by pnsintel

Electroceramics refer to a type of ceramic-based materials that exhibit favorable electrical properties. Such materials impart high chemical, mechanical, and thermal stability to products upon integration. Furthermore, these materials also have distinct magnetic and optical properties, which encourage their use in automation solutions, energy storage, communication, and electronic devices and components. These ceramics are made up of titanate, alumina, zirconate, stannate, silicate, or stannate. In recent years, alumina-based electroceramics have gained preference over other materials because of their exceptional heat resistance, better thermal conductivity, exceptional hardness, and high electrical insulation properties.

Electroceramics are being increasingly used in the semiconductor and electronics industry for manufacturing capacitors, actuators and sensors, power distribution devices, and data storage devices. These products are largely used in consumer electronics such as laptops, smartphones, and computers, owing to their ability to maintain technological feasibility, amplify economic viability, and optimize size and space constraints in such electronics. Thus, the burgeoning demand for consumer electronics will help the electroceramics market to advance at 5.9% CAGR during 2018–2023. The market was valued at $8,590.9 million in 2017 and it is expected to reach $12,084.4 million revenue by 2023.

Additionally, large volumes of electroceramics are also being used in the automotive industry due to their requirement in the sensors and electronic devices used in automobiles. These materials are deployed in spark plugs, oxygen sensors, combustion sensors, and knock sensors of automobiles. Boats and ships, cars, motorcycles, and commercial vehicles operating on internal combustion engines (ICEs) use such sensors to monitor key performance and qualitative indicators in these automobiles. Thus, the increasing adoption of these vehicles will accelerate the consumption of electroceramics in the forthcoming years.

Nowadays, electroceramic manufacturing companies are extensively focusing on facility expansion, mergers and acquisitions, and product launches to cater to a greater number of customers. For example, in December 2017, Kyocera Corporation developed the smallest multilayer ceramic capacitors, measuring 0.25 mm x 0.125 mm x 0.125 mm, for mobile devices. Other companies such as Kyocera Corporation, CeramTec GmbH, Sensor Technology Ltd., CoorsTek Inc., Morgan Advanced Materials plc, Murata Manufacturing Co. Ltd., Maruwa Co. Ltd., Central Electronics Ltd., APC International Ltd., and PI Ceramic GmbH are also developing new products to offer better options to customers.

According to P&S Intelligence, Asia-Pacific (APAC) dominated the electroceramics market in the preceding years, and it is also expected to advance at the highest rate in the forthcoming years. This can be majorly owed to the high-volume consumption of electroceramics in the consumer electronics and automotive manufacturing facilities in India, China, Taiwan, Japan, and South Korea. Moreover, the flourishing medical industry and surging production of information and communications technology (ICT) goods in the region will also augment the consumption of such ceramics in the coming years.

Thus, the booming demand for automobiles, consumer electronics, and medical devices will accelerate the consumption of electroceramics in the foreseeable future.

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