Electroceramics Market Poised to Expand at 5.5% CAGR by 2022
Monday, March 02, 2020
Press release from the issuing company
The global market for electroceramics reached $8.3 billion in 2016. The market should reach $11.5 billion by 2022, increasing at a compound annual growth rate (CAGR) of 5.5% from 2017 to 2022.
The scope of the study includes discussion of current and upcoming trends for electroceramics. Raw material analysis, product lifecycle analysis and a competitive landscape are also included within the scope of this study. Efforts to understand the demand and supply side market trends, as well as to track the market’s future growth potential, are also covered under the scope of the study.
Electroceramic types include dielectric ceramics, conductive ceramics, piezoelectric ceramics, magnetic ceramics and others (e.g., fast ion conductor ceramics, electro-optical ceramics). No other electroceramic types are considered within the scope of this report.
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Electroceramic materials include titanate, zirconia, alumina and other (e.g., silica only used in electroceramics applications, niobate, carbide, oxide of other elements).
Electroceramic applications include capacitors, data storage, optoelectronic devices, actuators and sensors, power distribution and others (e.g., energy storage, energy conversion, ultrasonic equipment). No other applications of electroceramics are considered in this study.
End users for electroceramics include semiconductors and electronics, power distribution, transportation, aerospace and defense, environment monitoring and others (e.g., manufacturing, heavy engineering, medical, chemical). No other end users are considered within the scope of this report.
Estimated values used are based on manufacturers’ total revenues. Metric tons are used as base units for calculating volume metrics. One metric ton is equivalent to 1,000 kilograms.
- An overview of the global market for electroceramics technologies.
A growing geriatric population base, coupled with increasing prevalence of target diseases pertaining to cardiovascular, audiology and urology systems and requirement for continuous monitoring, are the most significant growth drivers of the disposable medical sensors market. In addition, growing usage rates of insulin and infusion pumps due to large prevalence levels of diabetes and other chronic diseases is expected to drive market growth further. The healthcare industry is rapidly moving towards miniaturization of equipment and use of nanotechnology for diagnostics and treatment; moreover, in keeping with this trend, manufacturers are focusing on producing MEMS (MicroElectroMechanical Systems). Growing demand for minimally invasive surgeries and the presence of high unmet medical needs in emerging Latin American and Asia-Pacific economies are responsible for the growth of the market and also present significant opportunities for the disposable sensors.
The global electroceramic market was valued at $8.3 billion in 2016, and it is expected to increase to $11.5 billion in 2022, growing at a CAGR of 5.5% from 2017 through 2022. In terms of volume, this market was valued at 49,902.2 metric tons in 2016, and it is expected to increase to 67,149.6 metric tons in 2022 at a CAGR of 5.0%. In this report, the global electroceramic market has been segmented by type, material, application, end user and region.
In developed countries, the electroceramic market has reached its maturity stage, whereas in the Asia- Pacific region, the market is growing at an above-average rate. Growth of electroceramic market in the Rest of the World (ROW) during the forecast period is dependent upon recovery from current financial turmoil, development of the semiconductor and electronics industry, and an increase in the demand for consumer electronic products. The greatest demand for electroceramics is currently generated from the semiconductor and electronics industry, and this trend will continue in the coming years.
Electroceramics are widely used to develop sensors, capacitors, filters, resonators and actuators, which are used as integral components in electronic products. Rising demand for consumer electronics and electronic components in the non-semiconductor industries will drive market growth. The Asia-Pacific region has strong base for semiconductor foundries, which provides a unique resource advantage for semiconductor manufacturers in this region. Electroceramic manufacturers in the Asia-Pacific region have gained a large end-user base due to deep penetration of semiconductor industries, relatively less stringent environment regulations and high demand for consumer electronics. Piezoelectric ceramics are used for developing sensors, actuators and accelerometers. Different types of piezoceramics and other ceramic-based sensors are used in the automotive industry to check tire pressure, air-fuel ratio, seat actuation and engine knocking. The growing automotive sector in the Asia-Pacific region has created a large end-user market for electroceramics.
Growing concern for environmental safety and greenhouse gas emissions has created an urgency among industries to control emission levels. Zirconia-based gas sensors are used to detect oxygen and other gas levels in the environment. Growing environmental concern and stringent regulations have positively impacted the growth of the electroceramics sensor market. These factors are expected to drive the electroceramic market toward a healthy growth rate during the forecast period.
The major players in electroceramic market include Kyocera Corporation (Japan), CoorsTek Inc. (U.S.), Murata Manufacturing Co. Ltd. (Japan), CeramTec (Germany), Morgan Advanced Materials (U.K.) and Maruwa Co. Ltd. (Japan)
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