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Global Electroceramics Market Set to Generate $12,084.4 Million Revenue by 2023

03-27-2020 07:15 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

Global Electroceramics Market Set to Generate $12,084.4

The global electroceramics market generated revenue of $8,590.9 million in 2017 and is expected to attain $12,084.4 million by 2023, exhibiting a CAGR of 5.9% during the forecast period (2018-2023). The major factors contributing toward the swift upswing of the market are the increasing demand for electroceramics in the manufacturing of electronic, aerospace, and automotive components, medical sensors and implants, and several other devices.Electroceramics are ceramic materials which perform different functions, on account of their electrical,magnetic and optical characteristics and high mechanical, thermal, and chemical stability.

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The surge in the demand for such materials, primarily due to the growth of the electronics and semiconductor industry, isa major factor propelling the advance of the electroceramics market. Electroceramics are commonly used in the manufacturing of various electronic and semiconductor devices, such as capacitors, power distribution devices, and actuators and sensors. They are being increasingly preferred on account of their capability to optimize the space and size constraints in the final products and maintain their economic viability and technological feasibility.

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Electroceramics Market Competitive Landscape

Some of the major players operating in the global electroceramics market are Kyocera Corporation, CoorsTek Inc., CeramTec GmbH, Morgan Advanced Materials plc, Maruwa Co. Ltd., APC International Ltd., PI Ceramic GmbH, Sensor Technology Limited, Murata Manufacturing Co. Ltd., and Central Electronics Limited.

In recent years, the electroceramics market activities have been directed toward expansion of existing facilities, acquisitions, and product launches in the market. For instance, in March 2017, CeramTec GmbH announced the acquisition of the U.K.-based electroceramics business of Morgan Advanced Materials plc for a value of $60.2 million. The acquisition is aimed to assist CeramTec in expansion of its product portfolio by gaining technological capabilities for the production of piezoelectric and dielectric ceramics.

GLOBAL ELECTROCERAMICS MARKET SEGMENTATION

By Type

Dielectric Ceramics
Conductive Ceramics
Piezoelectric Ceramics
Magnetic Ceramics
Others
By Material

Titanate
Zirconate
Alumina
Others
By Application

Capacitors
Data Storage Devices
Optoelectronic Devices
Actuators and Sensors
Power Distribution Devices
Others

Contact:
P&S Intelligence
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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