Electronic Ceramics Market Size is expected to reach $16.6 billion by 2027, registering a CAGR of 5.1% from 2019 to 2027

According to a new report published by Report Ocean, titled, "Electronic Ceramics Market by Material, Application, and End User: Opportunity Analysis and Industry Forecast, 2020-2027," the global electronic ceramics market was valued at $11.3 billion in 2019, and is expected to reach $16.6 billion by 2027, registering a CAGR of 5.1% from 2019 to 2027.

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Electronic ceramics (electroceramics) form the fundamental of modern electronics, due to their unmatchable range of magnetic, electrical, and optical properties. The unique properties of an electroceramic can be formulated and tailored for development of new electronic components. Electroceramics have found vast applications, ranging from sensing of chemical, force, and humidity to various capacitors, and micromechanical systems. The use of electroceramics enables miniaturization and packaging of electronics systems and devices. They reduce the size of the electronic system, thereby decreasing the overall weight. The major end users of electroceramics include electronics, automobile, medical, and aerospace & defense. For instance, in the electronic segment, the consumption of smartphones has increased the demand for electroceramics. MLCCs, sensors, and actuators are used in consumer electronics, automotive, telecommunication, and power sectors. The fabrication of electroceramics requires high investments as well as huge energy uptake. The sintering of electroceramics is the critical step in the production of electroceramic components and requires high temperature. Furthermore, forward integration of electroceramics is capital-intensive and research-oriented, making the market is consolidated. Thus, high costs acts as limiting factor of the electronic ceramics market.

The global electronic ceramics market exhibits high growth potential. This is attributed to the fact that electroceramics are irreplaceable part of any modern electronic systems. New technologies such as IoT, 5G network, self-driving cars, smart cities, and augmented reality (AR) are some of the major consumers of electroceramics-based components. As these technologies penetrate the market, the demand for new electroceramics is expected to escalate significantly. For instance, the infrastructure required for 5G is different from that of 4G due to the difference in operating frequencies, hence, new infrastructures has been developed, which will replace old systems. Solid-state battery based on electroceramics has been developed. Such batteries have massive potential in the electric vehicle (EV) market, due to their high current density and leakage proof. Ceramic solid-state batteries do not contain liquid electrolyte, thus eliminates the risk of leakage or explosion.

The global electronic ceramic market is segment into material, application, end user, and region. On the basis of material, the market is fragmented into alumina, zirconia, silica, and others. The alumina segment was the highest contributor to the market, accounting for 40.5% of the total electronic ceramics market share. It is estimated to grow at a CAGR of 5.6% during the forecast period. This is attributed to the fact that alumina is the material of choice for most thick-film and thin-film ceramic substrates and are used in hybrid electronic circuits. Depending on the application, the market is segregated into capacitors, data storage devices, optoelectronic devices, actuators & sensors, power distribution devices, and others. The capacitors segment led the market, accounting for 30.3% of total share, and is estimated to grow at a CAGR of 5.7% during the forecast period. Capacitors, majorly MLCCs have found applications in every industrial vertical such as consumer electronics, military, aerospace, and industrial telecommunication systems. By end user, the market is differentiated into electronics, automobile, medical, aerospace & defense, and others. The electronics segment was the largest contributor to the market, accounting for 32.9% of the total share, and is estimated to grow at a CAGR of 4.2% during the forecast period.

Region wise, the electronic ceramics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the largest market share in 2019, and is estimated to register the highest CAGR of 6.1%. This is attributed to high consumer presence in countries such as India, China, Japan, and Taiwan and the presence of well-established electronic manufacturing base.

Key Findings Of The Study

The electronic ceramics market is projected to grow at a CAGR of nearly 5.1%, in terms of revenue, during the forecast period.
Asia-Pacific dominated the electronic ceramics market with a revenue share of over 51.5% in 2019, and is estimated to register the highest CAGR of 6.1%.
Impact Of Covid-19 On The Global Electronic Ceramics Market

The COVID-19 pandemic disrupted the electronics industry and the entire supply chain, creating shortage of raw material supply.
China is a key region for the electronics industry, owing to the presence of almost all the major electronic OEMs and contract manufacturers. The abrupt shutdown of operations due to lockdown hampered the entire electronics ecosystem.
The pandemic negatively affected the consumer spending patterns., which resulted in decline in demand for consumer electronic.
The pandemic severely impacted smartphones sales in the first quarter of 2020. Top smartphone players such as Apple and Samsung recorded a decline in sales.
In addition, spending on essential products such as food and medicine has increased, whereas demand for nonessentials such as electronics has decreased.
Lockdown and travel restrictions forced companies to issue work-from-home (WFH) directives. This increased the demand for wireless networks and consumer electronics such as smartphones and laptops.

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This release was published on openPR.