Electroceramics Market Emerging Trend, Advancement, Growth Drivers and Business Opportunities

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.

Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/electroceramics-market/report-sample

Apart from the automobile and semiconductor and electronics industries, an abundant quantity of ceramics is also being used in the medical devices sector. Medical device manufacturers deploy electroceramics in sensors, feedthroughs, cochlear implants, and femoral heads. Besides, these materials also have the potential to replace the traditionally used metal-based products due to their excellent wear-resistant characteristics, ability to exhibit inertness, exceptional comprehensive strength, and capability to remain stable at high temperatures. Thus, the escalating need for medical devices, owing to the mounting healthcare expenditure, will fuel the adoption of these materials in the upcoming 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.

Browse full report at: https://www.psmarketresearch.com/market-analysis/electroceramics-market

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.

Contact:
P&S Intelligence
Phone: +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.

This release was published on openPR.