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Electrical And Electronics Ceramics Market Growth Rate, Segmentation, Top Players, Key Drivers And Forecast To 2033
Electrical And Electronics Ceramics Market Analysis
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the electrical and electronics ceramics industry. This report on electrical and electronics ceramics market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The electrical and electronics ceramics market size has grown strongly in recent years. It will grow from $12.42 billion in 2023 to $13.27 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to electronics miniaturization, increased demand for high-temperature stability, semiconductor industry growth, demand for capacitors and resistors, electronics manufacturing expansion, and increased demand for energy efficiency in electronics.
The electrical and electronics ceramics market size is expected to see strong growth in the next few years. It will grow to $17.34 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to emerging market expansion, regulatory compliance and safety standards, research and development in ceramics, electric vehicle (EV) growth, and increasing adoption of internet of things (IoT) devices. Major trends in the forecast period include introduction of advanced semiconductor materials, technological advancements in ceramics, sustainable and eco-friendly ceramics, integration of ceramics in renewable energy, and advanced packaging technologies.
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Key Market Players:
CeramTec GmbH, CoorsTek Inc., Kyocera Corporation, Mantec Technical Ceramics Ltd., Morgan Advanced Materials PLC, NGK Spark Plug Co. Ltd. are prominent players in the electrical and electronics ceramics industry.
Market Drivers:
According to the Electrical And Electronics Ceramics Market Report 2024 by The Business Research Company, The growing semiconductor and electronics industry is expected to propel the growth of the electrical and electronics ceramics market going forward. Semiconductors are referred to as materials with a resistance that falls between conductors and insulators. These are widely used in the electronics industry and in electronic devices such as diodes, transistors, and integrated circuits. Electrical ceramics, also known as piezoelectric ceramics, are gaining popularity in consumer electronics due to their ease of fabrication in a wide range of forms and sizes, which adds greatly to the miniaturization of electro-mechanical characteristics. For instance, in January 2023, according to the annual financial report 2022 published by LG, a South Korea-based consumer electronics company, in 2022, LG earned its highest annual revenue ever, an increase of 12.9% from 2021. The revenue for the LG Home Appliance & Air Solution Company in 2022 was $22.5 billion, an increase of 10.3% from 2021. Therefore, the growing semiconductor and electronics industries are anticipated to propel electrical and electronics ceramics market growth in the near future.
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Market segments for electrical and electronics ceramics include:
1) By Product: Monolithic Ceramics, Ceramics Matrix Composites, Ceramics Coatings, Other Products
2) By Material: Alumina Ceramics, Titanate Ceramics, Zirconia Ceramics, Silica Ceramics, Other Materials
3) By End-User: Home Appliances, Power Grids, Medical Devices, Mobile Phones, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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