Press release
Global Functional Ceramics Market Projected to Surpass $729.92 Billion by 2029 with 17% Annual Growth
Functional Ceramics Market Size
The escalating need for semiconductors in the electric and electronics sector is projected to spur the demand for functional ceramics in the future. Semiconductors, which possess specific electrical properties rendering them suitable for use as the foundation of computers and other electronic gadgets, are deployed in electrical and electronics applications. Functional ceramics are meticulously designed with structural features to cater to unique applications that require different qualities such as electrical, magnetic, or optical, and find usage in fields like automotive, marine transport, aerospace, and power distribution. For example, statistics from the Semiconductor Industry Association, a US-based non-profit, show that global sales in the semiconductor industry touched $149.9 billion in Q2 2024, indicating an 18.3% leap from the equivalent period in 2023 and a 6.5% climb from Q1 of 2024. In June 2024, the sales totaled $50.0 billion, an ascent of 1.7% from $49.1 billion in May of the same year. Consequently, the increasing demand for semiconductors in the electrical and electronic sector is expected to catalyze the functional ceramics market.
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How will the growth rate of the functional ceramics market shape industry trends by 2034?
The market size of functional ceramics has experienced swift growth in the last few years. It is projected to increase from $326.3 billion in 2024 to a promising $386.91 billion in 2025, with a compound annual growth rate (CAGR) of an impressive 18.6%. The significant rise during the historical span can be credited to factors such as market demand, economic influences, regulatory policies, supply chain competencies, and the competitive scenario.
The market size of functional ceramics is predicted to experience a swift expansion in the coming years, projected to reach "$729.92 billion by 2029, with a compound annual growth rate (CAGR) of 17.2%. Factors contributing to the projected growth during this forecast period include potential market expansion avenues, demographic shifts, focus on environmental sustainability, regulatory modifications and strategic collaborations and partnerships. Significant trends expected in the forecast period are its growing role in environmental monitoring, its usage in wearable technology, the development of piezoelectric ceramics, improved thermal management solutions, and integration into aerospace and defense sectors.
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What trends are poised to drive the future success of the functional ceramics market?
An emerging trend in the functional ceramic market centers on product innovation. To maintain a competitive edge, key players in the market, such as TDK Corporation, are turning to innovative solutions. In a recent example from September 2023, the Japan-based electronics firm introduced its CN series of multilayer ceramic capacitors (MLCC). The unique structure of these capacitors incorporates a novel design where resin layers are located on one side of the board only. This design modification allows electrical currents to pass outside, thereby reducing electrical resistance. Additional CNA series (for automotive applications) and CNC series (for commercial purposes) products cater to the market's need for high-value capacitances. These new MLCCs offer larger capacitance values up to 22 F in 3216 sizes (3.2 1.6 1.6 mm - L x W x T) and 47 F in 3225 sizes (3.2 2.5 2.5 mm - L x W x T), exceeding standard products and assisting in part and size reduction.
Which primary segments of the functional ceramics market are driving growth and industry transformations?
The functional ceramics market covered in this report is segmented -
1) By Type: Semiconductor Ceramics, Insulating Ceramics, High-temperature Superconducting Ceramic, Dielectric Ceramics, Piezoelectric Ceramics, Other Types
2) By Application: Pottery, Tiles, Abrasives, Sanitary Wave, Bricks And Pipes, Other Applications
3) By End User: Medical, Industrial, Building And Construction, Other End Users
Subsegments:
1) By Semiconductor Ceramics: Zinc Oxide (ZnO) Ceramics, Titanium Dioxide (TiO2) Ceramics, Tin Oxide (SnO2) Ceramics
2) By Insulating Ceramics: Alumina (Al2O3) Ceramics, Silicon Nitride (Si3N4) Ceramics, Zirconia (ZrO2) Ceramics
3) By High-Temperature Superconducting Ceramic: Yttrium Barium Copper Oxide (YBCO), Bismuth Strontium Calcium Copper Oxide (BSCCO)
4) By Dielectric Ceramics: Barium Titanate (BaTiO3), Strontium Titanate (SrTiO3), Lead Zirconate Titanate (PZT)
5) By Piezoelectric Ceramics: Lead Titanate (PbTiO3), Barium Titanate (BaTiO3), Potassium Sodium Niobate (KNN)
6) By Other Types: Magnetic Ceramics, Optical Ceramics, Bioceramics
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Which geographical regions are pioneering growth in the functional ceramics market?
Asia-Pacific was the largest region in the functional ceramics market in 2024.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the functional ceramics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the functional ceramics market landscape?
Major companies operating in the functional ceramics market include Morgan Advanced Materials, Kyocera Corporation, AGC Ceramics Co Ltd, 3M Company, Dyson Technical Ceramics Limited, NGK Spark Plug Co. Ltd, Mc Danel Advanced Ceramic Technologies, CoorsTek Inc, Rauschert Steinbach Gmbh, Murata Manufacturing Co. Ltd, Semco Ceramics Inc, TDK Electronics AG, Taiyo Yuden Co. Ltd., KEMET Corporation, Vishay Intertechnology Inc., Texas Instruments, Ceradyne Inc., Mantec Technical Ceramics Ltd, International Ceramic Engineering, Elan Technology, Superior Technical Ceramics, C-Mac International LLC, Advanced Ceramics Manufacturing, Precision Ceramics, Ceramaret Ltd, Ceramco Inc., LSP Industrial Ceramics Inc., Ferro-Ceramic Grinding Inc., Insaco Inc., Blasch Precision Ceramics Inc.
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What Is Covered In The Functional Ceramics Global Market Report?
• Market Size Forecast: Examine the functional ceramics market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the functional ceramics market for a structured understanding.
• Key Players Overview: Analyze major players in the functional ceramics market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the functional ceramics market.
• Segment Contributions: Evaluate how different segments drive overall growth in the functional ceramics market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the functional ceramics market.
• Industry Challenges: Identify potential risks and obstacles affecting the functional ceramics market.
• Competitive Landscape: Review strategic developments in the functional ceramics market, including expansions, agreements, and new product launches.
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