Press release
Emerging Trends to Drive Functional Ceramics Market Growth at 16.7% CAGR Through 2029
Functional Ceramics Market
Functional Ceramics Market Size Growth Forecast: What to Expect by 2025?
In recent years, the market size for functional ceramics has seen tremendous growth. It is projected that this market will expand from $326.3 billion in 2024 to $381.28 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 16.8%. Factors such as market demand, economic conditions, regulations, supply chain effectiveness, and competition have contributed to the growth observed in the historical period.
How Will the Functional Ceramics Market Size Evolve and Grow by 2029?
The market size of functional ceramics is projected to experience a swift expansion in the coming years. The anticipated growth to $708.05 billion by 2029 represents a compound annual growth rate (CAGR) of 16.7%. This growth during the forecasted duration can be linked to evolving market opportunities, demographic shifts, green sustainability, regulatory alterations, and strategic collaborations and partnerships. The forecast period is expected to witness major trends such as the amplified importance in environmental surveillance, adoption in wearable technology, advancements in piezoelectric ceramics, improved thermal management solutions, and incorporation in aerospace and defence applications.
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What Drivers Are Propelling the Growth of Functional Ceramics Market Forward?
The escalation in the need for semiconductors in the electrical and electronics sector is projected to boost the functional ceramics market in the future. Semiconductors are materials utilized in electrical and electronic operations, possessing specific electrical attributes, which enable their use as the main component in computers and additional electronic devices. Functional ceramics are engineered with structural characteristics tailored to distinct applications which demand various qualities such as electrical, magnetic, or optical. These ceramics are therefore applied in areas including automotive, marine transportation, aerospace, and electricity distribution. For instance, global semiconductor sector sales ascended to $149.9 billion in the second quarter of 2024, marking an 18.3% elevation compared to the corresponding period the previous year and a 6.5% surge from the first quarter of 2024, as released by the US-based non-profit organization, the Semiconductor Industry Association, in August 2024. Moreover, the sales in June 2024 amounted to $50.0 billion, marking an increase of 1.7% from $49.1 billion in May 2024. Thus, the mounting demand for semiconductors in the electrical and electronics industry will catalyze the growth of the functional ceramics market.
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What Are the Key Trends Driving Functional Ceramics Market Growth?
The functional ceramics market is seeing a rising trend of product innovations. To remain competitive, leading companies in this market are employing novel solutions. A demonstration of this was when TDK Corporation, an electronics company based in Japan, introduced a CN series of multilayer ceramic capacitors (MLCC) with a unique design in September 2023. These capacitors have unique features such as resin layers covering only one side of the board which allows electric current to bypass the layers, thus reducing electrical resistance. The launching of CNA series (automotive grade) and CNC series (commercial grade) products cater to the market's need for high-value capacitances. These MLCCs offer 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). This means they provide greater capacitances than standard products, thereby reducing the number of parts and size.
What Are the Key Segments in the Functional Ceramics Market?
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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Who Are the Key Players Shaping the Functional Ceramics Market's Competitive 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.
What Geographic Markets Are Powering 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
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