Electronic Ceramics Market Projected to Exceed $14 Billion by 2026, Says Global Market Insights Inc.

The augmenting demand for consumer electronics in the Asia-Pacific will bolster the electronic ceramics market's growth.

News provided by

Global Market Insights Inc.

Oct 06, 2020, 05:00 ET

SELBYVILLE, Del., Oct. 6, 2020 /PRNewswire/ -- Based on Global Market Insights Inc.'s report, the global Electronic Ceramics Market was estimated at $11.99 billion in 2019 and is slated to surpass $14 billion by 2026, registering a CAGR of 3.8% from 2020 to 2026. The report provides an in-depth analysis of the key investment avenues, drivers and opportunities, key winning strategies, wavering industry trends, competitive scenarios, and market estimations as well as size.

Around 60% of the world's population resides in the Asia-Pacific, including the two most populated countries, China and India. A large consumer base, increasing per capita income, and a surge in consumer electronics demand in the region will propel the usage of electronic ceramics. China is the largest market for consumer electronics, and it is reported that around one-third of the global consumer electronics sales occur in the country.

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The presence of lead in electronic ceramics and poor disposal in soil & environmental systems affect the cognitive functions of grazing animals. This can also wipe out populations of bacteria and fungi on leaf surfaces and in soil. The COVID-19 outbreak has created havoc across the world and has significantly disrupted the supply chain and production facilities due to lockdown measures, ban on transportation, and limited workforce.

The pyroelectric ceramics segment exhibited around a 3% CAGR in electronic ceramics market share. It is widely used in burglar alarms and pollution control and infrared and thermal imaging devices. The reduction of greenhouse gases and pollution has become an increasing concern across the world, propelling the need for electronic ceramics in pollution control devices.

The healthcare end-user segment will witness around a 3% CAGR in the electronic ceramics market size. Electronic ceramics are widely employed in advanced medical implants due to their superior heat resistance, biocompatibility, and chemical inertness. Electroceramics, such as lead zirconate titanate (PZT), are also used in a wide range of medical implantable components, such as piezoceramic actuators, ultrasonic generators, micropumps, and valves, for precision metering.

Some major findings of the electronic ceramics market report include:

The piezoelectric product segment dominated the market, owing to its widespread usage in automotive & consumer electronics.
In 2019, the home appliance & consumer electronics end-user segment witnessed a principal market share due to the rising purchase of home appliances.
The Asia-Pacific is the largest market for electronic ceramics on account of the strong telecommunication and home appliance sectors in the region.
Capacity expansions, acquisitions, and joint ventures are some of the key strategies adopted by electronic ceramics companies

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The North American electronic ceramics market generated over USD 1.5 billion in 2019. The U.S. spent over USD 3.5 trillion in its healthcare sector and is estimated to reach USD 4 trillion by 2020. Electronic ceramics are a vital material in medical devices and equipment. Additionally, the region has one of the most modern and advanced aerospace and defense sectors, which promulgates the use of electronic ceramics in this sector.

Some of the key electronic ceramics industry participants include Morgan Advanced Materials, Central Electronics Limited, Murata Manufacturing Co., Sensor Technology, and Sparkler Ceramics Pvt. Ltd. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.

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About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision-making.

GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.

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Global Market Insights, Inc.

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SOURCE Global Market Insights Inc.