September 18, 2017
WELLESLEY, Mass., Sept. 18, 2017 – Growth in the semiconductor and electronics industries is expected to help boost the global market for electroceramics, which should reach $11.5 billion at a 5.5% CAGR through 2022. Rising demand for consumer electronics and electronic components in the non-semiconductor industries will drive market growth, according to a new report by BCC Research.
Electroceramics are ceramic materials with electronic, optical or electro-magnetic properties; they are found in storage devices, sensors, transducers and actuators. Electroceramics are finding use in an increasing number of applications, with volume expected to rise from 49,902.2 metric tons to 67,149.6 metric tons in 2016 and 2022, respectively, at a CAGR of 5.0%, according to the report Electroceramics: Technologies and Global Markets.
The chief materials for electroceramics include titanate, zirconia and alumina. Titanate is a base material in piezoelectric ceramics, while alumina is used to develop metrology components, actuators, semiconductor cores and substrates. In 2016, the global electroceramic market was valued at $8.3 billion.
“In last 20 years, China has become one of the largest producers and consumers of electroceramics due to its large consumer base, massive technology advancement and low-cost resource advantage,” said Kevin Fitzgerald, editorial director at BCC Research. “During the forecast period, however, the emergence of the U.S. economy might create growth opportunities for different verticals.”
Market Growth Limited by Saturation and Raw Material Costs
In developed regions like the U.S., Japan and parts of Europe, the market is challenged by saturation, a lack of product innovation, a rising cost for raw materials and the presence of less-expensive Asian imports. The market is also fragmented, with no single dominating manufacturer—meaning small-scale supplies with small product lines have difficulty meeting buyer needs. Opportunities are largely found through acquisition of competitors, product innovation and regional expansion.
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Electroceramics: Technologies and Global Markets( AVM150A )
Publish Date: Sep 2017
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