Electronics and Electrical Ceramics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for electronics and electrical ceramics is expected to grow at a CAGR of more than 5% globally during the forecast period.

The increasing demand from consumer appliances and the upcoming power generation projects in the Asia-Pacific region is expected to drive the market during the forecast period.

However, the higher cost compared to other materials like metals and alloys and the outbreak of coronavirus across the globe are likely to hinder the growth of the studied market.

The research and development in innovative technologies and upcoming 5G technology are likely to provide opportunities for the electronics and electrical ceramics market over the next five years.

Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China, South Korea, Japan, and India.

Key Market Trends

Consumer Appliances Application to Dominate the Market

• Consumer appliances are expected to be the major application for these ceramics. It is used in electronic substrates and spark plug insulators owing to good electric and mechanical properties and resistance to corrosion and wear through which it is anticipated to provide a boost to the market growth.
• Ceramics such as zirconate titanate is the most widely used piezoelectric advanced ceramic material. It is chemically inert, physically strong, and less expensive. It possesses a unique range of properties with greater charge sensitivity, high operating temperature, higher di-electric stability, and fine grain structure with high density.
• Gradually, these electrical components, such as sensors, antennas, capacitors, and resistors, are getting smaller and more capable. Therefore, this is a major area of development for these ceramics used in the electrical and electronics industry.
• As the electronics industry is continuously making remarkable progress and development, the demand for advanced ceramics is growing, rapidly. The production of cellular phones, portable computing devices, gaming systems and other personal electronic devices will continue to spark the demand for semiconductors, capacitors and other advanced ceramics-containing electronic components.
• All the aforementioned factors are expected to drive the electronics and electrical ceramics market during the forecast period.

Asia-Pacific Region to Dominate the Market

• The Asia-Pacific region is expected to dominate the market due to the established electrical and electronics industry in the region. Countries like China, Japan, India, South Korea, and Vietnam are the major countries that consume electronic and electrical ceramics in the region.
• China represents the world’s largest electronics production base and offers a tough competition to existing upstream producers, like South Korea, Singapore, and Taiwan. Electronic products, such as smartphones, OLED TVs, tablets, and so on, have a major share in the market.
• The electronics industry in India is one of the largest and fastest-growing industries. Due to the rising labor costs, several manufacturers are relocating from China to India to meet domestic demand. In addition to this, government initiatives, such as Digital India, are stimulating the growth in the electronics manufacturing sector of the country. The main objective of this initiative is to ensure all the government services are accessible to citizens electronically.
• Japan has one of the major electrical and electronic industry in the world and is a main competitor to the United States, in terms of semiconductor manufacturing, and is home to Sony and Toshiba, which are global leading companies in the electronics industry. According to the Japan Electronics and Information Technology Industries Association (JEITA), production of display, server, storage equipment, electro-medical equipment, and electronic measuring equipment is increasing at a steady pace.
• Such established electronics industry base is expected to contribute to the demand for electronics and electrical ceramics market during the forecast period.

Competitive Landscape

The global electronics and electrical ceramics market is partially consolidated in nature. Some of the major companies are CeramTec, MARUWA Co., Ltd., CoorsTek Inc., SAMSUNG ELECTRO-MECHANICS and TDK Electronics AG amongst others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support