Functional Ceramics Global Market Report 2024

The functional ceramics market has grown rapidly in recent years. It will grow from $277.24 billion in 2023 to $331.31 billion in 2024 at a compound annual growth rate (CAGR) of 19.5%. The expansion observed in the historical period can be ascribed to factors such as market demand, economic conditions, regulatory influences, efficiency in the supply chain, and the competitive landscape.

The functional ceramics market is expected to see rapid growth in the next few years. It will grow to $633.44 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%. The anticipated growth in the forecast period can be credited to opportunities for market expansion, shifting demographics, a focus on environmental sustainability, regulatory adjustments, and the formation of strategic alliances and partnerships. Key trends expected in the forecast period encompass a rising involvement in environmental monitoring, integration into wearable technology, advancements in piezoelectric ceramics, improved solutions for thermal management, and integration into aerospace and defense applications.

The anticipated surge in demand for functional ceramics is expected to be fueled by the increasing need for semiconductors in the electrical and electronic industry. Semiconductors, vital substances in electrical and electronic applications, possess specific electrical properties making them foundational for computers and various electronic devices. The distinctive structural characteristics of functional ceramics cater to diverse applications requiring specific qualities - electric, magnetic, or optical - in sectors such as automotive, marine transportation, aerospace, and electricity distribution. A notable instance is the Semiconductor Industry Association's December 2021 report, stating that global semiconductor sector sales are projected to reach $555.9 billion in 2021, marking the highest-ever annual total and a 26.2% increase. Consequently, the heightened demand for semiconductors in the electrical and electronic industry is set to drive the functional ceramics market.

The burgeoning construction industry is poised to contribute to the escalating demand for functional ceramics. The construction sector encompasses activities such as planning, designing, constructing, maintaining, and repairing buildings, infrastructure, and industrial facilities. Attic ventilation fans play a role in reducing attic temperatures and eliminating excess moisture, leading to decreased air-conditioning energy costs, extended roof covering service life, and minimized ice damming. The building industry often relies on ceramic products due to their durability, strength, and thermal insulation properties. As evidenced by data from the Office for National Statistics, the UK-based government department, total annual construction output experienced a 5.6% increase in 2022 compared to 2021. Thus, the thriving construction industry acts as a catalyst for the functional ceramics market's growth.

The functional ceramic market is witnessing a notable trend of product innovations, with major companies in the sector adopting innovative solutions to maintain their market standing. An illustrative example is TDK Corporation, a Japan-based electronics corporation, which, in September 2023, introduced the CN series of multilayer ceramic capacitors (MLCC) featuring a unique structure. This design innovation incorporates resin layers covering only one side of the board, facilitating the passage of electric current outside the layers and reducing electrical resistance. To meet market demands for high-value capacitances, TDK introduced the CNA series (automotive grade) and CNC series (commercial grade) products. These new MLCCs, available in sizes such as 3216 (3.2 x 1.6 x 1.6 mm - L x W x T) with up to 22 F and 3225 (3.2 x 2.5 x 2.5 mm - L x W x T) with up to 47 F, offer larger capacitances than standard products, contributing to a reduction in the number of parts and overall size.

Major players in the functional ceramics market are engaging in strategic partnerships and collaborations to reinforce their market positions. Strategic partnerships involve collaborative relationships between two or more organizations to achieve specific business objectives. For instance, in August 2021, Fortify, a US-based 3D printing startup, joined forces with Tethon, a US-based company specializing in ceramic 3D printed materials. This partnership aims to advance the utilization of ceramics in various additive manufacturing applications. By combining Tethon 3D's proficiency in formulating high-performance technical ceramics for 3D printers with Fortify's advanced 3D printers designed for loaded resins, the collaboration facilitates high-throughput production of heavily loaded technical ceramics for end-use part production across a broad range of industrial applications.

In January 2022, Japan Fine Ceramics Co. Ltd., a subsidiary of JGC Holdings Corporation, a Japan-based functional materials manufacturing company, acquired the ceramics business of Showa Denko Materials Co., Ltd. The acquisition, for an undisclosed amount, is expected to enhance product development feasibility in growth categories, such as semiconductors and next-generation vehicles. This collaboration leverages Showa Denko Materials Co., Ltd.'s capabilities in volume manufacturing and materials with JFC's expertise in non-oxide ceramic materials and processing. Showa Denko Materials Co., Ltd., operating in the ceramics business, including functional ceramics, is a Japan-based company.

Major companies operating in the functional ceramics market report are 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.

Asia-Pacific was the largest region in the functional ceramics market in 2023. 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. The countries covered in the functional ceramics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of functional ceramics include semiconductor ceramics, insulating ceramics, high-temperature superconducting ceramics, dielectric ceramics, piezoelectric ceramics, and other specialized types. Semiconductor ceramics, also known as ceramic semiconductors or semiconductor materials, constitute a class of ceramic materials that demonstrate semiconducting properties. These materials find applications in pottery, tiles, abrasives, sanitary ware, bricks and pipes, and various uses across medical, industrial, building and construction sectors, among others.

The functional ceramics market research report provides functional ceramics market statistics, including functional ceramics industry global market size, regional shares, competitors with functional ceramics market share, detailed functional ceramics market segments, market trends, and opportunities, and any further data you may need to thrive in the functional ceramics industry. This functional ceramics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The functional ceramics market consists of sales of optoelectronic devices, piezoelectric devices, ceramic membranes, Insulators, superconducting devices, thermal barrier coatings, and biomedical implants. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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