Growing demand for high-performance materials along with the growing demand for energy-efficient solutions has Propelled the Growth of the Functional Ceramics Market in the APAC Region!
- Vikas Kumar
- May 15, 2023
- CHEMICAL, NEWS
- Functional Ceramics Market, Functional Ceramics Market Analysis, Functional Ceramics Market Forecast, Functional Ceramics Market Growth, Functional Ceramics Market Outlook, Functional Ceramics Market Share, Functional Ceramics Market Size, Functional Ceramics Market Trends
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APAC is one of the world’s largest and fastest-growing regions across the globe. There are various reasons for the growth of the Functional Ceramics Market to grow in the region such as increasing industrialization and modernization from industries such as electrical, electronics, medical, and others are propelling the demand in the market. Moreover, the region has the presence of major manufacturers of functional ceramics along with favorable government policies to promote and adopt the advanced technologies in the region. The region has a high demand for renewable energy including solar, wind, and others. These are used in a variety of renewable energy applications such as photovoltaic cells which are increasing the market demand.
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Further, the APAC Functional Ceramics Market is expected to grow at a skyrocketing rate of around 17% during the forecast period (2022-2028). This is mainly due to growing industrialization, rising demand for energy-efficient products such as sensors, actuators, & power generators, and many other factors that are driving the growth of the market. Moreover, increasing demand for high-performance materials with superior properties is further expected to support market growth. In addition, the growing use of functional ceramics in the healthcare industry such as medical devices, implants, and drug delivery systems further accelerates the functional ceramics market growth in the region.
APAC Functional Ceramics Market Revenue (2020-2028)- USD Mn
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- Based on product type, the market is segmented into semiconductor ceramics, insulating ceramics, high-temperature superconducting ceramics, dielectric ceramics, piezoelectric ceramics, and others. The semiconductor ceramic category is expected to grow with a significant CAGR during the forecast period. This is mainly owing to factors such as high strength, high resistance properties, high thermal and electrical conductivity, high mechanical strength, and others. Due to these properties, the need for semiconductor ceramics is highly preferred in some industries such as electrical, aerospace, energy, and automotive.
- Based on application, the functional ceramics market has been classified into electrical & electronics, transportation, chemicals, aerospace & defense, medical, and others. The electrical & electronics category is expected to grow with a significant CAGR during the forecast period. This is mainly owing to the applications of functional ceramics as insulators and substrates in electronic devices such as capacitors, inductors, and resistors, Ceramics are used as insulators due to their dielectric strength and low loss of energy that helps maintain the efficiency of electronic circuits.
Global Functional Ceramics Market Segmentation
Market Insight, by Product Type
- Semiconductor Ceramic
- Insulating Ceramics
- High-temperature Superconducting Ceramic
- Dielectric Ceramics
- Piezoelectric Ceramics
- Others
Market Insights, by Technology
- Electrical & Electronics
- Transportation
- Chemicals
- Aerospace & Defense
- Medical
- Others
Market Insight, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- APAC
- China
- India
- Rest of APAC
- Rest of the World
Top Company Profiles
- Murata Manufacturing Co., Ltd
- TDK Electronics AG
- Semco
- KYOCERA Corporation
- TAIYO YUDEN CO., LTD
- KEMET Corporation
- Vishay Intertechnology, Inc.
- YAGEO Group
- Samwha Capacitor Group
- Morgan Advanced Materials
