As per the latest research conducted by Global Market Insights Inc., the electronic ceramics market size is anticipated to exceed USD 20 billion by 2032.
To secure a strong industry foothold, several players in the electronic ceramics market are focusing on the initiatives like mergers, acquisitions, and product development. In addition, many companies are formulating expansion strategies for gaining a robust competitive edge.
The units are aimed at doubling the production capacity of the campus for fine ceramic components utilized in semiconductor manufacturing equipment. This is expected to help in securing space for other manufacturing operations considering the expansion of Kyocera’s business.
Morgan Advanced Materials, Maruwa Co., Ltd., Sparkler Ceramics Pvt. Ltd., Murata Manufacturing Co., Ltd., APC International, Ltd., Sensor Technology Ltd., and others are some of the major players in the industry.
Given below are a few key factors that are expected to impel the global industry landscape:
1# Rising product launches in the automotive sector
Several companies are building manufacturing capacities for the production of various types of ceramic coatings. Considering instance, in January 2022, Advanced Nanotech Lab announced the private label manufacturing of 10H Ceramic Coating, 9H Ceramic Coating, and some hybrid variants.
The solutions would be utilized in the automotive refinishing industry for enhancing the exterior appearance of luxury vehicles.
2# Increasing number of research studies
The industry has recorded an upsurge in the development of various strategies. Citing an example, in May 2022, a research team from Penn State and Michigan Technological University developed a new design strategy for the creation of ultra-high operation piezoelectric ceramics, which opened doors to more beneficial uses for these materials.
This is because, for several years, piezoelectric polycrystalline ceramics depict limited piezoelectric response as compared to single crystals. These aspects are expected to drive electronic ceramics market share over 2023-2032.
3# Escalating finance initiatives in Europe
The European region has recorded an increase in funding initiatives. Quoting an instance, in July 2021, the German Federal Ministry of Education and Research announced its plans for providing funds of 12.7 million euros to the “SAPHIR” innovation concept. The capital was set for R&D use by partners for advancing the development of applications and materials in the field of technical ceramics.
The coming years are expected to record an increase in the deployment of various thermal imaging and pollution control devices. This is because the solutions help in the generation of voltage upon cooling or heating. The market is anticipated to register an upsurge in the development of various advanced electronic equipment for a range of end-user industries. These aspects are slated to drive the electronic ceramics industry growth over the forecast period.