Ceramic-based materials that can demonstrate favorable electrical properties are termed as electroceramics. These materials possess distinctive magnetic and optical properties that stimulate their applications in energy storage, automation, communication, and electronic devices and components. Furthermore, the integration of these ceramic materials in these devices impart chemical, mechanical, and thermal stability to these devices. Because of these reasons, the electroceramics market is expected to display a CAGR of 5.9% during 2018–2023. At this rate, the size of the market is projected to increase from $8,590.9 million in 2017 to $12,084.4 million by 2023.
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According to P&S Intelligence, the Asia-Pacific (APAC) region is expected to showcase the fast-paced consumption of electroceramics in future. This can be ascribed to the increasing consumption of these materials in manufacturing of automobile and consumer electronics in APAC nations, such as Taiwan, India, Japan, South Korea, and China, which serve as the regional hubs for the production of electronic goods. Among these countries, China generates the maximum demand for electroceramics because the country is the production hub for information and communications technology (ICT) goods that employ large quantities of capacitors and data storage devices.
Thus, the expanding electrical and electronics sector and the increasing expenditure on the healthcare sector are expected to employ high volume of electroceramics in coming years.
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Market Segmentation by Type
- Dielectric Ceramics
- Conductive Ceramics
- Piezoelectric Ceramics
- Magnetic Ceramics
Market Segmentation by Material
Market Segmentation by Application
- Data Storage Devices
- Optoelectronic Devices
- Actuators and Sensors
- Power Distribution Devices