The Functional Ceramics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Functional Ceramics Global Market Report 2024, The functional ceramics market size 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 growth in the historic period can be attributed to market demand, economic factors, regulatory environment, supply chain efficiency, competitive landscape..
The functional ceramics market size 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 growth in the forecast period can be attributed to market expansion opportunities, changing demographics, environmental sustainability, regulatory changes, strategic alliances and partnerships.. Major trends in the forecast period include increasing role in environmental monitoring, incorporation in wearable technology, development of piezoelectric ceramics, enhanced thermal management solutions, integration in aerospace and defense applications..
The increasing demand for semiconductors in the electrical and electronic industry is expected to propel the demand for functional ceramics going forward. A semiconductor is a substance used in electrical and electronic applications with specific electrical properties that allow it to be utilized as the base for computers and other electronic devices. The structural features of functional ceramics are developed for unique applications requiring different qualities, such as electric, magnetic, or optical, to be used in automotive, marine transportation, aerospace, and electricity distribution. For instance, in December 2021, according to Semiconductor Industry Association, a US-based trade association and lobbying group, points that worldwide semiconductor sector sales will amount to $555.9 billion in 2021, the highest-ever yearly total and a 26.2% rise. Therefore, increasing demand for semiconductors in the electrical and electronic industry will drive the functional ceramics market.
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The functional ceramics market covered in this report is segmented –
1) By Type: Semiconductor Ceramics, Insulating Ceramics, High-temperature Superconducting Ceramic, Dielectric Ceramics, Piezoelectric Ceramics, Other Types
2) By Application: Pottery, Tiles, Abrasives, Sanitary Wave, Bricks And Pipes, Other Applications
3) By End User: Medical, Industrial, Building And Construction, Other End Users
Top Major Players:
Morgan Advanced Materials
Kyocera Corporation
AGC Ceramics Co Ltd.
3M Company
Dyson Technical Ceramics Limited
Asia-Pacific was the largest region in the functional ceramics market in 2023.
Product innovations are a key trend gaining popularity in the functional ceramic market. Major companies operating in the functional ceramics market are adopting new innovative solutions to sustain their position in the market. For instance, in September 2023, TDK Corporation, a Japan-based electronics corporation, launched CN series of multilayer ceramic capacitors (MLCC) with unique structure. The unique features CN series of multilayer ceramic capacitors involves the new design includes resin layers that cover only one side of the board, allowing electric current to pass outside the layers and lowering electrical resistance. The addition of CNA series (automotive grade) and CNC series (commercial grade) products satisfies market demands for high-value capacitances. The new MLCCs have up to 22 F in 3216 size (3.2 1.6 1.6 mm – L x W x T) and 47 F in 3225 size (3.2 2.5 2.5 mm – L x W x T), which translates to larger capacitances than standard products and helps minimize the number of parts and size.
The functional ceramics market report table of contents includes:
1. Executive Summary
2. Functional Ceramics Market Characteristics
3. Functional Ceramics Market Trends And Strategies
4. Functional Ceramics Market – Macro Economic Scenario
5. Global Functional Ceramics Market Size and Growth
…
31. Global Functional Ceramics Market Competitive Benchmarking
32. Global Functional Ceramics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Functional Ceramics Market
34.Functional Ceramics Market Future Outlook and Potential Analysis
35. Appendix
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