Portland, OR, Nov. 23, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global electronic ceramics market generated $11.3 billion in 2019, and is estimated to generate $16.6 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, major segments, Porter’s Five Forces, and competitive landscape.
Technological advancements in the electronics, automotive, and communication systems and increase in demand from major end users drive the growth of the global electronic ceramics market. However, high investment required for fabrication and integration hinders the market growth. On the other hand, the development of new electroceramics in terms of size and operational efficiency that is beneficial for component makers would create new opportunities in the coming years.
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Covid-19 Scenario:
- Owing to disrupted supply chain with lockdown imposed by governments, there has been a shortage of raw materials. Manufacturing activities have been disrupted.
- There has been ban on import and export activities in China and the country is the major supplier of raw materials. Ban on export of raw materials caused disruption in the entire electronic ecosystem.
- The demand for electronic ceramics decreased from smartphone manufacturers as sale of smartphones declined during the lockdown due to changed customer spending habits.
- With adoption of “work from home culture” by organizations, the demand for laptops and wireless networks increased. This, in turn, resulted in rise in demand from laptop and wireless device manufacturers.
The report provides detailed segmentation of the global electronic ceramics market based on material, application, end-user, and region.
Based on material, the alumina segment accounted for the highest market share, contributing to around two-fifths of the total share in 2019, and is expected to maintain its lead position during the forecast period. Contrarily, the silica segment is estimated to witness the highest CAGR of 6.4% from 2020 to 2027.
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Based on application, the capacitors segment contributed to the highest share in 2019, holding nearly one-third of the global electronic ceramics market share in 2019, and is projected to maintain its dominance in terms of revenue during the forecast period. However, the optoelectronic devices segment is expected to manifest the largest CAGR of 6.3% from 2020 to 2027.
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2019, accounting for more than half of the total market share, and is estimated to maintain its leadership status throughout the forecast period. Moreover, this region is projected to portray the largest CAGR of 6.1% from 2020 to 2027. The report also analyzes regions such as North America, Europe, and LAMEA.
Leading players of the global electronic ceramics market analyzed in the research include American Elements, CoorsTek Inc., Compagnie de Saint-Gobain S.A., Hoganas AB, Ferro Corporation, L3Harris Technologies Inc., Ishihara Sangyo Kaisha Ltd., Noritake Co. Ltd., Merck KgA, Sensor Technology Ltd., Physik Instrumente GmbH & Co. KG., and Venator Materials Plc.
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