New York, USA, Jan. 04, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global technical ceramics market is envisioned to garner a revenue of $12,300.1 million and grow at a CAGR of 6.8% over the analysis period.
As per our analysts, due to the high performance and superior properties of technical ceramics, the market is predicted to see significant growth over the forecast period. Besides, the use of technical ceramics as electric insulators because of which they possess high dielectric permittivity is the factor expected to bolster the growth of the technical ceramics market during the forecast period. Moreover, the resourceful applications of technical ceramics such as space exploration, supercomputers, and many more, are projected to fortify the growth of the market over the forecast period. However, the high customization requirements from end-use industries may impede the growth of the market throughout the estimated timeframe.
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Covid-19 Impact on the Technical Ceramics Market
With the rise of the Covid-19 pandemic, likewise other industries, the technical ceramics market has had a negative impact. Due to the growing concern for the health and safety of the people, many industries have imposed prolonged shutdowns. Further, the straight decline in the demand for technical ceramics from the electronics and automotive sectors has caused the downfall of the growth of the market. In addition, the disruption in the supply chain has caused the gap in the demand and supply which has acted as a major reason for the decline of the market during the period of the pandemic.
Check out How COVID-19 impacts the Global Technical Ceramics Market: https://www.researchdive.com/connect-to-analyst/21
Segments of the Technical Ceramics Market
The report has been divided the technical ceramics market into different segments based on material, product, end-use industry, and region.
Material: Oxide Sub-Segment to be Most Profitable
The oxide sub-segment is predicted to generate a revenue of $6,186.3 million over the analysis timeframe. This is mainly because oxide ceramics have high chemical resistance, high temperature withstanding capacity, and many more beneficial properties. In addition, the increasing use of beryllium oxide ceramics for high-frequency transistor packaging and high-power microwave packaging due to their enhanced insulation properties is predicted to fuel the growth of the technical ceramics market sub-segment throughout the analysis period.
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Product: Monolithic Ceramics Sub-Segment to be Most Lucrative
The monolithic ceramics sub-segment is expected to garner a revenue of $6,329.3 million during the forecast timeframe. This is mainly due to the beneficial properties of monolithic ceramics such as reliability, durability, resistance to high temperature. Further, the increasing use of monolithic ceramics in a wide range of applications in various sectors such as power and defense industries, automotive, and many others, is expected to boost the growth of the technical ceramics market sub-segment during the analysis period.
End-Use Industry: Electronics & Semiconductor Sub-Segment to be Most Productive
The electronics & semiconductor sub-segment is predicted to generate a revenue of $4,784.3 million over the forecast period. This is mainly because technical ceramics are widely used in various electronics and electrical applications. Furthermore, the growing use of technical ceramics in this segment for circulating coolants or as an insulator to act as a shield from electromagnetic radiation is expected to foster the growth of the technical ceramics market sub-segment over the analysis timeframe.
Region: Asia-Pacific Region Anticipated to Have Wide Growth Opportunities
The Asia-Pacific region is predicted to grow at a CAGR of 7.4% over the analysis timeframe. This is mainly because of the strong presence of large technical ceramic manufacturing companies in this region. Furthermore, increasing global supply chains and endless demand for electronics in this region are predicted to drive the regional growth of the market throughout the estimated time period.
Key Players of the Technical Ceramics Market
1. CoorsTek, Inc.
2. CeramTec GmbH
3. Kyocera Corporation
4. Morgan Advanced Materials
5. Saint-Gobain Ceramics & Plastics, Inc.
6. NGK Spark Plug Co., Ltd.
7. Mcdanel Advanced Ceramic Technologies LLC
8. Rauschert GmbH
9. Superior Technical Ceramics
10. 3M
These players are working on the development of new business strategies and tactics to obtain leading positions in the global industry.
Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With The Impact of COVID-19: https://www.researchdive.com/covid-19-insights
For instance, Fortify Software, a leading California-based software security vendor has announced its collaboration with Tethon 3D, a renowned provider of innovative materials for ceramic 3D additive manufacturing. With this acquisition, the companies are aiming to provide a broad range of industrial applications and the other projects provided with government agencies all across the US.
Further, the report also presents other crucial aspects such as SWOT analysis, the financial performance of the key players, product portfolio, and the latest strategic developments. Click Here To Get Absolute Top Companies Development Strategies Summary Report
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