October 05, 2023 11:20 ET | Source: Straits Research Straits Research
New York, United States, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Electronic ceramics, often known as electro ceramics, constitute a subclass of advanced ceramic materials. Electro ceramics are accessible in numerous forms, including dielectrics, piezoelectric, semiconductors, and superconductors. “The global electronic ceramics market size is projected to reach USD 18,582 million growing at a CAGR of 5.4% during the forecast period”, states Seema, Research Manager at Straits Research P. Ltd. Speaker Front Cover
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Key Drivers Power electronics are utilized in virtually all current systems due to their high efficiency and operational versatility. Increasing global electricity consumption is pushing the construction of new power plants and necessitating the expansion of transmission and distribution networks. Moreover, power electronics have multiple uses in electric motors, converters for wind turbines and solar farms, propulsion systems for rail, shipping, heavy equipment, semiconductor elements, and solar inverters. FRAMs are projected to be in high demand during the forecast period due to their no volatility and low power consumption compared to conventional memory storage devices. Moreover, the increase in smartphone sales is a significant driver boosting the global market for electronic ceramics.
The growth of wireless technology across various industry verticals and the adoption of 5G technologies drive wireless solution manufacturers toward more significant reduction and integration. Implementing multi-carrier 4G technologies leveraging more than 65 3GPP frequency bands is forcing manufacturers of wireless solutions to improve performance and reduce device size, specifically for these devices' RFFE (Radio Frequency Front-End). 5G infrastructure differs from 4G infrastructure due to the shift in operating frequencies. Antennas, microwave circuits, sensors, noise suppression filters, and circuit board substrates made from advanced ceramic materials are utilized for 5G technology. Therefore, expanding the market for electronic ceramics.
Growth Opportunities The solid-state battery's electrolyte is comprised of garnet. These batteries offer a tremendous market potential for electric vehicles (EVs). Additionally, the battery pack lacks a cooling system, reducing its complexity. Solid-state ceramic battery technology possesses all the benefits of multilayer ceramic capacitors (MLCC). The absence of liquid electrolytes in ceramic solid-state batteries avoids the possibility of leakage or ignition. One rechargeable solid-state ceramic battery can power the RTC for one to four weeks before recharging. Therefore, technological progress is anticipated to raise the demand for MLCCs during the forecast period.
Regional Insights The Asia Pacific will command the market with the largest share while growing at a CAGR of 6.4%. Chinese business Huawei has submitted the majority of patent applications connected to 5G. Three state-backed operators, China Mobile, China Telecom, and China Unicom, launched 5G services in 2019 in key Chinese cities. In addition, Tesla plans to construct a design center in China that will concentrate on creating innovative EV concepts. Both projects are essential investments in Asia since they will assist the firm in expanding its global influence. It now has the largest network of electric vehicle (EV) charging stations, with 1.2 million charge points, and this number is increasing annually. As more consumers opt for 5G networks, 5G infrastructure based on electronic ceramics becomes necessary.
North America will be growing at a CAGR of 5.2% during the forecast period. The region's country, the United States, is one of the most important markets for electronics and semiconductors, accounting for the vast majority of market revenue. Moreover, the United States has a higher rate of smartphone owners than most other nations. Certain cities in the United States have already deployed the 5G network, and the network's coverage area is continuously expanding.
Competitive Players in the Market
Global Electronic Ceramics Market: Segmentation By Material
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