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Mar 14, 2024

Functional Ceramics Global Market Report 2023

Major players in the functional ceramics market are Morgan Advanced Materials, Kyocera Corporation, AGC Ceramics Co Ltd, 3M Company, Dyson Technical Ceramics Limited, NGK Spark Plug Co.Ltd, Mc Danel

Major players in the functional ceramics market are Morgan Advanced Materials, Kyocera Corporation, AGC Ceramics Co Ltd, 3M Company, Dyson Technical Ceramics Limited, NGK Spark Plug Co.Ltd, Mc Danel Advanced Ceramic Technologies, Coors Tek Inc, Rauschert Steinbach Gmbh, Murata Manufacturing Co.

New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Functional Ceramics Global Market Report 2023" - https://www.reportlinker.com/p06486655/?utm_source=GNW Ltd, Semco Ceramics Inc, TDK Electronics AG, Taiyo Yuden Co. Ltd., KEMET Corporation, Vishay Intertechnology Inc., and Texas Instruments.The global functional ceramics market is expected to grow from $231.54 billion in 2022 to $277.24 billion in 2023 at a compound annual growth rate (CAGR) of 19.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The functional ceramics market is expected to reach $539.87 billion in 2027 at a CAGR of 18.1%.The functional ceramics market consists of sales of optoelectronic devices, piezoelectric devices, ceramic membranes, Insulators, superconducting devices, thermal barrier coatings, and biomedical implants.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Functional ceramics refer to ceramic materials with specific properties and functionalities beyond their traditional structural characteristics. These ceramics are engineered to possess unique electrical, magnetic, optical, thermal, or chemical properties, making them suitable for various electrical applications.Asia-Pacific was the largest region in the functional ceramics market in 2022.North America is expected to be the fastest-growing region in the forecast period.The regions covered in functional ceramics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of functional ceramics are semiconductor ceramics, insulating ceramics, high-temperature superconducting ceramics, dielectric ceramics, piezoelectric ceramics, and others.Semiconductor ceramics, or semiconductor materials or ceramic semiconductors, refers to a class of ceramic materials exhibiting semiconducting properties.The applications involved are pottery, tiles, abrasives, sanitary wave, bricks and pipes, and others used by medical, industrial, building and construction, and others.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 over the $440.4 billion total in 2020. Therefore, increasing demand for semiconductors in the electrical and electronic industry will drive the functional ceramics market.Technology innovations are a key trend gaining popularity in the functional ceramic market.Major companies operating in the functional ceramics market are adopting new technologies to sustain their position in the market.For instance, in September 2020, TDK Corporation, a Japan-based electronics corporation, introduced new multilayer ceramic capacitors (MLCC) for automotive applications.These MLCCs with increased capacitance enable higher energy storage in a smaller form factor, which is beneficial for automotive electronic systems that require compact and high-performance components.The capacitors achieve capacitance values of 22 F in the 2012 size (2.0 x 1.25 x 1.25 mm) and 47 F in the 3216 size (3.2 x 1.6 x 1.6 mm), among the highest in the world.In January 2022, Japan Fine Ceramics Co. Ltd., a subsidiary of JGC Holdings Corporation, a Japan-based functional materials manufacturing company, acquired Showa Denko Materials Co., Ltd.’s ceramics business for an undisclosed amount. This acquisition would increase the feasibility of product development in growth categories (such as semiconductors and next-generation vehicles) by combining SDMC’s competence in volume manufacturing and materials with JFC’s expertise in non-oxide ceramic materials and processing. Showa Denko Materials Co., Ltd is a Japan-based company operating in the ceramics business, including functional ceramics.The countries covered in the functional ceramics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The functional ceramics market research report is one of a series of new reports that provides functional ceramics market statistics, including functional ceramics industry global market size, regional shares, competitors with functional ceramics market share, detailed functional ceramics market segments, market trends, and opportunities, and any further data you may need to thrive in the functional ceramics industry. This functional ceramics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06486655/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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