Insights into Functional Ceramics Market: Global Trends and Analysis

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..

Market Overview -
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.

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Rising Demand For Functional Ceramics Fueled By Surging Need For Semiconductors In Electrical And Electronic Industries
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.

Competitive Landscape -
Major companies operating in the functional ceramics market report 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, CoorsTek Inc, Rauschert Steinbach Gmbh, Murata Manufacturing Co. Ltd, Semco Ceramics Inc, TDK Electronics AG, Taiyo Yuden Co. Ltd., KEMET Corporation, Vishay Intertechnology Inc., Texas Instruments, Ceradyne Inc., Mantec Technical Ceramics Ltd, International Ceramic Engineering, Elan Technology, Superior Technical Ceramics, C-Mac International LLC, Advanced Ceramics Manufacturing, Precision Ceramics, Ceramaret Ltd, Ceramco Inc., LSP Industrial Ceramics Inc., Ferro-Ceramic Grinding Inc., Insaco Inc., Blasch Precision Ceramics Inc

Innovative Technological Advancements Drive Growth In The Functional Ceramics Market
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.

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Key Segments -

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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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