Global Monolithic Ceramics Market: Increasing Demand for Medical Devices and Equipment to Drive Growth, Reports TMR
According to a new study by Transparency Market Research (TMR), the global monolithic ceramics market is extremely fragmented and highly competitive, thanks to the presence of a large pool of players. The leading participants, such as Saint-Gobain Ceramics Materials, Kyocera Corp., Morgan Advanced Materials Plc, CeramTec GmbH, and Zircoa Inc., are continually investing in research and development of new products in a bid to gain a greater market share, notes the research study.
As per the TMR’s estimation, the global market for monolithic ceramics was worth US$19.43 bn in 2014. Rising at a CAGR of 7.30% during the period from 2015 to 2023, the opportunity in the market is likely to soar up to US$36.64 bn by the end of the forecast period.
Demand for Monolithic Ceramics to Remain High in Electrical and Electronics Sector
The durability, reliability, and the resistance to high temperature of monolithic ceramics have led it to a varied range of applications in a number of end-use industries, specifically, the automotive, electrical and electronics, medical, defense, and the power sectors. With a share of more than 50%, the electrical and electronics sector emerged as the leading contributor to this market in 2014. Thanks to the increasing usage of monolithic ceramics in the manufacturing of semiconductors, capacitors, the sector is likely to remain the leading end user of monolithic ceramics across the world in the near future, states the report.
In terms of geography, the report classifies the worldwide market for monolithic ceramics into Latin America, Europe, Asia Pacific, North America, and the Middle East and Africa. Asia Pacific has surfaced as the key regional market for monolithic ceramics and is closely followed by Europe and North America. The economic rise in various Asian countries, such as Japan, China, and India, is likely to contribute significantly to the dominance of this regional market over the next few years.
Apart from this, the rise in the automotive industry in Asia Pacific is also creating opportunities for the future growth of this regional market. North America, amongst other regional markets, is displaying great potential, with the U.S. emerging as the key domestic market for monolithic ceramics. The ongoing expansion in the power sector will drive growth in the Europe monolithic ceramics market in the years to come. Europe, on the other hand, will benefit from the increasing application scope of monolithic ceramics in various economies, such as France, the U.K., and Germany, notes the study.
Continual Expansion in Medical and Healthcare Industry to Fuel Demand
“The global market for monolithic ceramics is gaining remarkably from the continual expansion in the medical and healthcare industry,” says the author of this study. Over the coming years, the increasing demand for medical devices and equipment will boost the adoption of monolithic ceramics, which is likely to reflect greatly on this market.
On the flip side, the higher energy costs may hamper the growth of this market over the forecast period. However, the escalating penetration of various types of electrical devices, such as laptops and mobile phones will open new growth avenues for market players in the near future, states the report.
The study presented here is based on a report by Transparency Market Research (TMR), titled “Monolithic Ceramics Market (Product - Oxides and Non-oxides; Application - Electrical and Electronics, Automotive, Power, Medical, and Defense) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
This report segments the global monolithic ceramics market as follows:
- Electrical & Electronics
- Others (Including Defense, etc.)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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