Market Trends of Advanced Structural Ceramics Industry
This section covers the major market trends shaping the Advanced Structural Ceramics Market according to our research experts:
The Electrical and Electronics Industry to Dominate the Demand
- Advanced structural ceramics, owing to their properties, such as high hardness, high compressive strength, high elastic modulus, low thermal expansion, and low density, are used in the electrical and electronics industry.
- Additionally, due to their high electrical resistance and high dielectric strength, advanced structural ceramics are used in electronic and electrical appliances.
- They have special advantages of lightweight, can withstand very high temperatures, and aggressive environments compared to metals used electronic industry.
- The electronics manufacturing market in Asia-Pacific is expected to grow rapidly during the coming years, due to the presence of a large number of OEMs in the region. Low cost and the availability of raw materials, coupled with cheap labor, are driving the growth of the sector.
- The companies in the region provide manufacturing and assembling services to companies in Germany, France, and the United States. Moreover, these companies are rapidly digitizing their business to achieve end-to-end integration of their operation. This is further encouraging the OEMs from Europe and North America to outsource their production to Asia-Pacific.
- Therefore, the demand for advanced structural ceramics is expected to grow during the forecast period.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to account for the largest market for advanced structural ceramics over the forecast period.
- China has the world's largest electronics production base. Electronic products recorded the highest growth in the electronics segment. The country serves not only domestic demand for electronics but also exports electronic output to other countries.
- The medical sector in India is benefiting from an increasing population, which is growing at a rate of 1.6%. Additionally, government initiatives in medical equipment and healthcare facilities are driving the Indian advanced structural ceramics market.
- The Government of India started initiatives to decrease the import and increase the local production of medical devices, particularly higher-end products.
- The Japanese electrical and electronics industry is one of the world's leading industries. Consumer electronics account for a third of Japan's economic output. There has been a constant increase in the demand for Japanese consumer electronics, due to their durability and quality.
- Hence, with such trends, the demand for advanced structural ceramics in countries of the Asia-Pacific region is expected to grow during the forecast period.
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