Rapid growth in healthcare sector of North America driven by increasing R&D activities in order to develop robust diagnostic and treatment systems for treatment of chronic diseases is contributing towards growth of electronic ceramics market in coming years. In medical imaging devices such as MRI and CT scanning equipment, the product is used as filaments and high voltage insulators. It is also used as components of anode, cathode & vacuum tubes in x-ray machines and various other medical analytical equipment.
In 2015, healthcare spending in North America was USD 3.3 trillion and will likely reach USD 4 trillion by 2020. U.S. almost spend 16.9% of its GDP on healthcare sector, which is the highest in the world. Aging population will increase by 8% and will reach 604 million by 2020, which will subsequently boost healthcare sector propelling the product demand over the forecast timespan.
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Dynamic growth in telecommunication sector will be an instrumental factor for the electronic ceramics market growth in near future. The product is widely used as semiconductors, superconductors, and capacitors in various telecommunication devices. It is also used in antennas of cellphones as it can be easily laser trimmed to give optimal frequency response.
Asia Pacific is biggest consumer base for the telecommunication industry. There were almost 2.7 million mobile subscribers in 2016 which is two third of the total population in the region. India alone has attracted the FDI inflow of USD 30 billion from 200 to 2017 for telecommunication industry growth. Increasing real income along with initiatives taken by government of emerging economies to boost domestic manufacturing will bolster the electronic ceramics market demand in coming years.
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On the basis of product ferroelectric ceramics will exhibit an annual growth rate of about 3% from 2018 to 2025. Ferroelectric materials are used in capacitors that have application in manufacturing RAM. These are used for storing data which can easily be read by applying electric field. Besides this, it is also used in camera flashes. Soaring demand of cellphones and personal computers will result in the product market growth over the forecast time period.
The product is used as circuit carriers, core materials, substrates, sensors, actuators in various home appliances. Increasing population along with improving standard of living will escalate the demand of home appliance & consumer electronics in coming years. These trends will catapult the electronic ceramics market in coming years.
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North America holds about 20% of the global electronic ceramics market. This is due the prevalence of all end-user sectors including healthcare, automotive & transportation, home appliances, and consumer electronics. Initiatives taken by new administration in the region to boost domestic manufacturing will augment the product demand in near future.
Key major players in electronic ceramics market are CeramTech Holdings Gmbh, Maruwa Co.Ltd., APC International Ltd., Central Electronics Limited, Kyocera Corporation, Morgan Advanced Materials, Sparkler Ceramics Pvt. Ltd, Sensor Technology Ltd., Murata Manufacturing Co.Ltd., Vinayak Techno Ceramics and PI Ceramics.
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