The electroceramics market size is expected to display a CAGR of 5.9% during 2018–2023. At this rate, the size of the market is projected to increase from $8,590.9 million in 2017 to $12,084.4 million by 2023.
The growth of the market can be attributed to the developments in the semiconductor and electronics sector. Electroceramics are used in high volume for the production of semiconductors and electronic devices, such as data storage devices, power distribution devices, capacitors, actuators, and sensors. These devices are being widely used because of their ability to optimize size and space constraints and maintain technological feasibility and economic viability in final products like smartphones, computers, laptops, and other consumer appliances.
 |
| To learn more about this report: https://bit.ly/2MT6bb6 |
The Asia-Pacific region is expected to showcase the fast-paced consumption of electroceramics in future. This can be ascribed to the increasing consumption of these materials in manufacturing of automobile and consumer electronics in APAC nations, such as Taiwan, India, Japan, South Korea, and China, which serve as the regional hubs for the production of electronic goods. Among these countries, China generates the maximum demand for electroceramics because the country is the production hub for information and communications technology (ICT) goods that employ large quantities of capacitors and data storage devices.
Thus, the expanding electrical and electronics sector and the increasing expenditure on the healthcare sector are expected to employ high volume of electroceramics in coming years.
No comments:
Post a Comment