7% growth for monolithic ceramics market by 2024, global revenue to reach $30bn

The monolithic ceramics market is set to grow from its current market value of more than $17 billion to over $30 billion by 2024.

The monolithic ceramics market is set to grow from its current market value of more than $17 billion to over $30 billion by 2024; as reported in the latest study by Global Market Insights, Inc.

Thriving worldwide electronics industry will be over USD 2.8 trillion by 2024 and will be a key driver for monolithic ceramics market in the near future. In 2016, the worldwide mobile phone user penetration was about 62% of global population which will reach more than 70% by 2024. The upsurge will be attributed to easy availability of smartphones at a wide range of prices along with the growing popularity of gadgets including notebooks, laptops, etc. These trends present brighter growth opportunities for the monolithic ceramics market throughout the forecast years.

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Rising inclination in medical sector towards usage of advanced ceramics will also drive monolithic ceramics market development in the coming years. The growth will be mainly attributed to the product characteristics such as abrasion resistance, sterilization stability, bio-inertness, non-magnetizability etc. Increasing investments in medical sector will also positively influence product market growth. For instance, in 2024, the global medical expenses per capita will surpass USD 1,650, rising from USD 1,000 in 2016

Subject to its desirable mechanical, chemical, and physical properties, the usage of monolithic ceramics in the automotive industry has increased considerably. As per the estimates, automotive sector is foreseen to cover one tenth of the overall monolithic ceramics industry share by 2024. Advanced ceramic materials are incorporated into automotive designs, as certain demanding conditions require a material that is reliable and robust. Advancements in car & aerospace manufacturing technology have generated higher complexity in the automobile parts.

High thermal strength and resistance to corrosion of monolithic ceramics have significantly increased the product demand in manufacturing of gas turbine components and high temperature heat exchangers within the power generation application. In 2016, monolithic ceramics industry generated over USD 2.5 billion from the power generation application and is likely to grow at significant pace over the coming seven years.

Reportedly, the electrical and electronics sector led the application landscape of monolithic ceramics market in 2016 and is expected to maintain an annual growth rate of 7.5% over 2017-2024. Owing to its unique physical and mechanical properties, monolithic ceramics are widely used in semiconductors. Rising global demand for electronic devices such as mobile phones and laptops has been testified as an instrumental factor propelling monolithic ceramics market growth over the coming years.

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Asia Pacific accounted for the largest share in monolithic ceramics industry and will follow the similar trend by 2024. The market development will be mainly contributed to healthy gains in regional electrical & electronics, automobile and medical sectors. The region will witness revenue above USD 10 billion by 2024, with CAGR gains of around 8%. Oxides product segment will lead Latin American monolithic ceramics industry by 2024. This region will gain by a CAGR of over 6% product market throughout the forecast years.

Key industry participants in monolithic ceramics market consist of CoorsTek, Advanced Ceramics Manufacturing, Ceradyne, Morgan, Corning, CeramTec, Elan Technology, KYOCERA, Saint-Gobain Ceramic Materials, Pingxiang Yingchao Chemical Packing Company, McDanel Advanced Ceramic Technologies, Rauschert, Pingxiang NANXIANG Chemical Packing, Pingxiang Xingfeng Chemical Packing, and Murata Manufacturing.

Glimpse of Table of Content (ToC)

Chapter 3. Monolithic Ceramics Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. High growth in the Asia Pacific electronics industry
3.4.1.2. Rising demand for ceramics in medical applications
3.4.2. Industry pitfalls & challenges
3.4.2.1. High production cost of monolithic ceramics
3.5. Growth potential analysis
3.6. Technology trends
3.7. Regulatory trends
3.7.1. U.S.
3.7.2. Europe
3.7.3. China
3.8. Porter’s analysis
3.9. Company market share analysis, 2016
3.9.1. Strategic landscape
3.10. PESTEL analysis
3.11. Regional price trends
3.11.1. Cost structure analysis
3.11.2. Raw material trends
Chapter 4. Monolithic Ceramics Market, By Product
4.1. Global monolithic ceramics market share by process, 2016 & 2024
4.2. Oxides
4.2.1. Market estimates and forecasts, 2013 - 2024
4.2.2. Market estimates and forecasts by region, 2013 – 2024
4.3. Non-oxides
4.3.1. Market estimates and forecasts, 2013 - 2024
4.3.2. Market estimates and forecasts by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/monolithic-ceramics-market

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