is projected to reach $12,084.4 million by 2023. The market growth is expected to be driven by high-volume demand for these ceramics in end-use industries such as semiconductor and electronics, automotive, and medical. Furthermore, growth in these industries is likely to translate into increasing demand for ceramics into devices and components, thereby ascribing the growth of the market in the forthcoming period.
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In the following report, the electroceramics market is segmented on basis of type, material, application, and region. On the basis of type, the market is categorized into dielectric ceramics, conductive ceramics, piezoelectric ceramics, magnetic ceramics, and others (fast ion and ferroelectric ceramics). Among these, dielectric ceramics accounted for the largest market share during the historical period, owing to their adoption in consumer and industrial devices and components.
Globally, the APAC electroceramics market is expected to witness the fastest revenue growth, demonstrating a CAGR of 7.1%, during the forecast period. This is attributable to high-volume demand for these ceramics in consumer electronics and automotive manufacturing industries in the region. Furthermore, growth in other end-use industries such as medical are also expected to warrant adoption of these ceramics, thereby driving the growth of the market, during the forecast period.
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Countries such as China, Japan, India, South Korea, and Taiwan are the regional hubs for the production of different consumer electronic products. Large industrial bases for the production of information and communications technology (ICT) goods in the region, particularly in China, meet the demand for electronic products throughout the world. Furthermore, the large-scale production of ICT goods involves the production of electronic components, consumer electronics, communication equipment, and computers and peripheral equipment.
Globally, the APAC electroceramics market is expected to witness the fastest revenue growth, demonstrating a CAGR of 7.1%, during the forecast period. This is attributable to high-volume demand for these ceramics in consumer electronics and automotive manufacturing industries in the region. Furthermore, growth in other end-use industries such as medical are also expected to warrant adoption of these ceramics, thereby driving the growth of the market, during the forecast period.
Enquire Before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=electroceramics-market
Countries such as China, Japan, India, South Korea, and Taiwan are the regional hubs for the production of different consumer electronic products. Large industrial bases for the production of information and communications technology (ICT) goods in the region, particularly in China, meet the demand for electronic products throughout the world. Furthermore, the large-scale production of ICT goods involves the production of electronic components, consumer electronics, communication equipment, and computers and peripheral equipment.
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