Ceramic Substrates Market on growth track to 2024 says new report

Asia Pacific Ceramic Substrates Market is likely to grow at a significant growth rate on account of increasing disposable income of consumers and rising demand for technologically advanced consumer electronics in countries including China, India, Japan, Indonesia and South Korea. Factors such as rapid development of end-user industries, competitive manufacturing cost and high economic growth shall fuel ceramic substrates market size growth over the forecast duration. The ceramic substrate market growth in China was remarkable and is likely to experience additional growth over a forecast timespan due to increasing product manufacturing facilities and high raw material supply in China.

Global Ceramic Substrates Market size is likely to grow with prominent CAGR during the forecast timespan. Ceramic substrate is an electronic sheet material, made by hot pressing or tape casting technology for thick electronic film and board in which electronic ceramic is used as a substrate. Continuous advancement in ceramic substrates industry has augmented its superior properties such as high corrosion, high wear resistance, electrical conductivity and longer life.

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The ceramic substrates market is mainly driven due to properties such as corrosion-resistance, high temperature stability, low thermal expansion, lightweight and a variety of electrical properties ranging from semiconductor to highly conductive material. Owing to these traits, ceramic substrates are used in wide range of industries, such as automotive, consumer electronics, telecom, industrial and military & avionics. The growth of the ceramic substrate market is attributed to the increasing use of it as an alternative to metals and alloy.

The increasing demand for compact microelectronic packaging solutions was another significant factor which drove the growth of the ceramic substrate market in past few years. The high procurement and raw material costs are likely to affect ceramic substrate market size negatively in the coming years. In addition, issues of recyclability and reliability of ceramic materials coupled with high price of ceramic substrates compared to metals and alloys may hamper the ceramic substrates market growth during the forecast timeframe.

Based on product type, ceramic substrates market is divided into five segments; alumina, aluminum nitrate, silicon nitride, beryllium oxide and others. Among which alumina segment led the ceramic substrate market in 2017 owing to its suitability in numerous application areas along with its low cost compared to other ceramic substrates.

Based on end-user industry, the ceramic substrates market has been classified into automotive, consumer electronics, industrial, telecom, military & avionics, space & satellite and medical. The automotive segment is projected to grow at highest CAGR during forecast period 2018-2024.

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Electronic components in automobiles such as oxygen sensors, valve components, electronic substrates & displays, spark plugs, converters and filters, heat sinks and resistor cores contain several ceramic parts. Excellent mechanical and dimensional stability, high reliability and thermal conductivity makes it suitable product for automotive industry. In 2017, consumer electronics industry was the largest end user segment in global ceramic substrates market. Ceramic substrates offer superior chemical and thermal properties which have led to its acceptance in various applications in electronics industry such as home appliances, mobile phones and other consumer electronics.

Prominent players operating in ceramic substrate market are KYOCERA Corporation, Murata Manufacturing Co. Ltd., Coors Tek Inc., Ceram Tec., MARUWA Co. Ltd., Tong Hsing Electronics Industries Ltd., LEATEC Fine Ceramics Co., Ltd., Nikko Company, KOA-An S Corporation, yokowo co. ltd., Eti, SST Sensing Ltd. company, Nippon Carbide Industries Co., Inc., NGK Spark Plug Group and ENrG Inc.

The global ceramic substrate market was highly fragmented in 2017 with the presence of many players across different regions. These players have adopted organic as well as inorganic growth strategies such as expansion agreements, new product launches, merger & acquisition, joint ventures and partnership to strengthen their position in the market. Entry barriers in the industry are very high as it needs high investment for manufacturing plant and for research and development activities, due to ongoing modifications and developments in ceramic substrates production technologies.

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