The report "Ceramic Substrates Market by Product Type (Alumina, Aluminum Nitride, Silicon Nitride, Beryllium oxide), End-use Industry (Consumer Electronics, Automotive, Telecom, Industrial, Military & Avionics), and Region - Global Forecast to 2022", The ceramic substrates market is projected to grow from USD 6.35 Billion in 2017 to USD 8.68 Billion by 2022, at a CAGR of 6.44% during the forecast period. The growth of this market is mainly driven by increased demand for ceramic substrates in various end-use industries owing to their superior properties, such as high wear resistance, longer life, and excellent thermal management.
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The aluminum nitride segment is projected to grow at the highest CAGR during the forecast period
Based on product type, the aluminum nitride segment is projected to grow at the highest CAGR from 2017 to 2022. Aluminum nitride has higher thermal and mechanical stability as compared to other substrates. The high cost of aluminum nitride substrates is, however, a major challenge faced by most of the key manufacturers. Nevertheless, its high cost makes it suitable for high-end applications, such as avionics, space, and satellite.
Consumer electronics segment accounted for the largest share of the ceramic substrates market in 2016
Based on end-use industry, the consumer electronics segment accounted for the largest share of the ceramic substrates market on account of the high demand for ceramic substrates for applications in home appliances, mobile phones, and other consumer electronics products in developing countries across the world.
Asia Pacific is projected to be the fastest-growing market for ceramic substrates
On the basis of region, the ceramic substrates market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Asia Pacific is the fastest-growing market for ceramic substrates, primarily driven by the region’s developing economies, such as China, India, and South Korea. Various economies in this region have expanded their manufacturing base, which, in turn, is expected to drive the Asia Pacific ceramic substrates market.
Key players operating in the ceramic substrates market include Kyocera(Japan), Murata Manufacturing (Japan), CoorsTek (US), Ceram Tec (Germany), Maruwa (Japan), Tong Hsing Electronic Industries (Taiwan), LEATEC Fine Ceramics (Taiwan), Nikko Company (Japan), KOA Corporation (Japan), Yokowo (Japan), NGK Spark Plug Co. (Japan), ENRG Inc. (US), Nippon Carbide Industries (Japan), Ta-I Technology Co. (Taiwan), ECOCERA Optoelectronics Ltd. (Taiwan), Toshiba Materials (Japan), ICP Technology Co. (Taiwan), Advanced Substrate Microtechnology Corporation (US), Anaren (US), and Chaozhou Three-Circle (Group) Co. (China).