In terms of value, the ceramic substrates market is estimated to grow from USD 7.6 billion in 2023 to USD 10.3 billion by 2028, at a CAGR of 6.2%. The ceramic substrate market is poised for growth due to the rising demand for advanced architecture and the miniaturization of electronic devices. Additionally, the preference for ceramic substrates over traditional metal ones is on the rise. Nevertheless, the market faces challenges such as fluctuations in raw material prices. On a positive note, the increasing demand for nanotechnology and high-performance computing systems presents lucrative opportunities for this industry.
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Ceramic Substrates Companies
Growing demand for water borne chemistry and eco-friendly products is leading the ceramic substrates market. In contrast, the market growth is being constrained by the volatile price fluctuations of essential raw materials utilized in the formulation of coating additives introduce uncertainty for industry stakeholders. Additionally, the endeavor to adhere to specific standards concerning chemical compositions and environmental impact poses a significant challenge that reverberates throughout the entire sector.
The key players in this market are key market players profiled in the report include KYOCERA Corporation (Japan), Murata Manufacturing Co., Ltd. (Japan), CoorsTek Inc. (US), CeramTec GmbH (Germany), MARUWA Co., Ltd. (Japan), KOA Corporation (Japan), Yokowo Co., Ltd. (Japan), TONG HSING ELECTRONIC Industries,LTD. (Taiwan), LEATEC Fine Ceramics Co,.Ltd. (Taiwan), and NIKKO COMPANY (Japan). These companies are known for developing a wide variety of ceramic substrates used in several industrial applications. To address the rising demand for ceramic substrates across a range of applications, players in the ceramic substrates market are primarily focusing on new product launches and acquisitions. Companies may improve their product range and better address the unique needs of consumers by launching new products.
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The new product launches between 2018 and 2023 have had a substantial influence on the expansion of the ceramic substrates market. Different businesses have used various approaches to strengthen their positions in the ceramic substrates market. For instance, KYOCERA Corporation, Murata Manufacturing Co., Ltd. and MARUWA Co., Ltd. primarily focus on the Asian area, whereas CoorsTek Inc. has a major concentration on the Americas. In essence, these five businesses have solidified their presence in their different home regions and are looking for ways to diversify geographically in order to grow their company operations. Additionally, during the past few years, all five companies have been committed to strengthening their product portfolios and market presence through strategic alliances.
Kyocera is one of the major players in the ceramic substrate market. In order to widen their product portfolio, as part of its product launch strategy, the company Kyocera introduced a novel ceramic material, AH100A Alumina, in February 2020. This innovative material is designed to excel in high-voltage electrical insulation performance, offering advantages like faster conditioning, increased resistance to creeping and breakdown voltages, and the potential for reducing size and weight. AH100A Alumina finds applications in various scientific instruments, including SEM and TEM microscopes, mass spectrometers, X-ray, CT, and MRI systems, as well as particle accelerators and electron beam positioning equipment. It caters to the needs of high-voltage equipment or components operating within the 5kV to 1MV power range. This strategic product launch positions Kyocera to meet the growing demands for enhanced electrical insulation in high-voltage applications.
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Murata Manufacturing Co., Ltd. is strategically targeting the components industry, with a specific focus on serving the communication market, electric vehicles, V2X technology, and the automation of automobiles. The company notes a significant rise in the use of multilayer ceramic capacitors in mobile phones and hybrid/electric vehicles. The company currently claim a 40% market share in the multilayer ceramic capacitor segment and are committed to meeting customer demands by harnessing technology to create smaller yet higher-capacity components. In 2023, Its subsidiary, Murata Electronics (Thailand), Ltd., finalized the construction of a new production facility initiated in July 2021. This development positions them to fulfill the anticipated growth in multilayer ceramic capacitor demand over the medium to long term. The company's core business strategy revolves around fortifying its global presence by producing high-performance, cost-efficient, and energy-efficient materials for the electronics market. Its primary emphasis is on developing innovative electronic components, which consequently drives the demand for ceramic substrates.
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