Posted On: 2022-09-06
“Electronics & semiconductor acquired the largest market revenue share among the vertical, by End User Industry in the overall China Technical Ceramics Market – 6Wresearch
China technical ceramics market is anticipated to witness moderate growth during the forecast period, on the back of government initiatives such as $150 bn for domestic semiconductor production by 2030. In 2020, the outburst of coronavirus adversely affected the growth of the China technical ceramics market and the demand for technical ceramics plunged owing to government imposed nation-wide lockdown in addition to disruption in global supply chain that led to the halt in operations of electrical & semiconductor industry, which is one of the prominent end use industry. In 2020, net market capitalization of electrical & semiconductor industry accounted for $130 in China. Semiconductor industry of China is being fueled by its 2030 plans to propel solar and wind capacity to generate 1,200 GW of power, to achieve the target, China’s rising investments ~$300bn into the energy sector. Rising investments is an indication of a policy shift and is a by-product of China’s 2060 Net Zero carbon emission target to bring green power to China’s megacities which would boost industries like electrical & semiconductor and allied industries
According to 6Wresearch, China Technical Ceramic Market size is projected to grow at a CAGR of 4.3% during 2022-2028. Accredited to a swiftly growing military and defense sector as well as a robust healthcare sector in China boosted by COVID-19, the demand for technical ceramics in China would increase over the projected years. In the healthcare segment, the domestic medical device market grew from around 20% to around 30% in 2010-2020, fueling the growth of the Chinese technical ceramics market.
According to Navneet Agarwal, Manager, 6Wresearch, “By Material types, Oxide ceramics accounts for the highest market revenue share in the China technical ceramics market in 2021, and this trend is expected to continue over the next few years. This is due to oxide ceramics being used to make equipment such as sleeves for pipes and electrical cables, high-temperature shielding, belts, blankets, gaskets, and other similar items for various industries.
According to Shivankar Guha, Research Analyst, 6Wresearch, “Ceramics matrix composites has exhibited highest growth rate among all the segments on the back of expanding aerospace, energy and healthcare industries of China”, Technical ceramics is a raw material in the production of various subsegments of energy equipment, such as power distribution components, electrical power components, structural energy components and power generation. There is therefore a direct correlation between the energy sector and the technical ceramics market of China. During the forecast period owing to China’s net zero goal for 2060 the energy sector of the country is expected to undergo transformation which would increase the demand for different energy equipment and hence is expected to contribute positively to the growth of the ceramic market.
China Technical Ceramics Market (2022-2028)” report provides an in-depth analysis with 22 figures and 4 tables, covered in 71 pages. The report estimates and forecast the overall China technical ceramics market. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.