Monolithic Ceramics Market Size

Monolithic Ceramics Market Size

Monolithic Ceramics Market size was estimated at over USD 17 billion in 2016 and the industry will grow by a CAGR of around 7% up to 2024.
 

Rising worldwide electronic device demand will drive the global monolithic ceramics market during the forecast spell due to its extensive application in the manufacturing of capacitors for devices such as laptops, phones, televisions, cameras, etc. On an average, more than 700 monolithic ceramic capacitors are used in a notebook device, while around 230 are used in a mobile phone. The global electronics industry has been witnessing a robust growth and will be valued at more than USD 3 trillion in 2024. Global mobile phone shipment is likely to rise from 1,400 million units in 2016 to around 2,500 million units by 2024 This growth has been fueled by the rising popularity of smartphones and other devices such as laptops, notebooks, etc. and will augment the monolithic ceramics market during the forecast spell.
 

Asia Pacific has turned into a hotbed for the electronics industry with high production as well as demand for these devices. Rising per capita income and a steady GDP growth in this region has resulted in a robust demand for smartphones and laptops which will propel the global monolithic ceramics market growth till 2024. Asia pacific smartphone user penetration as percentage of total population will increase from around 30% in 2016 to more than 50% in 2024, while the number of mobile phone users is likely to rise from 2.6 billion to 3.1 billion in the same period. North American and European electronic manufacturers are also increasingly outsourcing their production activities to Asia Pacific owing to low labor and raw material cost. This will drive the product demand for the electronics industry in Asia Pacific and will contribute to the global monolithic ceramics market growth during the forecast timespan.
 

High energy costs associated with the manufacturing process of these ceramics may hamper the monolithic ceramics market. The product is manufactured in a controlled environment which requires a very high temperature resulting in increased energy consumption. The processing cost is also higher due to the time-consuming nature of the manufacturing process. This increases the cost of the product and makes it difficult for manufactures to attain competitive pricing in the market. This may restrain the entry of new players in the industry and will hinder the product market growth during the forecast spell.