Report : Asia Pacific Alumina Ceramics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Application (Electronics and Semiconductors, Energy and Power, Military and Defense, Automotive, Industrial, Medical, and Others)
According to a new market research study on “Asia- Pacific Alumina Ceramics Market Forecast to 2027 – COVID-19 Impact and Analysis – By Application (Electronics and Semiconductors, Energy and Power, Military and Defense, Automotive, Industrial, Medical, and Others),” is expected to reach US$ 2459.01 million by 2027 from US$ 1897.53 million in 2019 and is expected to grow at a CAGR of 3.8% from 2020 to 2027. The report provides trends prevailing in the Asia- Pacific Alumina Ceramics Market and the drivers and restraints pertaining to the market growth. Growing demand for alumina ceramic in automotive and medical industries is the primary factor driving the Asia- Pacific Alumina Ceramics Market. However, a higher cost of alumina ceramic as compared to metal and other alloys counterparts is expected to hinder the market growth in the Asia- Pacific. Besides, COVID-19 has affected economies and industries in various countries due to travel bans, lockdowns, and business shutdowns. The COVID-19 is anticipated to cause a loss of more than 3 Billion in the Asia Pacific region. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of Asia Pacific is taking possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market. The Government have asked the chemicals & materials manufacturers to delay their production which will adversely affect the worldwide supply of alumina ceramics.
Based on application, the alumina ceramics market is categorized into electronics and semiconductors, energy and power, military and defence, automotive, industrial, medical, and others. In 2019, the electronics and semiconductors segment dominated the Asia- Pacific Alumina Ceramics Market. The use of aluminium ceramics in the electronics and semiconductors for interconnectors, resistors, and capacitors favours this segment's growth. Packaging materials need to have strong light-shield properties to ensure the visibility of the digital display. The use of ceramics decreases the effective weight of assembled electronics, fueling the market for alumina ceramics in the electronics and semiconductors industries.
BMW Steels Ltd., Ceramtec, Ferrotec Holdings Corporation, Kyocera Corporation, Morgan Advanced Materials, Saint Gobain S.A., and Xiamen Innovacera Advanced Materials Co., Ltd are few of the companies amongst the major players operating in Alumina Ceramic Market. These companies provide a wide range of product portfolio for the alumina ceramic market. These companies have their presence in the developing regions, which provides a lucrative opportunity for alumina ceramic products. These market players are highly focused on developing high quality and innovative products to fulfil the customer’s requirements. The companies have realized the immense potential of alumina ceramic and were observed highly involved in mergers and acquisitions, product news, and market initiatives. For example, in 2019, Kyocera Corporation and Ube Industries, Ltd, the two companies have signed a joint venture contract to manufacture ceramic filters for 5G base stations.
The Report Segments The Asia- Pacific Alumina Ceramics Market As Follows:
Asia- Pacific Alumina Ceramics Market, by Application
- Electronics and Semiconductors
- Energy and Power
- Military and Defense
Asia- Pacific Alumina Ceramics Market, by Country
- South Korea
- Rest of APAC
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