Demand Increasing for Ceramic Substrates Worldwide
Alumina substrates are the most widely used ceramic substrates, as they meet all the requirements of insulating materials for applications in electrical and electronics engineering.
The global ceramic substrates market is estimated to be approximately $6.45 billion in 2017 and is projected to reach $8.7 billion by 2022, growing at a compound annual growth rate (CAGR) of 6.4%, according to a report available from Research and Markets. Market growth is primarily attributed to the increasing use of ceramic substrates as an alternative to metals and alloys. Rising demand for compact microelectronics packaging solutions is another significant factor driving the growth of the ceramic substrates market. However, high procurement and raw material costs are expected to negatively affect market growth.
Alumina substrates are the most widely used ceramic substrates, as they meet all the requirements of insulating materials for applications in electrical and electronics engineering. Since they are less expensive than other ceramic substrates, alumina substrates are widely used in thick and thin film applications.
On the basis of region, Asia-Pacific is projected to account for the major share of the ceramic substrates market in 2022, due to increasing consumption from various developing economies such as China, India, and South Korea. The Asia-Pacific ceramic substrates market is also projected to grow at the highest CAGR from 2017-2022.
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