Global Market for Ceramic Tubes to Near $1 Billion by 2022
Rapid growth in the electronic and electrical manufacturing sector in Asia-Pacific is expected to drive the ceramic tube market.
The ceramic tube market is projected to reach $993.3 million by 2022, growing at a compound annual growth rate (CAGR) of 7.5% from 2017-2022, according to a report available from Research and Markets. Ceramic tubes are mainly used as an enveloping material in electronic and electrical equipment, such as vacuum interrupters, power grid tubes, capacitors, and thermocouple insulators. Ceramic tubes also find application in X-ray tubes used in X-ray machines and CT scan machines.
The growth of the ceramic tube market can be attributed to increased investments in the construction of new electrical transmission and distribution networks in developing countries, and the maintenance of aging power transmission infrastructure in developed countries. The electronic and electrical segment is estimated to be the fastest-growing segment of the ceramic tube market, by application, during the forecast period.
Rapid growth in the electronic and electrical manufacturing sector in Asia-Pacific is expected to drive the ceramic tube market. The governments of countries such as India and China are investing heavily in the construction of new power transmission and distribution networks to support their growing manufacturing sectors.
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