Market Trends of Nanoceramic Powder Industry
This section covers the major market trends shaping the Nanoceramics Powder Market according to our research experts:
Increasing Demand form Electrical and Electronics Industry
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Over the last 20 years, there has been a huge amount of study into nanoceramics that has resulted in some positive outcomes not only for academia, but industry too. As a result, these advanced materials have a wide range of uses in electronics.
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Nanoceramics possess their own chemical, physical, mechanical, and magnetic properties that differ from other materials, like metals, plastics, and conventional bulk ceramic materials. These unique and often improved properties, such as dielectricity, ferroelectricity, piezoelectricity, pyroelectricity, ferromagnetism, magnetoresistance, and superconductivity, depend on the type and amount of materials that nanoceramic is made of, as well as the raw material size.
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Nanoceramics also possess exceptional processing, mechanical, and surface characteristics, including superplasticity, machineability, bioactivity, strength, and toughness, all of which depend on the size of the particles that are used to construct them.
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Nanoceramics can greatly contribute to major advances in computing and electronics, leading to faster, smaller, and more portable systems that can manage and store larger and larger amounts of information. These continuously evolving applications include:
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Flexible, bendable, foldable, rollable, and stretchable electronics are reaching into various sectors, and are being integrated into a variety of products, including wearables, medical applications, aerospace applications, and the Internet of Things (IoT). Flexible electronics have been developed using, for example, semiconductor nanomembranes, for applications in smartphone and e-reader displays.
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Ultra-high-definition displays and televisions are now being sold, which use quantum dots to produce more vibrant colors while being more energy-efficient.
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All the aforementioned factors are likely to increase the demand for the market over the forecast period.
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North America Region to Dominate the Market
- With over 50% of the global demand, North America is the most promising market for nanoceramic powder materials, which is likely to dominate the market in the near future. This domination can be attributed to the rising demand from the electronics and medical industries in the region.
- The United States account for over 90% of the demand for nanoceramic powder in this region. The country is also one of the major global markets for nanoceramic powder. Sustained demand for nanoceramics powder is witnessed here, through its robust electronics, aerospace, and defense (A&D) sectors.
- Since the use of nanoceramics powder is important in high-grade military equipment and parts of military aircraft, engines and fighter jets, the market for nanoceramic powder looks promising over the forecast period, in the region.
- Moreover, the US government has planned to reduce greenhouse gas emissions by 26-28% by 2025, and is framing various regulations and laws to achieve the target.
- Global warming and the consequences of the resultant climate changes are forcing the country to make regulations to reduce carbon emissions, thereby resulting in an increased need for infrastructure modification. This target is, in turn, expected to spur the demand for nanoceramic powder coatings for upcoming building structures over the forecast period.
- Overall, with the consistent growth in United States and Canada, the demand for nanoceramics powder is expected to increase at a faster pace in the overall region, in the coming years. The huge growth of North America is quite instrumental in the expansion of the global nanoceramics powder market.
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