“The global advanced ceramics market is anticipated to surpass USD 170 billion by 2030 while growing at a lucrative CAGR of 8.9% during the forecast period from 2020 to 2030”, says Visiongain
08 January 2020
Visiongain’s new report Advanced Ceramics Market Report 2020-2030: Forecasts by Material (Alumina, Ferrite, Titanate, Zirconate, Other Materials), Product (Monolithic ceramics, Ceramic coatings, Ceramic matrix composites), Application (Bioceramics, Catalyst supports, Electronic devices, Electrical equipment, Engine parts, Filters, Wear parts, Others), End Use (Automotive, Electrical & electronics, Environmental, Machinery, Medical, Others), and by region and analysis of leading companies operating in this industry.
The global advanced ceramics market is anticipated to surpass USD 170 billion by 2030 while growing at a lucrative CAGR of 8.9% during the forecast period from 2020 to 2030.
The global advanced ceramics market is growing on account of its usage in numerous healthcare applications, including biomedical plants, bone implants and dental. They are used in dental applications where ceramic teeth can be matched to the natural teeth of a patient. Also, growing demand from the automotive industry is anticipated to have fuel advanced ceramics market growth.
In the year 2018, the electrical & electronics segment dominated the advanced ceramics market growth. Advanced ceramics are used in the manufacturing of electrical equipment such as conductors, insulators, cables, insulated wires, PCBs, battery cases, and membrane switches among others. Some of the characteristics of advanced ceramics that make it suitable for electrical and electronic applications are lightweight characteristics, fire resistance, easy formability, high-temperature stability, and high electrical properties.
The environmental segment is projected to witness the highest CAGR over the forecast period. Advanced ceramics can withstand temperatures over 1000°C. As a result, they are used in solar energy conversion and photovoltaics among others. These are also highly resistant to corrosive attacks & thermal shocks due to which they are used in technologies such as water treatment & storage.
In the medical sector, advanced ceramics are commonly used. One of the major factors driving this market is the extensive use of cardiovascular implants, dental implants, orthopedic implants, and medical imaging equipment. Also, it is projected that increasing incidence rates of dental, cardiac, and orthopedic diseases, along with the growing aging population, would fuel market growth.
In the year 2018, Asia Pacific dominated the global advanced ceramics market owing to the growing automotive and electrical and electronics industries, particularly in China and India, the region is expected to continue its dominance over the forecast period. Due to the significant consumption of consumer electronic devices, Asia Pacific has been a prominent contributor in the electronics industry, particularly in emerging markets in China, India, and Thailand.
Due to rising healthcare awareness and increasing the electronics industry in the region, North America is expected to see significant growth in the industry. North American electronics sector is relatively mature, but advanced ceramics adoption is set to increase owing to the growing penetration of smart electronic devices in homes & commercial offices in the region.
Central and South American advanced ceramics market is anticipated to witness modest market growth. The growing automotive industry is expected to have a positive impact on the industry over the forecast period, particularly in Brazil, Chile, & Argentina.
Some of the key Advanced Ceramics market players include Advanced Ceramic Manufacturing, LLC, Blasch Precision Ceramics Inc., Ceradyne Inc., Ceramtec GmbH, COI Ceramics Inc., Coorstek Inc., Elan Technology, H.C. Starck GmbH, International Ceramic Engineering (ICE), Kyocera Corporation, Kyocera Industrial Ceramics Corporation, McDanel Advanced Ceramic Technologies, Morgan Advanced Materials PLC, Murata Manufacturing Co. Ltd, Oerlikon Surface Solutions AG, Ortech Incorporated, Rauschert Steinbach GmbH, Saint-Gobain Ceramic Materials, Vesuvius PLC, among other prominent players.
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