The size for advanced ceramics market was USD 82,972.9 million in 2020 and is estimated to reach USD 1,80,463.4 million by 2028, with a notable Compound Annual Growth Rate (CAGR) of 10.2% during the forecast period. These ceramics, often termed high-tech ceramics, technical ceramics, high-performance ceramics, or engineered ceramics, are manufactured using technologies such as hydraulic pressing, injection molding, isostatic pressing, tape casting, and pressure casting to ensure superior product quality.
Fortune Business Insights™ mentioned this in a report titled, “Advanced Ceramics Market, 2024-2028.”
Advanced ceramics offer a wide range of properties including heat, wear, temperature, and corrosion resistance, as well as food compatibility and biocompatibility. They are categorized into monolithic ceramics, ceramic matrix composites, and ceramic coatings based on their product type, with monolithic ceramics being predominant, consisting of a single chemical compound. The increasing use of ceramics in the medical and automotive sectors, as substitutes for metals and plastics, is expected to drive market growth in the foreseeable future.
However, disruptions caused by the COVID-19 pandemic have led to a decline in demand particularly in the automotive and electronic industries due to restrictions on movement and manufacturing closures. Despite this setback, initiatives by governments to normalize industrial operations are anticipated to revive the market in the coming years.
Market Trends:
A significant trend driving market growth is the increasing demand for electro ceramics, a subclass of advanced ceramics used in various applications from insulating materials to ferroelectrics. Factors such as resistance to high temperatures and pressures, compressive strength, and wear resistance properties are propelling this demand.
Another key trend is the rising adoption of advanced ceramics in automotive and medical industries. In automotive applications, ceramics are used in battery components for their thermal and electrical properties, while in the medical field, zirconia ceramics are highly preferred for their biological, physical, and aesthetic advantages.
Market Growth Factors:
The automotive and medical industries are witnessing an increasing demand for advanced ceramics, driven by their specific properties and advantages. In automotive applications, ceramics are used extensively in battery components, while in the medical sector, ceramics find use in various implant materials and artificial bones.
Restraints:
Despite their advantages, the high prices of advanced ceramics compared to metals and alloys pose a challenge to market growth. The production process, involving raw material processing, forming, sintering, diamond grinding, and inspection, contributes to these elevated costs, limiting their demand in industries such as electronics and automotive.
Information Source: https://www.fortunebusinessinsights.com/advanced-ceramics-market-105073
Market Segmentation Analysis:
Alumina constitutes the largest segment by material, owing to its availability at lower costs and high performance. Zirconia follows as the second leading segment, predominantly used in the electrical & electronics industry for its dielectric and ferroelectric properties.
End-use segmentation reveals the dominance of the electrical & electronics segment, driven by increasing technological advancements and demand for power electronics and sensors. Other significant end-use sectors include transportation, medical, and chemical industries.
Regional Analysis:
The Asia Pacific region leads the market, with China holding the highest market share due to increasing adoption of ceramics in the automotive industry. North America and Europe follow closely, with growth attributed to demand from the electrical equipment and electronic device manufacturing sectors.
Industry Developments:
Notable industry developments include acquisitions by key players and expansions of manufacturing facilities, aimed at meeting growing demand and enhancing production capacities.
Report Scope & Segmentation:
The report covers a comprehensive analysis of the market, focusing on key aspects such as companies, materials, end-uses, market trends, industry developments, and the competitive landscape.
Segmentation includes analysis by material, end-use, and geography, providing insights into market dynamics across different regions and sectors.
The market is expected to witness significant growth, driven by increasing demand from key industries and ongoing technological advancements in ceramic manufacturing processes.
List of Key Players Present in the Report:
International Syalons (UK)
KYOCERA Corporation (Japan)
S&S Advance Ceramics (India)
Advanced Ceramics Manufacturing (U.S.)
Nishimura Advanced Ceramics (Japan)
CeramTec GmbH (Germany)
CoorsTek Inc. (U.S.)
Saint-Gobain (U.S.)
Morgan Advanced Materials (UK)
Technocera (India)
Other Key Players