The Advanced Ceramics Market had a valuation of USD 10.80 billion in 2022 and is anticipated to experience a significant annual revenue growth rate of 5.2% throughout the projected period. The primary drivers behind this expansion in market revenue are the increasing demand for advanced ceramics within the medical sector and the growing utilization of advanced ceramics in the defense industry.
Advanced ceramics offer several advantages in the medical field, including inertness, non-toxicity, hardness, a low friction coefficient, high compressive strength, resistance to wear and chemicals, sterility, durability, and other valuable properties. Additionally, ceramic coatings are explored when there is a need for enhanced mechanical strength and toughness in the substrate.
Bio ceramics, a subset of ceramics, find applications within the human body, mainly in medical implants. They are employed as bulk components, coatings, or fillers, further underscoring their significance in the medical field.
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Top Lading Players: Saint-Gobain Ceramic Materials, Asahi Glass Co., Corning Inc., Advanced Ceramic Manufacturing, LLC., Kyocera Corporation., Coorstek Inc., Ceramtec GmbH, Morgan Advanced Materials PLC, Morimura Group, Rauschert Steinbach GmbH
Some Key Highlights from the Report:
- Advanced ceramics are primarily used in the manufacturing of electronic and electrical equipment owing to their substantial electrical conductivity and high acid resistance. Increasing demand for consumer electronics, particularly in APAC countries such as China and India, is presumed to impact positively on industry growth over the forecast period.
- Titanite market of the material segment is valued at USD 21.32 billion in 2020 and is estimated to reach USD 42.81 billion by 2028, at a CAGR of 8.64%. Titanite or aluminum titanite possesses the most active thermal shock resistance in the material segment. Product made of this material tends to endure under high temperatures of various hundred degrees.
- The bioceramics market of the application segment is valued at USD 13.10 billion in 2020 and is estimated to reach USD 26.30 billion by 2028 at a CAGR of 8.64% during the forecast period. They are inert materials and possess exceptional strength and wear resistance. Therefore, they are widely utilized in surgical implants like dental and bone. Commonly used materials in this section include aluminum oxide and zirconia oxide. These are mainly used in the manufacturing of dental and orthopedic implants.
- The environmental market of the End-use segment is projected to grow at the highest CAGR of 8.7% during the forecast period. Advanced ceramics have high resistance capability even at temperatures over 1000°C. Therefore, they are suitable for use in solar energy conversion, photovoltaics, and other power plant engine systems. Furthermore, they have excellent resistance to acid thermal shocks, attacks, and wear. Therefore, they are widely used in environmental technologies like water treatment and processing.
- North America is valued at USD 18.34 billion in 2020 and is estimated to reach USD 37.41 billion by 2028. It is expected to grow at a CAGR of 8.8% during the forecast period due to increasing healthcare awareness and expanding electronics industry in the region. Although the electronics sector in North America is relatively developed, product adoption for several electronic applications is set to grow owing to increasing penetration of smart offices and smart homes in the region.
- The market players are primarily focused on developing new technologies to meet the requirements of users. Various companies are also involved in numerous merger & acquisitions as their essential strategy is to maintain sufficient market share. These factors are expected to have a positive impact on industry growth over the next few years.
Segments covered in the report:
By Material Outlook:
- Alumina
- Titanate
- Zirconate
- Ferrite
- Aluminum nitride
- Silicon carbide
- Silicon nitride
By Product Outlook:
- Monolithic
- Ceramic coatings
- Ceramic matrix composites
By Application Outlook:
- Electrical equipment
- Catalyst supports
- Electronic devices
- Wear parts
- Engine parts
- Filters
- Bioceramic
- Others
By End-Use Outlook:
- Electrical & electronics
- Automotive
- Machinery
- Environmental
- Medical
- Others
Regional scope:
North America; Europe; Asia Pacific; Latin America ; Middle East & Africa
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Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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