New York (US), May 24, 2023 (GLOBE NEWSWIRE) -- Advanced Ceramics Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Advanced Ceramics Market Information By Material, Product, End-Use, and Region - Forecast till 2030", The advanced ceramics market will soar from USD 75.59 billion in 2023 to USD 101.09 billion by 2032, expanding at a rate of 3.70% from 2023 to 2032.
Market Scope
High-tech ceramics, technical ceramics, high-performance ceramics, and engineering ceramics are all terms used to describe advanced ceramics. Better-quality ceramic goods are made possible by the employment of technologies including hydraulic pressing, injection molding, isostatic pressing, tape casting, and pressure casting.
Ceramics have a wide range of properties, including biocompatibility and food compatibility in addition to resistance to heat, wear, temperature, and corrosion. Based on the type of product, these ceramics are additionally divided into monolithic ceramics, ceramic matrix composites, and ceramic coatings. The majority of ceramics are monolithic or made up of just one ingredient. The market will grow during the study period as a result of rising ceramics consumption in the medical sector and rising product usage as a metal and plastic replacement in the automotive sector.
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Market Competitive Landscape:
The renowned companies active in the market for advanced ceramics are
- Kyocera Corporation (Japan)
- CeramTec GmbH (Germany)
- CoorsTek Inc. (U.S.)
- Saint-Gobain Ceramic Materials (U.S.)
- Morgan Advanced Materials Plc (U.K.)
- 3M Company (U.S.)
- Rauschert Steinbach GmbH (Germany)
- Dyson Advanced Ceramics Ltd (U.K.)
- Superior Advanced Ceramics (U.S.)
- NGK Spark Plug Co. Ltd. (Japan)
- Among others.
The market is characterized by the presence of long-standing competitors, which heightens the level of rivalry. Several market participants at various stages of the value chain are observing the integration. The corporations are also implementing strategic activities like new product innovations and acquisitions to remain ahead of the competition and grow their market share.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 101.09 billion |
| CAGR | 3.70% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023–2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material, Product, End-Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | Increase in demand for the adoption of advanced ceramics in the transportation industry. |
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Market USP Covered:
Market Drivers:
Over the projected period, the worldwide advanced ceramics market can benefit from the rising prevalence in a variety of applications and the medical and telecom industries expand. The conductivity of advanced ceramic, also known as technical ceramic, is enhanced on the magnetic, optical, thermal, and electrical fronts. As a result of advanced ceramics' high efficiency for finished goods, end users have been able to cut their production and energy expenses. By consumption, the Asia Pacific is the largest global market for advanced ceramics.
New product development aids in the market's expansion. For instance, in June 2021, Starfire Systems Inc. announced the release of Hafnium Carbide (HfC), a new member of the family of silicon carbide (SiC) producing pre-ceramic polymers. Ceramic matrix composite (CMC) and high-purity powder, which are employed in automotive applications for hypersonic and re-entry vehicles, are made using HfC.
The demand for advanced ceramics to create parts and components for high-performance applications is also being fueled by the growing popularity of 3D printing. For instance, Tethon 3D and Fortify announced their collaboration in November 2021 to develop technical ceramics for 3D printing. Providing the product with new markets in the energy, medical, and aerospace sectors, such actions will support market expansion.
The widespread use of advanced ceramics in EVs is anticipated to further fuel market expansion. For instance, piezo-ceramic parts serve as sensors for electronic controllers, providing information on the activities of the engine. Electronic components with ceramic substrates that govern motor management and safety systems like ABS, ASR, and airbag release receive the data. Therefore, it is projected that market expansion will be aided in the coming years by the increasing production of EVs.
Opportunities
During the anticipated time frame, the market expansion will be pushed by the accelerated demand for ceramics in the field of electroceramics. The subclass of advanced ceramics known as electroceramics is utilized in a variety of applications, from straightforward insulating materials to sophisticated ferroelectrics. Compressive strength, higher wear resistance, and resistance to high temperatures and pressures are all features of the product. Additionally, it is anticipated that rising demand for contemporary consumer electronics would increase demand for electroceramics. This prompted a number of producers to concentrate more on products made from electroceramics and develop unique selling points for their goods.
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Market Restraints:
Advanced ceramics are expensive when compared to metal and alloy. The high costs are a result of their labor-intensive manufacturing process, which involves inspection, sintering, diamond grinding, and raw material processing. This process necessitates special equipment and pricey stones, which raise the cost of the product and elevate the final cost of the final product. This limits product demand across a range of industries, including electronics, automotive, and chemicals, and is predicted to restrain market expansion throughout the foreseeable future.
COVID 19 Analysis
The COVID-19 outbreak had a significant impact on the automobile and electronic sectors. Government regulations have limited the movement of people and things all over the world. It has had an effect on the total production of automotive goods and contributed to shipment delays in the production of electronics. Additionally, the epidemic caused the shutdown of manufacturing facilities in the United States and the interruption of the whole supply chain in China and India. Regulations requiring people to stay put caused a demand shock and a revenue drop in the automotive and tech industries. However, when these nations' governments take steps to normalize the operation of their sectors, it is projected that the market will return to normal within the following two years.
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Market Segmentation
By Material
Alumina, titanate, zirconate, and ferrite are among the materials used in the market segmentation for advanced ceramics. The ceramics made from alumina brought in the greatest money. Advanced ceramics constructed from aluminum oxide are known as alumina ceramics. They are very wear-resistant, have strong electrical insulation, and have great mechanical qualities. Electrical insulators, medicinal implants, and cutting tools are just a few uses for alumina ceramics.
By End-Use
Electronics & electronics, automotive, and machinery are the three end-use categories included in the Advanced Ceramics market segmentation. The market was dominated by the area of electronics and electronics. Electronic devices including insulators, capacitors, and sensors all make use of advanced ceramics. They are found in electrical gadgets including computers, televisions, and smartphones.
By Product
Monolithic, matrix, and coatings are the key product categories covered in the Advanced Ceramics market segmentation. Due to their superior toughness, dependability, and resistance to extreme heat, which lengthens component life, monolithic devices have dominated the market. These are employed in a number of sectors, including aerospace, transportation, the armed forces, and defense.
Regional Insights
In light of the mounting need for advanced ceramics in the aerospace and defense industries, the North American Advanced Ceramics market region will lead this industry. The need for advanced ceramics for dental and orthopedic implants is anticipated to increase in the region as the medical device sector expands. The region's market expansion is anticipated to be aided by the nation's growing investments in the aerospace and defense industries as well as the rising demand for sophisticated ceramics for use in medical applications.
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