Rockville, May 29, 2023 (GLOBE NEWSWIRE) -- On the basis of analysis by Fact.MR, the global advanced ceramics market is estimated to be valued at US$ 73.5 billion in 2023 and is anticipated to grow at a CAGR of 7.0% during the forecast period of 2023-2033.
Advanced ceramics, also known as engineered or technical ceramics, are high-performance materials with superior properties such as high-temperature resistance, excellent hardness, low thermal expansion, and exceptional electrical insulation.
There is a rising demand for advanced ceramics in various industries, such as electronics, automotive, aerospace, and healthcare. The need for lightweight materials with superior performance attributes is boosting the adoption of advanced ceramics in these sectors.
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The increasing focus on energy efficiency and renewable energy sources has further propelled the market. Advanced ceramics find applications in components for power generation, energy storage, and clean technologies. A range of applications and demand across booming end-use industries is likely to drive the advanced ceramics market in the coming years.
Key Takeaways from Market Study
- The projected CAGR for the global advanced ceramics market from 2023 to 2033 will be 7.0%
- The global advanced ceramics market size is estimated to reach US$ 144.6 billion in 2033
- Sales of alumina ceramics are expected to increase 2.3X over the forecast period
- Alumina ceramics continues to be the highest revenue-generating segment, accounting for 50.0% of global revenue
- Sales of advanced ceramics in India will most likely flourish at a CAGR of 3.0% during the forecast period
Increasing Adoption of Advanced Ceramics in Electric Vehicles (EVs) and in 5G Technology to Boost the Demand Growth, says a Fact.MR analyst.
Market Growth Stratagems
The key players in the advanced ceramics market are focusing on partnerships to expand the level of business to a higher level. For instance, “Fortify”, a Boston-based 3D printing start-up has teamed up with ceramic 3D printing materials specialist “Tethon 3D” to support the development of advanced/engineered ceramics for 3D printing and to develop ceramics in a variety of AM applications.
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Competitive Landscape:
The manufacturers of advanced ceramics strategies to develop new products to develop their product portfolios and increase the sales of the advanced ceramics. For instance,
- In April 2021, “Swatch” Introduces World-First Bioceramic with 47 mm Big Bold Watch.
- In August 2021, “XJet Ltd.”, a provider of ground-breaking metal and ceramic additive manufacturing technologies and solutions, announced the commercial availability of alumina technical ceramic adding to its portfolio of additive manufacturing materials.
Key Companies Profiled
- 3M Company
- Applied Ceramics Inc.
- Blasch Precision Ceramics, Inc.
- Ceramtec GmbH
- Coorstek Inc.
- H.C. Starck GmbH
Segmentation of Advanced Ceramics Industry Research
- Advanced Ceramics Market by Material:
- Alumina Ceramics
- Ceramic-based Components
- Titanate Ceramics
- Zirconia Ceramics
- Silicon Carbide Ceramics
- Ceramic Filters
- Others
- Silicon Nitride Ceramics
- Magnesium Silicate Ceramics
- Pyrolytic Boron Nitride Ceramics
- Aluminium Nitride Ceramics
- Electroceramics
- Structural Ceramics
- Technical Ceramics
- High-tech Ceramics
- Ferrite Ceramics
- Transparent Ceramics
- Advanced Ceramics Market by Class:
- Ceramic Matrix Composites
- Ceramic Coatings
- Monolithic Ceramics
- Advanced Ceramics Market by Application:
- Electrical Equipment
- Catalyst Support
- Electronic Devices
- Wear Parts
- Engine Parts
- Filters
- Bioceramics
- Advanced Ceramics Market by End-User:
- Electrical & Electronics Sector
- Transportation Sector
- Medical Sector
- Defense & Security Sector
- Environmental Sector
- Chemical Sector
- Advanced Ceramics Market by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the advanced ceramics market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of material (alumina ceramics, ceramic-based components, titanate ceramics, zirconia ceramics, silicon carbide ceramics, ceramic filters, and others), class (ceramic matrix composites, ceramic coatings, and, monolithic ceramics), application (electrical equipment, catalyst support, electronic devices, wear parts, engine parts, filters, bioceramics), end user (electrical & electronics sector, transportation sector, medical sector, defense & security sector, environmental sector, and chemical sector), and across major regions of the world.
Key Questions Covered in the Advanced Ceramics Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Advanced Ceramics sales grow until 2033?
- Which are the factors hampering the Advanced Ceramics demand?
- Which region will spearhead the growth in the global industry by 2033?
- Which are the factors driving sales in the Advanced Ceramics Market during the forecast period?
Check out more related studies published by Fact.MR Research:
Ceramic Adhesives Market Share: The global ceramic adhesives market share is valued at US$ 8.3 billion in 2023 and is projected to reach US$ 17.8 billion by the end of 2033, progressing rapidly at a CAGR of 7.9% over the decade. Ceramic adhesives are manufactured with ceramic binders.
Ceramic Coatings Market Size: The Ceramic Coatings market size is estimated at US$ 7.4 Bn in 2022 and is projected to reach at a valuation of US$ 15.8 Bn by 2032, expanding at a CAGR of 8.2% during the forecasted period of 2022-2032. Ceramic Coatings market witnessed a growth rate of 7.1% over the past half-decade.
Ceramic Inks Market Revenue: The global ceramic inks market revenue is estimated to account for a valuation of US$ 2.34 billion in 2022. Worldwide consumption of ceramic inks is anticipated to increase at a high CAGR of 7.7% over the forecast period and end up with a market size of US$ 4.93 billion by 2032-end.
Ceramic Membrane Market Growth: The ceramic membrane market growth in 2021 was held at US$ 5.3 Billion. With a CAGR of 11.6% during 2022 - 2032, the market is expected to reach a valuation of US$ 17.1 Billion by 2032. The titania-based ceramic membrane is expected to gross the highest revenue throughout the analysis period, projected to grow at a CAGR of over 11.9% during 2022 – 2032.
Thermal Ceramics Demand: The global thermal ceramics market stands at a value of US$ 4.6 billion in 2023. Global thermal ceramics demand is forecasted to increase at a CAGR of 5.1% and reach a market value of US$ 7.6 billion by the end of 2033.
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