Selbyville, Delaware , Aug. 21, 2023 (GLOBE NEWSWIRE) -- Advanced ceramics market size is predicted to surpass USD 15.6 billion by 2032, as per a recent study by Global Market Insights Inc.
The increasing application of advanced ceramics across numerous sectors, with non-oxide ceramics playing a pivotal role in meeting specific industrial requirements, is pushing the market development. The exponential growth of sectors like electronics, aerospace, energy, and healthcare has led to an amplified requirement for materials that can withstand extreme conditions without any damage. The unique properties of advanced ceramics, including exceptional strength, resistance to wear and corrosion, and the ability to function under high temperatures, make them the ideal choice for challenging applications.
The automotive industry, in particular, has embraced advanced ceramics for their outstanding performance characteristics, revolutionizing the manufacturing processes. Moreover, the growing focus on sustainability and the need for efficient and eco-friendly technologies have spurred the product in automaking, contributing to the market expansion.
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Rising popularity of Non-Oxide Ceramics to influence market development
The non-oxide ceramics product segment is expected to witness substantial growth from 2023 to 2032 as ceramics such as silicon carbide (SiC) and silicon nitride (Si3N4) offer remarkable properties that set them apart from traditional ceramics. These materials exhibit exceptional thermal conductivity, mechanical strength, and corrosion resistance. Industries such as electronics, aerospace, and defense are increasingly incorporating non-oxide ceramics into their designs to enhance overall efficiency and durability. The increasing usage of non-oxide ceramics with a combination of desirable attributes for the advancement of modern technology and industrial processes is pushing the segment growth.
Innovation in the automotive sector to drive industry expansion
The automotive application segment of advanced ceramics market is anticipated to grow significantly from 2023 to 2032 owing to the extensive integration of advanced ceramics in various components of vehicles. These ceramics are employed in critical applications such as engine components, exhaust systems, and brake components, where their exceptional thermal and mechanical properties play a pivotal role in improving performance and efficiency. The lightweight nature of advanced ceramics enables reduced fuel consumption and emissions, aligning with the sustainability goals in the sector. Moreover, the product ability to withstand extreme conditions ensures better durability and longevity, reducing maintenance and replacement costs. As automotive manufacturers strive to meet stringent regulations and consumer demands for innovative and eco-conscious vehicles, the advanced ceramics integration will surge in the coming years.
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Sustainability efforts to push Europe market growth
Europe advanced ceramics industry size is anticipated to observe growth at a robust pace through 2032 owing to the scientific and technological innovations. The region poses as a hub for R&D activities in the ceramics segment. The emphasis on sustainability, coupled with the commitment to fostering innovation, has led to the creation of cutting-edge ceramics solutions that cater to various industrial needs. From aerospace applications that demand lightweight yet robust materials to energy-efficient solutions for electronics, European companies and research institutions have consistently delivered advancements that redefine the possibilities of advanced ceramics. As the region continues to invest in research and collaborate across sectors, Europe advanced ceramics market is set to remain robust.
Some of the key players in the global advanced ceramics marketplace are Saint-Gobain Ceramic Materials, Kyocera Corporation, CeramTec GmbH, CoorsTek, Inc., NGK Insulators Ltd., Murata Manufacturing Co., Ltd., Corning Incorporated, Morgan Advanced Materials plc, Ferro Corporation, and 3M Company. These industry leaders are working on the development of innovative strategies, new product launches, mergers, and partnerships to strengthen their position.
For instance, in April 2021, CeramTec Group acquired Dentalpoint AG, a Swiss pioneer in ceramic dental implants. This acquisition marks a pivotal juncture for the globally recognized medical technology conglomerate as it enhances its offerings in the realm of high-performance ceramics.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
