Jersey City, NJ, March 23, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Advanced Ceramic Market Size, Share & Trends Analysis Report by Material (Alumina, Titanate Ceramics, Zirconia, Silicon Carbide), Application (Monolithic Ceramics, Ceramic Coatings, Ceramic Matrix Composites, Ceramic Filters), And End-Use Industry (Electrical & Electronics, Transportation, Medical, Defense & Security, Environmental, Chemical)- Market Outlook And Industry Analysis 2031"
The global Advanced Ceramic Market is estimated to reach over USD 15.86 billion by 2031, exhibiting a CAGR of 5.45% during the forecast period.
Improved magnetic, optical, thermal, and electrical conductivity is provided by advanced ceramic, also known as technical ceramic. The widespread use of advanced ceramics in EVs is anticipated to fuel market expansion further. The preference for lightweight materials in numerous industries is the main factor driving the demand for advanced ceramics in the U.S.
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Throughout the forecast period, rising production and consumption of these materials and components for the electrical and electronics sector are anticipated as a result of the expanding demand for uninterruptible connectivity and their application in the booming electric vehicle (EV) and defense sectors.
Over the projection period, it is anticipated that the growing use of advanced ceramics in various applications and expansion in the medical and telecom industries will boost the market growth. Brittleness and a lack of strength are some of the obstacles this market faces as it tries to expand.
Recent Developments:
- In February 2021, Coorstek made public the location of a new manufacturing facility there.
- In March 2019, with a USD 20 million investment, CeramTec North America announced the development of its Laurens Country business.
List of Prominent Players in the Advanced ceramic market:
- 3M
- Advanced Ceramics Manufacturing (U.S.)
- AGC Ceramics Co., Ltd.
- CeramTec GmbH
- CoorsTek Inc.
- Elan Technology
- International Syalons (UK)
- KYOCERA Corporation
- Morgan Advanced Materials
- Murata Manufacturing Co., Ltd.
- Nishimura Advanced Ceramics Co., Ltd.
- Ortech Advanced Ceramics
- S&S Advance Ceramics (India)
- Saint-Gobain (U.S.)
- Technocera (India)
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Advanced Ceramic Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 10.01 Bn |
| Revenue forecast in 2031 | USD 15.86 Bn |
| Growth rate CAGR | CAGR of 5.45% from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Million, and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Material, Application, And End-Use Industry |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers-
Advanced ceramics' excellent performance and the rapid expansion of end-use industries provide improved corrosion resistance for armor, autos, and aircraft, which translates to lower maintenance and other expenditures. For various end-user industries, including the military, defense, aerospace, automotive, electronics, and energy and power, these advanced ceramics are an ideal material due to this characteristic.
Thermal expansion is a frequent flaw affecting various parts, including those for energy and electricity, aviation, military, and automobiles. Under the same climatic conditions, the thermal expansion of advanced ceramics is significantly less than that of other standard alloys and metals. This factor has influenced the utilization of these ceramics in many end-use industries.
Challenges:
The advanced ceramic market faces several challenges, including high production costs, limited awareness of the benefits of advanced ceramics among end-users, and a need for more skilled workers for manufacturing and processing. Additionally, advanced ceramics can be brittle and difficult to shape, posing challenges in certain applications. Competition from alternative materials and slow adoption rates in some industries also contribute to the challenges the advanced ceramic market faces.
Regional Trends:
The Asia Pacific Advanced ceramic market is expected to register a major market share in revenue and is projected to grow at a high CAGR shortly. Asia Pacific was one of the leading regions in the global advanced ceramic market and was expected to continue its dominance in the coming years.
The growth in the Asia Pacific advanced ceramic market can be attributed to factors such as the increasing demand for advanced ceramics in various applications, such as electronics, medical, and automotive industries, as well as the presence of many manufacturers and suppliers in the region. Additionally, favorable government initiatives and investments in research and development activities have also contributed to the growth of the advanced ceramic market in the Asia Pacific region.
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Segmentation of Advanced Ceramic Market-
Advanced Ceramic Market By Material
- Alumina Ceramics
- Titanate Ceramics
- Zirconia Ceramics
- Silicon Carbide Ceramics
- Others
Advanced Ceramic Market By Application-
- Monolithic Ceramics
- Ceramic Coatings
- Cermic Matrix Composites
- Ceramic Filters
- Others
Advanced Ceramic Market By End Use Industry-
- Electrical & Electronics
- Transportation
- Medical
- Defense & Security
- Environmental
- Chemical
- Others
Advanced Ceramic Market By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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