Chicago, April 20, 2023 (GLOBE NEWSWIRE) -- The global Advanced Ceramics Market was valued at USD 10.9 billion in 2022 and is projected to reach USD 13.9 billion by 2027, growing at a CAGR 5.1% from 2022 to 2027, as per the recent study by MarketsandMarkets™. This rise in demand is backed by the exceptional properties of ceramics such as resistance against high-temperature, corrosive, and hazardous chemical environments. Increasing demand for advanced ceramics in applications such as AI, IoT, 5G connectivity, and 3D printing technologies is driving demand. Advanced ceramics are a lightweight replacement for alloys in components such as turbine engines and exhaust systems. Advanced ceramics offers improvements in performance, reduced emissions, and decreased fuel consumption. These materials are becoming popular in end use industries such as electronics, semiconductor, energy & power, automotive, and military & defense.
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Browse in-depth TOC on “Advanced Ceramics Market”
211 - Market Data Tables
45 - Figures
258 - Pages
List of Key Players in Advanced Ceramics Market:
- Kyocera Corporation (Japan)
- CeramTec (US)
- CoorsTek (US)
- Saint-Gobain Ceramic Materials (US)
- Morgan Advanced Materials (UK)
- 3M (US)
- Others
Key Findings of the Study:
- Strength and stiffness provided by alumina ceramics is expected to result in the segment occupying majority of advanced ceramic market share.
- Monolithic ceramics segment is estimated to be largest advanced ceramics consuming application.
- Asia Pacific likely to emerge as the largest advanced ceramics market
- Based on region, South Africa is projected to grow second-fastest in the advanced ceramics market during the forecast period.
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Drivers, Restraints, Opportunities and Challenges in Advanced Ceramics Market:
- Drivers: High growth of end-use industries reinforced by high-performance properties of advanced ceramics
- Restraints: Higher cost than their metal and alloy counterparts
- Opportunity: Increasing use in aerospace and defense industries
- Challenges: Lesser acceptance in newer applications
The alumina ceramics segment is the largest segment by type, which is projected to continue its dominance till 2026. Alumina ceramics possess various properties such as strength, stiffness, extreme hardness, high density, wear resistance, and corrosion which make them suitable for wide variety of applications such as in seal rings, ballistic armours, laser tubes, piston engines, and many others. High purity alumina material possess excellent flexural and dielectric strengths and hence are suitable for thin walled parts in high-voltage applications.
Monolithic ceramics, ceramic coatings, ceramic matrix composite, and others are a few classes of advanced ceramics. Monolithic ceramics are highly reliable owing to their high durability, and protection against higher temperature. These properties help increase the component’s life hence monolithic ceramics are used in industries that involve high-temperature operations. These ceramics are primarily used in end-use industries, such as aerospace, automotive, power generation, transportation, military & defense, medical, and electrical & electronics.
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Among the end-use industries of advanced ceramics, electrical & electronics, medical, transportation, environmental, chemical, and defense & security are the major ones. The electrical & electronics industry dominated the market in 2020. The growth of this industry can be attributed to the growth of emerging economies such as India, China, and Malaysia led to growth of the advanced ceramics market in the electrical & electronics industry. Use of advanced ceramics reduces overall weight of electronic equipment; promotes miniaturization of electronic components, devices, and equipment, and components and increases integration of electronic components and systems in a wide range of applications. These factors drive the advanced ceramics market in the electrical & electronics industry.
APAC is the dominating consumer of advanced ceramics in 2021, in terms of value. APAC was the largest market for advanced ceramics in 2021. The electrical & electronics sector in the region has experienced healthy growth in the past couple of years. Countries such as China, South Korea, and Japan are leading in electronics and semiconductor industry. Rising population, rapid industrialization, increasing electrification, growth in disposable income, technological advancements, and rising urbanization are driving the APAC advanced ceramics market.
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