The new report by Expert Market Research titled, ‘Global Advanced Ceramic Market Report and Forecast 2023-2028’, gives an in-depth analysis of the Global Advanced Ceramic Market, assessing the market based on its segments like Source, Product, Industry, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 6.7%
Absorbed ceramics products are witnessing an increase in popularity owing to their increased strength, temperature resistance, toughness and relatively long life, with customizable characteristics. The eco-friendly properties of these materials and the increase in advanced ceramics to replace conventional metals are key factors driving the advanced ceramic market. Due to the rise in demand for ceramics in the medical industry, demand for advanced ceramics is expected to increase. The improvements in ceramics stimulate businesses to expand the production of advanced ceramics. In addition, easy raw material availability is expected to boost demand for advanced ceramics in the forecast period. It is expected that increasing demand from end-use industries such as medical & renewable energy and growing demand from the clean technology industry will drive the advanced ceramics market over the years forecast.
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Industry Definition and Major Segments
In the development and manufacture of ceramic materials, advanced ceramics, substances, and processes are used because they exhibit unique properties. Advanced ceramics are differentiated by their greater strength, higher operating temperatures, improved toughness, and customizable characteristics from traditional ceramics such as brick and porcelain. The nature of the bond between ceramic particles helps to distinguish ceramics from conventional ceramics in engineering. Consequently, ceramic products are now available that are as tough and electrically conductive as some metals.
Based type, the market is divided into:
- Monolithic Ceramics
- Ceramic Coatings
- Ceramic Matrix Composites
Based on material, the industry can be segmented into:
- Silicon Carbide
- Aluminium Nitride
- Silicon Nitride
By end-use market, the industry is categorised into:
- Electrical and Electronics
- Defence and Security
By region, the industry is categorised into:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
The demand for advanced ceramics is evolving rapidly, as new technologies generate new opportunities for industry players in a wide variety of industrial segments. However, it is expected that the brittle nature of advanced ceramics would slightly impede overall demand in the market. The high cost of these materials vis-à-vis other materials such as metals is also expected to hamper the global advanced ceramics market. Advanced ceramic properties, such as corrosion resistance, high-temperature stability, lightweight, and low thermal expansion, are expected to boost the market in the coming years. The advanced ceramics industry worldwide is seeing technical developments.
Companies are actively working to produce modern and more complex ceramics. The production of new manufacturing processes and applications of advanced ceramics is estimated to propel the advanced ceramics industry. Over the projected period, rising demand from the end-use industries, including clean energy and medical industries, is expected to fuel market growth. Industry development will also be supported by increasing product demand from the renewable technology sectors. Items such as solid oxide fuel cells, for example, are entirely made from advanced ceramics. It is expected that their advantages will further expand their use in the industry by replacing single essential components such as insulation materials.
During the historical time, Asia Pacific dominated the global market. Increasing investments in the manufacturing sector of emerging economies, such as China, Japan, India, and Southeast Asia, are driving development in the region. Significant growth is anticipated in the region’s electronics industry, as prominent companies look forward to building their plants in these countries because of the easy availability of low-cost raw materials and labor. North America accounts for a significant share in the market. The growth of the market could be primarily attributed to advancements in the transportation and electronics industry in Europe and North America. Increasing demand for eco-friendly products coupled with technological advancements is projected to fuel the demand for advanced ceramics over the upcoming years globally.
Key Market Players
The major players in the market are 3M CO., KYOCERA Corporation, Corning Incorporated, Materion Corporation, Coors Tech Inc, International Ceramics Inc, among Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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