Advanced Ceramics Market worth $13.9 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 2, 2022 /PRNewswire/ -- Advanced Ceramics Market size is estimated to be USD 10.9 billion in 2022 and projected to reach USD 13.9 billion by 2027, at a CAGR of 5.1%, according to a new report 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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The advanced ceramics market includes major Tier I and II suppliers like Kyocera Corporation, Ceramtec, Coorstek, Saint Gobain Performance Ceramic & Refractories, and Morgan Advanced Maerials. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and RoW. COVID-19 has impacted their businesses in 2020 but these companies have recovered in last two years by managing operations and profits. Infrastructural development in post-covid era are supporting growth of advanced ceramic market.
Strength and stiffness provided by alumina ceramics is expected to result in the segment occupying majority of advanced ceramic market share
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 segment is estimated to be largest advanced ceramics consuming application
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.
Electrical & electronics is expected to be the largest consumer of advanced ceramics Ceramic-based components are vital in products such as circuit carriers, sensors, actuators, automotive electronics, smartphones, computers, televisions, and. Advanced ceramics are used in manufacturing various electronics component, including vacuum switching tubes, diodes, thyristors, highly resilient electric feedthroughs, and surge arresters Ceramic exhibit low electrical conductivity hence is ideal for designing passive components in electronics industry.Technical ceramics can be modified to make them suitable for different electronic applications. The rising need for efficient and highly integrated electronic devices is expected to drive the demand for advanced ceramic materials.
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Asia Pacific likely to emerge as the largest advanced ceramics market
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.
Key Players in the Advanced Ceramics Market include:
- Kyocera Corporation (Japan),
- CeramTec (US),
- CoorsTek (US),
- Saint-Gobain Ceramic Materials (US),
- Morgan Advanced Materials (UK), and
- 3M (US).
These players have established a strong foothold in the market by adopting strategies, such as new product launches, expansions, joint ventures, and mergers & acquisitions.
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