DUBLIN–(BUSINESS WIRE)–The “Global Advanced Ceramics Market by Material (Alumina, Zirconia, Titanate, Silicon Carbide), Application, End-Use Industry (Electrical & Electronics, Transportation, Medical, Defense & Security, Environmental, Chemical) and Region – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global advanced ceramics market size is projected to reach USD 13.2 billion by 2026 from USD 10.3 billion in 2021, at a CAGR of 5.0% during the forecast period.
This growth is attributed to rise in demand in areas such as 5G connectivity, AI, IoT, and 3D printing technology backed by the superior properties of ceramics to withstand corrosive, high-temperature, and hazardous chemical environments. The advanced ceramics market is also expected to benefit from the growing demand in the medical industry owing to their high strength and toughness with bio-inert properties and low wear rates.
Alumina accounted for the largest share amongst other materials in the advanced ceramics market
Alumina ceramics possess various properties such as extreme hardness, high density, wear resistance, thermal conductivity, high stiffness, chemical resistance, and compressive strength which make them suitable for wide variety of applications such as in nozzles, circuits, piston engines, and others. It offers up to twenty times the thermal conductivity amongst of other oxides. High purity alumina is usable in both oxidizing and reducing atmospheres.
Monolithic ceramics accounted for the largest market share amongst other applications in the advanced ceramics market
Monolithic ceramics offer high durability, reliability, and protection against higher temperature that help increase the component’s life. These ceramics are used in industries that require high-temperature operations. These ceramics are widely used in end-use industries, such as automotive, aerospace, power generation, military & defense, transportation, electrical & electronics, and medical. They are widely used in manufacturing medical devices, implants, and industrial components.
Electrical & electronics is expected to be the largest advanced ceramics consumer in 2021 amongst other end-use industries
Ceramic components are essential in products such as smartphones, computers, televisions, and automotive electronics. Advanced ceramics are used in manufacturing various electronics component, including capacitors, insulators, integrated circuit packages, piezoelectric components, and others. These ceramic components possess excellent properties including good insulation, piezoelectric & dielectric properties, and superconductivity, which makes them highly preferred in the electronics industry.
APAC is the largest and fastest growing amongst other regions in the advanced ceramics market
APAC was the largest market for advanced ceramics in 2019. Growth in APAC is primarily attributed to the fast-paced expansion of electrical & electronics industry in economies such as China, India, Indonesia, Thailand, Singapore, and Malaysia. Rollout of 5G technology and innovations in medical electronics are expected to drive the consumption of advanced ceramics in the region. Various sectors such as automotive, aerospace, defence, and medical in APAC are growing due to the change in reforms, ecosystem partnership across the value-chain, increasing R&D, and digitalization initiatives.
Market Dynamics
Drivers
- High Growth of End-Use Industries and High-Performance Properties of Advanced Ceramics
- Rising Demand from Medical and Electronics Sectors
Restraints
- Higher Cost Than Their Metal and Alloy Counterparts
Opportunities
- Growth in Nanotechnology
- Increasing Use in Aerospace and Defense Industries
- Evolution of IoT, Ai, and 3D Printing Technologies
Challenges
- Lesser Acceptance in Newer Applications
Companies Mentioned
- 3M
- Advanced Ceramic Manufacturing
- Advanced Ceramic Materials
- Bakony Technical Ceramic
- BCE Special Ceramics
- Blasch Precision Ceramics Inc.
- CeramTec GmbH
- COI Ceramics, Inc.
- CoorsTek Inc.
- Dyson
- Elan Technology
- Ferrotec
- International Sylon
- Kyocera Corporation
- Materion
- McDanel Advanced Ceramic Technologies
- Momentive
- Morgan Advanced Materials
- Nishimura Advanced Ceramics
- Oerlikon
- Ortech
- Rauschert Steinbach GmbH
- Saint Gobain Performance Ceramic& Refractories
- Superior Technical Ceramics
- Technocera Industries
For more information about this report visit https://www.researchandmarkets.com/r/gcac4j
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Source: https://www.fintechnews.org/the-worldwide-advanced-ceramics-industry-is-projected-to-reach-13-2-billion-by-2026-at-a-cagr-of-5-from-2021-researchandmarkets-com/
