Advanced Ceramics Market - Segmented by Type, End-User Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global advanced ceramics market was valued at USD 75.34 billion in 2017. This market is expected to reach USD 104.16 billion by 2023, registering a CAGR of 10.81% over the forecast period, 2018-2023. Asia-Pacific is expected to lead the market owing to its rapid growth in the healthcare industry. Advanced ceramics are high strength and highly developed ceramic materials that are primarily lightweight, non-metallic, organic, and corrosion-resistant. These have been developed in the last 50-60 years and have bypassed the use of conventional ceramics.
Soaring Demand from Ceramic Matrix - Composites Segment
The increasing use of advanced ceramics as an alternative to metals and plastics and increasing demand from the medical industry drive this market. However, factors such as high cost and recyclability issue may hinder the growth of the market. Ceramics that include fabrication and polycrystalline microstructures without the reinforcement process are referred to as monolithic ceramics. Monolithic ceramics are the major product type of advanced ceramics market worldwide.
Asia-Pacific Region to Lead the Market
Asia-Pacific is expected to maintain its dominance during the forecasted period, followed by North America and Europe. Furthermore, there is an increase in the use of nanotechnology and higher application in wind turbines and pollution control applications.
Key Developments in the Market
- March 2018- 3D printed ceramics reduce cost as well as lead times for complex aerospace parts.
- Feb 2017- Ceram Tec announced acquisition of the UK Morgan Advanced Materials’ electro-ceramics business.
- Jan 2016- Saint-Gobain and Corning Incorporated announce new joint venture to produce lightweight glazing for the automotive market.
Major Players - Advanced Ceramics Ltd, COI Ceramics Inc., CoorsTek Inc., Ceradyne Inc., Kyocera Corporation, and Corning Incorporated, among others.
Reasons to Purchase the Report
- To understand the impact of end-user applications on the market
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- To understand the dominating technology in the market
- Countries expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
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