Advanced Ceramic Market Outlook 2031
The advanced ceramics market size was valued at USD 100.67 Billion in 2022 and is anticipated to reach USD 241.29 by 2031, expanding at a CAGR of 10.2% during the forecast period, 2023 – 2031. The growth of the market is attributed to the growing demand for modern consumer electronic, use of advanced ceramics in electronic circuit and components, and dielectric and ferroelectric properties of product.
The advanced ceramics are generally described as nonmetallic and inorganic solids that are made up from powdered materials and manufactured into products over the application of heat and show characteristic properties such as strength, hardness, brittleness, and low electrical conductivity.
The Covid-19 pandemic affected the demand and supply of advanced ceramics market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Advanced Ceramic Market Trends, Drivers, Restraints, and Opportunities
- High demand for electronic sensor and power electronic is the major factors fueling the market.
- Strict regulations on ceramic market are anticipated to restrict market growth during the forecast period.
- High price of advanced ceramics is projected to hamper the market expansion in the coming years.
- R&D investment and technological advancement in advanced ceramics is projected to create lucrative opportunities for the market players.
Scope of The Advanced Ceramic Market Report
The report on the advanced ceramics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Advanced Ceramics Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016-2021
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Forecast Period
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2023-2031
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Segmentation
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Material Types [Titanate, Alumina, Silicon Carbide, Zirconia, Silicon Nitride, Aluminum Nitride, Pyrolytic Boron Nitride, Magnesium silicate, and Other Material Types], Class Types [Ceramic Matrix Composites, Monolithic Ceramics, and Other Coatings], End-user Industry [Medical, Electronics and Electrical, Industrial, Transportation, Chemical, Defense and Security, and Other End-user Industries]
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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SandS Advance Ceramics, Morgan Advanced Materials Plc, Kyocera Corp., 3M Co., CeramTec GmbH, Advanced Ceramics Manufacturing, CoorsTek Inc., SCHOTT AG, McDanel Advanced Ceramic Technologies LLC, and Corning Inc.
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Advanced Ceramic Market Segment Insights
The electronics and electrical segment is projected to hold a major market share
Based on end-users, the advanced ceramics market is fragmented into medical, electronics and electrical, industrial, transportation, chemical, defense and security, and other end-user industries. The electronics and electrical segment is estimated to expand at a high CAGR during the forecast period. Growth of the market is attributed to growing demand for modern consumer electronic and high demand for electronic components.
However, the medical segment is anticipated to expand at rapid peace during the forecast period due to factors such as rising awareness about advanced ceramics, ferroelectric properties of advanced ceramics product, and increased uses in wind turbines.
The alumina segment accounts for key share of the market and expected to grow at a rapid pace
On the basis of material types, the advanced ceramics market is divided into titanate, alumina, silicon carbide, zirconia, silicon nitride, aluminum nitride, pyrolytic boron nitride, magnesium silicate, and other material types. The alumina segment accounts for a key share of the market. Growth of the market is attributed to increased uses in photovoltaic modules and use of advanced ceramics in electronic circuit.
However, the zirconia is anticipated to expand at rapid peace during the forecast period due to factors such as increasing demand for advanced ceramics electronic sensors, rapid development in electronic technology, and growing demand for advanced ceramics in medical industry.
The ceramic matrix composites segment is projected to expand at a high CAGR during the forecast period
Based on class types, the advanced ceramics market is categorized into ceramic matrix composites, monolithic ceramics, and ceramic coatings. The ceramic matrix composite is sub-segment of advanced ceramics; they consist of ceramic fibers placed in a ceramic matrix. The matrix and the fibers both are made up from ceramic material, through which carbon fibers and carbon can also be considered as a ceramic material.
The monolithic ceramics are divided by their special features, such as durability, resistance to high temperatures, and reliability, which makes them essential for more demanding applications. The ceramic coating is a chemical solution that is applied on the exterior part to protect the vehicle from external paint damage.
The market in Asia Pacific is estimated to hold major market share
On the basis of regions, the advanced ceramics market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at a high CAGR during the forecast period due to growing demand from medical industry, increased uses in photovoltaic modules, and high demand for electronic sensors.
The market of Asia Pacific is expected to hold major market share due to ongoing advancement in electronic technology, use of advanced ceramics in electronic components, and dielectric and ferroelectric properties of product.
Segments
The advanced ceramics market has been segmented on the basis of
Material Types
- Titanate
- Alumina
- Silicon Carbide
- Zirconia
- Silicon Nitride
- Aluminum Nitride
- Pyrolytic Boron Nitride
- Magnesium silicate
- Other Material Types
Class Types
- Ceramic Matrix Composites
- Monolithic Ceramics
- Other Coatings
End-User Industry
- Medical
- Electronics and Electrical
- Industrial
- Transportation
- Chemical
- Defense and Security
- Other End-user Industries
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- SandS Advance Ceramics
- Morgan Advanced Materials Plc
- Kyocera Corp.
- 3M Co.
- CeramTec GmbH
- Advanced Ceramics Manufacturing
- CoorsTek Inc.
- SCHOTT AG
- McDanel Advanced Ceramic Technologies LLC
- Corning Inc.
Competitive Landscape
Key players competing in the advanced ceramics market includes SandS Advance Ceramics, Morgan Advanced Materials Plc, Kyocera Corp., 3M Co., CeramTec GmbH, Advanced Ceramics Manufacturing, CoorsTek Inc., SCHOTT AG, McDanel Advanced Ceramic Technologies LLC, and Corning Inc.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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