The advanced ceramics market has been gaining high traction over the years owing to increasing applications across various industries including automotive, electronics, medical, and industrial. Advanced ceramics are inorganic, non-metallic materials comprising metal oxides, carbides, silicides, or nitrides that possess properties suitable for applications requiring high levels of hardness, strength, chemical resistance, and thermal capabilities. Advanced ceramics find applications across medical, electronics, and energy, among others. Surging demand for advanced ceramics-based components from automotive and electronics industries for applications including sensors, engine parts, and wear parts has fueled the market growth.
Key Takeaways
Key players operating in the advanced ceramics market are 3M (Ceradyne Inc.), AGC Inc., Applied Ceramics, Blasch Precision Ceramics Inc., Ceramtec, COI Ceramics Inc., Coorstek Inc., Corning Incorporated, International Ceramics Inc., Kyocera Corporation, MARUWA Co. Ltd, Materion Corporation, McDanel Advanced Ceramic Technologies, Morgan Advanced Materials, Murata Manufacturing Co. Ltd, Rauschert GmbH, Saint-Gobain, Small Precision Tools Inc., Vesuvius, and Wonik QnC Corporation. These key players are focusing on new product development, acquisitions, and global expansion to garner a larger share of the market.
The advanced ceramics market offers significant opportunities owing to growing applications in the electronics sector for making capacitors, piezoelectric transducers, solid-oxide fuel cells, and batteries. The demand for bio-ceramics in medical applications is also expected to boost the advanced ceramics market growth over the forecast period. Moreover, increasing aerospace budgets and demand for lightweight and durable ceramic materials for applications in the aircraft engine, structure, and exhaust systems is supporting the global expansion of the advanced ceramics market.
Key players in the advanced ceramics market are focusing on global expansion by setting up manufacturing plants across various regions. For instance, Coorstek Inc. established manufacturing facilities in Asia Pacific and Europe. Meanwhile, Kyocera Corporation is focused on significant investments towards the expansion of manufacturing facilities in China to cater to increasing demand and gain a competitive edge in the Asia Pacific advanced ceramics market.
Market drivers:
Growing automotive production worldwide due to rising vehicle ownership in developing countries is a major market driver. Advanced Ceramics Market Demand are used in sensors, engine parts, and armor protection systems in vehicles. Increasing aerospace components manufacturing is another key driver as advanced ceramics help reduce aircraft weight.
Market restraints:
High manufacturing costs of advanced ceramics as compared to traditional materials and volatility in raw material prices hamper the market growth. Processing complexity and need for specialized production techniques also pose challenges.
Segment Analysis
The advanced ceramics market is segmented into alumina, zirconia, titanate, and silicon carbide. The alumina ceramics segment dominates the market currently with the largest market share and is expected to maintain its dominance during the forecast period. Alumina ceramics offer high strength, hardness, heat resistance, and wear resistance. These properties make alumina ceramics suitable for a wide range of applications in electrical & electronics, automotive, machine manufacturing, medical, and metallurgy. Surging demand from the electrical & electronics industry for insulators, substrates etc. is driving the alumina ceramics segment.
Regional Analysis
Asia Pacific region dominates the advanced ceramics market with the largest market share currently. Rapid industrialization and urbanization in countries such as China and India are driving demand for advanced ceramics from various end-use industries like medical, automotive, electronics etc. in the region. In addition, presence of major ceramic manufacturers in countries like Japan, China is contributing to the regional market growth. North America region is expected to witness the fastest growth during the forecast period owing to increasing R&D investments and growing demand for advanced ceramics from defense and aerospace industries in the region.
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