by Market Overview:
Advanced ceramics have exceptional properties such as high strength, corrosion and wear resistance, hardness and heat resistance which make them suitable for high temperature applications. They are used in industries such as electronics, transportation, defense, medical and others.
Advanced Technical Ceramics is the largest segment driving the growth of Advanced Ceramics Market.
The global Advanced Ceramics Market is estimated to be valued at US$ 91,617.4 Mn or Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trend in the advanced ceramics market is increasing use of technical ceramics in automotive industry. Technical ceramics are widely used in automotive engine components such as sensors, spark plugs, glow plugs, etc. due to their high temperature resistance. They are also used to produce brakes, discs, and pistons due to their high strength and wear resistance. Growing automobile production across the globe is positively impacting the demand for advanced technical ceramics. Furthermore, increasing usage of advanced technical ceramics in aerospace industry for components such as jet engine turbines, turbochargers, and spacers is expected to support the market growth over the forecast period.
The global Advanced Ceramics Market Growth is estimated to be valued at US$ 91617.4 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Advanced ceramics have high strength, resistance to heat and corrosion. They can withstand high temperatures up to around 3000°C without degradation.
Weakness: Advanced ceramics are brittle and prone to cracking or chipping. They have low toughness and cannot withstand impact loads. Production of advanced ceramics requires high capital investment and advanced technology.
Opportunity: Increasing use of advanced ceramics in end use industries such as electronics, automotive, industrial and defense offer significant growth opportunities. Growing demand for lightweight and high temperature resistant materials boost the advanced ceramics market.
Threats: Availability of alternative materials such as metals and plastics poses threat to advanced ceramics market. Volatility in raw material prices can hamper the market growth.
Key Takeaways
The global advanced ceramics market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing demand from end use industries such as electronics, automotive and industrial.
Regional analysis
The Asia Pacific region dominates the global advanced ceramics market and is expected to continue its dominance, growing at the fastest CAGR during the forecast period. This is attributed to rapid industrialization and growing electronics industry in China, Japan and other Asian countries. North America is another major region for advanced ceramics market driven by developed end use industries and presence of key ceramic manufacturers in the US and Canada.
Key players
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
