Advanced ceramics market worth $13.9 billion by 2027 –
Chicago, Aug. 12, 2022 (GLOBE NEWSWIRE) — The advanced ceramics market size is estimated to be USD 10.9 billion in 2022 and is projected to reach USD 13.9 billion by 2027, growing at a CAGR of 5.1%. according to a new report from MarketsandMarkets™. This increase in demand is supported by the exceptional properties of ceramics such as resistance to high temperature, corrosive and hazardous chemical environments. Growing demand for advanced ceramics in applications such as AI, IoT, 5G connectivity and 3D printing technologies is driving demand. Advanced ceramics are a lightweight replacement for alloys in components such as turbine engines and exhaust systems. Advanced ceramics provide improved performance, lower emissions and lower fuel consumption. These materials are becoming popular in end-use industries such as electronics, semiconductors, power and electrical, automotive, military, and defense.
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The advanced ceramics market includes major Tier I and Tier II vendors such as Kyocera Corporation, Ceramtec, Coorstek, Saint Gobain Performance Ceramic & Refractories, and Morgan Advanced Materials. These vendors have their manufacturing facilities spread across various countries in Asia Pacific, Europe, North America, South America and RoW. COVID-19 impacted their businesses in 2020, but these companies have recovered over the past two years by managing their operations and earnings. Infrastructure development in the post-covid era is supporting the growth of the advanced ceramics market.
The strength and stiffness provided by alumina ceramics is expected to enable the segment to occupy the majority of the advanced ceramics market share
Alumina ceramics possess various properties such as strength, stiffness, extreme hardness, high density, wear resistance and corrosion which make them suitable for a wide variety of applications such as bushings. sealing, ballistic armor, laser tubes, piston engines and many more. . The high-purity alumina material has excellent flexural and dielectric strengths and is therefore suitable for thin-walled parts in high-voltage applications.
Monolithic ceramics segment is estimated to be the largest consuming application of advanced ceramics
Monolithic ceramics are very reliable due to their high durability and protection against high temperatures. These properties help increase component life, which is why monolithic ceramics are used in industries that involve high-temperature operations. These ceramics are primarily used in end-use industries, such as aerospace, automotive, power generation, transportation, military and defense, medical, electrical, and electronics.
Electricity and electronics are expected to be the largest consumer of advanced ceramics Ceramic-based components are essential in products such as circuit carriers, sensors, actuators, automotive electronics, smartphones, computers , televisions, etc. Advanced ceramics are used in the manufacture of various electronic components, including vacuum switch tubes, diodes, thyristors, high-strength electrical bushings, and surge suppressors. Ceramic has low electrical conductivity and is therefore ideal for the design of passive components in the electronics industry. Technical ceramics can be modified to manufacture suitable for different electronic applications. The growing need for efficient and highly integrated electronic devices is expected to drive the demand for advanced ceramic materials.
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Asia-Pacific is expected to become the largest market for advanced ceramics
APAC was the largest market for advanced ceramics in 2021. The electrical and electronics sector in the region has seen healthy growth over the past two years. Countries like China, South Korea, and Japan are leading the electronics and semiconductor industry. Rising population, rapid industrialization, increasing electrification, growing disposable income, technological advancements, and growing urbanization are driving the APAC advanced ceramics market.
Leading players of the Advanced Ceramics market include:
- Kyocera Corporation (Japan),
- CeramTec (USA),
- CoorsTek (USA),
- Saint-Gobain Ceramic Materials (United States),
- Morgan Advanced Materials (UK) and
- 3M (USA).
These players have firmly established themselves in the market by adopting strategies such as new product launches, expansions, joint ventures, and mergers and acquisitions.
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