The global advanced ceramics market is set to gain momentum from the high demand from the field of electroceramics. It provides greater wear resistance, compressive strength, and resistance to high pressures and temperatures. Electroceramics are extensively used in complex ferroelectrics and simple insulating materials. This information is published by Fortune Business Insights™ in a new study, titled, “Advanced Ceramics Market, 2021-2028.” As per the study, the market size was USD 82,972.9 million in 2020 and is projected to reach USD 1,80,463.4 million by 2028, exhibiting a significant CAGR of 10.2% during the forecast period.
COVID-19 Pandemic: Halt of Automotive Production & Shipment Delays to Hinder Growth
The COVID-19 pandemic has severely affected various industries, such as electronics and automotive. Governments of various countries across the globe are deploying strict norms to ban the movement of material and man. It has thus resulted in shipment delays and halted the production of automotive. These factors are anticipated to hamper the demand for advanced types of ceramics in the upcoming years. Our reports will help you tackle this grave situation by choosing the best strategy.
Segments-
Medical Segment Held 18.0% Share in 2020 Backed by Usage in Making Implants
Based on the material, the market is segregated into alumina, zirconia, titanate, silicon carbide, silicon nitride, and others. By the end-use, it is fragmented into electrical & electronics, transportation, medical, chemical, and others. Amongst these, the medical segment earned 18.0% in terms of the advanced ceramics market share in 2020. This growth is attributable to the rising usage of the product to develop artificial bones, biodegradable splints, and plant materials. The transportation segment generated 21.2% share in 2020 in China.
Report Coverage-
The report provides intelligent insights on new product developments, R&D activities, and future technologies in the advanced ceramics industry. At the same time, it offers accurate information about recent investments, developments, and untapped geographies. Besides, our analysts have conducted an assessment of manufacturing capabilities, strategies, and shares of reputed companies.
List of the Leading Companies Profiled in the Global Market are:
- International Syalons (UK)
- KYOCERA Corporation (Japan)
- S&S Advance Ceramics (India)
- Advanced Ceramics Manufacturing (U.S.)
- Nishimura Advanced Ceramics (Japan)
- CeramTec GmbH (Germany)
- CoorsTek Inc. (U.S.)
- Saint-Gobain (U.S.)
- Morgan Advanced Materials (UK)
- Technocera (India)
- Other Key Players
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/advanced-ceramics-market-105073
Drivers & Restraints-
Increasing Usage in Battery Components to Augment Growth
The high demand for advanced ceramics from the medical and automotive industries is set to contribute to growth. The product has excellent electrical and thermal properties and hence, is extensively used in battery components in the automotive industry. However, the high prices of the product compared to alloy and metal is expected to obstruct the advanced ceramics market growth in the near future.
Regional Insights-
Asia Pacific to Remain at the Forefront Fueled by Rising Demand from Medical Sector
Regionally, Asia Pacific procured USD 30,782.96 million in 2020 in terms of revenue. This growth is attributable to the increasing research & development activities by major companies to introduce technologically advanced products. Also, high demand from the medical sector would aid regional growth. North America, on the other hand, is likely to remain in the second position in the forecast period. The surging production of electronics is set to accelerate growth.
Competitive Landscape-
Key Players Focus on Acquisition Strategy to Strengthen Their Positions
The global market contains a few leading companies that are mainly focusing on mergers and acquisitions to strengthen their positions.
Below is one of the significant industry developments:
May 2019: Kyocera Fineceramics GmbH acquired Friatec GmbH’s advanced ceramics business operations. It would enable the company to meet the high demand for fine ceramic components used in industrial machinery. Also, it will be able to strengthen its capabilities for developing prototypes and delivering them on time.