Research Nester has released a report titled “Advanced Ceramics in Power and Metallurgy Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the advanced ceramics in power and metallurgy market in terms of market segmentation by material, by chemical structure, by application type, by manufacturers, by distribution channel, by product type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The advanced ceramics in power and metallurgy market is segmented by application type into wear & tear, cutting and others. Growing demand for restoration of spare parts, such as pumps and valves among others, is anticipated to drive largest market share for wear & tear segment. In the statistics provided by Valve Manufacturers Association of America (VMA), the power generation industry observed growth in receiving shipments of industrial valve from 11.8 (% of total) in 2018 to that of 11.1 (% of total) in 2010.
The advanced ceramics in power and metallurgy market is anticipated to record a noteworthy CAGR during the forecast period, i.e. 2019-2027. There is a growing demand for insulating paint and coating amongst enterprises owing to the exposure of various components to extreme temperature, induced in the process of production of metals. These insulation paints are made with several composition of advanced ceramics, such as silicon carbide (SiC) and gallium nitride (GaN), among others. These materials also obtain cumulative relevance in the manufacturing of abrasives and refractories, used in the thermal power plants, thereby promoting the demand for advanced ceramics in power and metallurgy market throughout the forecast period.
Regionally, the advanced ceramics in power and metallurgy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Asia-Pacific is expected to have largest market share on the back of having utmost number of power plants powered by coal and being the supreme producer of steel around the globe. Supplemented by growing demand for part restoration in these industries, which is estimated to propel the growth of the market in the region over the forecast period.
Rising Applications Of Part Restoration
In the course of production of finished goods for the power and metallurgy industry, various components such as chute liners, pipe linings, and others endure wear and tear. Exposure to high temperature and containment of chemical solutions, suspensions, coal slurries, and others are leading the demand for restoration of these components and uphold the flow of manufacturing processes.
Growing demand for such restored components, which are fabricated with advanced ceramic materials having tribolical, piezoelectric and conducting properties among others, are contributing significantly towards the growth of the market.
However, the concern for high implementation costs, owing to frequent fluctuations in the prices of raw-materials, and increased production costs, are expected to operate as key restraints to the growth of the advanced ceramics in power and metallurgy market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the advanced ceramics in power and metallurgy market, which includes company profiling of Advanced Ceramics Corp., KYOCERA Corporation (TYO: 6971), CeramTec GmbH, CoorsTek Inc., Saint-Gobain (EPA: SGO), Morgan Advanced Materials (LON: MGAM), COI Ceramics, Inc., 3M (NYSE: MMM), Corning Incorporated (NYSE: GLW), and H.C. Starck Gmbh. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the advanced ceramics in power and metallurgy market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.