Global Advanced Ceramics Market Overview
Ceramics are generally non-organic, non-metallic solids that are produced from powdered materials. Advanced ceramics are crystalline structures wherein the microstructures are highly engineered. Synthetic compounds are used as the precursor to manufacturing advanced ceramics. Advanced ceramics are high performance, highly technicality ceramics that have highly specified properties such as grain shape, grain size, distributions and porosity. Advanced ceramics have extensive resistance towards melting, stretching, corrosion, bending or wear. Advanced ceramics offer superior electrical, thermal and physical properties that open up new world innovative developmental opportunities in various end-user industries. New advancements in the manufacturing sectors in the recent past have made it possible to manufacture advanced ceramics with the capabilities and properties to solve the engineering challenges which seemed impossible in the past. There are wide ranges of ceramics available in the market for instance, zirconia, alumina, nitride, silicon, silicon carbide and more. It has been only around 30 years since the potential of advanced ceramics has been released by extensive study on ceramic chemistry and understanding of crystallography as well as gained knowledge in the field of engineered and advanced ceramics. For the complex production of advanced ceramics, high purity materials and precise manufacturing methods are employed.
Market Size & Forecast
Advanced Ceramics Market is anticipated to record a significant CAGR of 8.1% over the forecast period. The advanced ceramics market is estimated to reach USD 15.7 billion at the end of the forecast period. Many multi-national companies are concentrating towards new product advances in advanced ceramics. Moreover, the many advantageous properties of advanced ceramics are exploited in the field of electrical and electronics now and then. New uses for advanced ceramics are discovered on regular basis which is expected to drive the advanced ceramics market rapidly.
Currently the global advanced ceramics market is observing a vibrant growth owing to increasing demand of advanced quality materials in the market. Advances in medical industry in the past few years and growing technological explorations are projected to drive advanced ceramics market besides the wide range of functions of advanced ceramics in an immense range of products such as rods and tubes, advanced ceramic nuts, washers, ball bearings, screws, plates and more during the forecast period.
On the basis of regional platform, global Advanced Ceramics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
As an alternative to plastics in medical industrial devices manufacturing, North America is panned to observe substantial advanced ceramics market growth due to rising advanced ceramics usage. North America is predicted to be followed by Asia-Pacific in terms of consumption due to expanding advanced ceramics requirements in electrical and electronics, medical, automotive, and various other industries. On account of multiplying advanced ceramics uses in growing end-use manufacturers across the region, Asia Pacific is budding as a regional advanced ceramics consumption market. Europe is expected to drive demand and positively impact advanced ceramics market growth over the forecast period owing to increasing advanced ceramics application for various industrial equipment manufacturing processes. However, weak economic conditions in countries such as Russia, Spain and others is expected to showcase a more modest growth of the advanced ceramics market across the region over the forecast period.
Our-in depth analysis of the global Advanced Ceramics market includes the following segments:
By End-User Industries
Global Advanced Ceramics Market is further classified on the basis of region as follows:
Growth Drivers & Challenges
The rising demand for advanced ceramics products for various products in medical, aerospace, automotive, electrical and electronics industries are expected to drive the market rapidly over the forecast period. The growing R&D activity associated to advanced ceramics is further expected to expand the market growth on account of discovery of new applications of its products in various end user industries. Rapid industrialization has resulted in economic development leading to thriving manufacturing sector demanding for advanced technological products is expected to boost the advanced ceramics market across the globe. Advanced ceramics provides higher strength, wear resistance, hardness, thermal stability and corrosion resistivity that make them the more attractive choice over other materials which are predicted to drive the advanced ceramics market at a sturdy pace. Moreover, extensive thermal, physical and electrical properties offered by these materials makes them highly durable and reliable for manufacturing equipment in various industries.
However, higher cost of advanced ceramics over alloys and metals is estimated to serve as a major restraint in the adoption and expansion of the advanced ceramics market over the forecast period.
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