July 25, 2024
Advanced Ceramics Market

Advanced Ceramics Market is Expected to boost due to integration of New Technologies

Advanced ceramics are driving innovations across multiple industries due to their unique properties like high strength, corrosion and heat resistance, and electrical insulation. Advanced ceramics such as aluminum oxides, titanium carbides, and silicon nitrides find wide usage in medical implants, electronics, energy, and automotive owing to their superior performance over traditional materials. Ceramic parts allow miniaturization of devices while withstanding high temperatures and voltages. Ceramic insulators enable powering today’s cutting-edge electronic devices. Ceramic filters help purify water and air. Ceramic armor protects military assets and personnel.

The global Advanced Ceramics Market is estimated to be valued at US$ 91617.4 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the major trends gaining traction in the advanced ceramics market is the development of ceramic matrix composites (CMCs). CMCs combine fibers such as silicon carbide or carbon with ceramic matrices like aluminum oxide or silicon carbide to provide enhanced properties over monolithic ceramics. The fiber reinforcement allows CMCs to tolerate higher stresses and withstand cracks better than conventional ceramics. CMCs open up new applications for ceramics in harsh, high-temperature environments encountered in industries such as aerospace, energy, transportation and metals processing. Continuous advancements in CMC fabrication techniques coupled with their improved strength-to-weight ratios compared to metals have boosted their adoption. This is expected to drive the demand for advanced ceramics during the forecast period.

Porter’s Analysis

Threat of new entrants: The advanced ceramics market requires high investment in R&D and manufacturing facilities which poses significant entry barriers.

Bargaining power of buyers: The market has several buyers from end-use industries like electrical and electronics, transportation, medical, defense and security etc. However fragmented demand from different industries balances the buyers’ bargaining power.

Bargaining power of suppliers: The raw materials used in advanced ceramics such as aluminum oxide, zirconium oxide, silicon carbide etc are speciality chemicals supplied by few global players giving them relatively higher bargaining power.

Threat of new substitutes: Advanced ceramics have better properties than traditional materials and limited substitutes available, reducing threat from substitutes.

Competitive rivalry: The market has presence of large global players leading to high competition.

Key Takeaways

The Global Advanced Ceramics Market Share is expected to witness high growth over the forecast period. The global Advanced Ceramics Market is estimated to be valued at US$ 91617.4 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.

Regionally, Asia Pacific is expected to dominate as well as witness fastest growth owing to large manufacturing base in countries like China, India, Japan and South Korea. China dominates the regional market owing to presence of huge electronic and automotive industries. India is also expected to witness fastest growth supported by ‘Make in India’ initiative of the government focusing on domestic manufacturing.

Key players: Key players operating in the advanced ceramics market includes 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:
Source: Coherent Market Insights, Public sources, Desk research
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