The advanced ceramics industry is projected to reach a value of US$ 40,142.0 million in 2023 and is expected to grow to US$ 63,542.7 million by 2033, with a significant CAGR of 4.7%.
According to Future Market Insights, the United States is projected to account for 24.4% of the global market revenue in 2022. The region’s advanced ceramics market is driven by increased usage in the electrical and electronics industry, growing demand for aluminum nitride ceramics, and their incorporation in sectors like aerospace and automotive.
They find applications in various industries, including aerospace, automotive, electronics, healthcare, energy, and defense. Advancements in ceramic manufacturing technologies, such as additive manufacturing or 3D printing, have expanded their potential.
The market is driven by the increasing use of silicon carbide ceramics (SiC) and gallium nitride (GaN) in various applications, growing demand for advanced ceramics from multiple industries, and the rising production and consumption of electroceramics. However, challenges such as higher prices compared to metals and alloys, limited production of certain ceramics, and lack of customer awareness about their potential applications may hinder the market growth.
Silicon carbide commands the material segment in the advanced ceramics market, holding a share of 34.1%. Due to its wear resistance and thermal conductivity, silicon carbide finds extensive use in industries like automotive, aerospace, electronics, energy, and metallurgy, particularly in automotive components.
Click Here to Request Your Sample Report! https://www.futuremarketinsights.com/reports/sample/rep-gb-300
In the end-user segment, the medical industry leads with a significant market share of 31.0%. The medical sector’s reliance on ceramics for advanced medical devices and its focus on improving patient outcomes contribute to its strong foothold in the market.
Europe is expected to hold a 12% share of the global market in 2022. The region’s growth is attributed to the rapid expansion of the electronics and medical equipment industries. Initiatives like government funding further boost the development of the European market as a global center for advanced ceramics.
The Indian market for advanced ceramics is experiencing a CAGR of 5.6%. The unique properties of advanced ceramics, coupled with infrastructure development and sustainable initiatives, create opportunities for manufacturers, suppliers, and industry stakeholders in the country.
Recent Development
- CoorsTek, Kyocera Corp, Corning IncMorgan Advanced Materials, Murata Manufacturing Co. Ltd, Ceram Tec., Ceradyne Inc., and others are significant players in the worldwide advanced ceramics industry. Given several competitors, the market is extremely competitive. While global companies account for a sizable share of the market, regional players are active in key growing areas, especially Asia Pacific.
- CoorsTek announced the expansion of its production footprint in Benton, Arkansas, in April 2021. Construction on a US$ 26.0 million building extension at the Benton location for expanded production operations in the aerospace and defense industries was finished in 2020. The investment in the 230,000-square-foot facility is around US$ 9.0 million.
- CoorsTek announced the development of its production facilities in Southeast Asia in February 2021. The first phase of the 400,000-square-foot complex in Thailand’s Rayong province began in February 2021. The launch of our Thailand factory establishes a vital manufacturing center for CoorsTek’s continuous supply of high-quality engineered ceramics throughout Southeast Asia.
Key Companies Profiled
- CoorsTek
- Kyocera Corp
- Corning Inc.
- Morgan Advanced Materials
- Murata Manufacturing Co. Ltd
- Ceram Tec.
- Ceradyne Inc.
- AGC Ceramics Co. Ltd.
- Elan Technology
- Nishimura Advanced Ceramics Co. Ltd.
Contact Sales for Further Assistance in Purchasing this Report! https://www.futuremarketinsights.com/checkout/300
Key Segments Covered in the Advanced Ceramics Market Report
By Class:
- Coatings
- Monolithic
- Advanced Ceramics Matrix Composites
- Other Advanced Ceramics Classes
By Material:
- Silicon Carbide
- Alumina
- Zirconia
- Titanate
- Other Advanced Ceramics Material
By End-use Industry:
- For Medical Use
- For Transportation
- For Electrical & Electronics Manufacturing
- For Defense & Security
- For Chemical Manufacturing
- For Environmental Use
- For Other End-use Industries
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
