Advanced Ceramics Market Size, Share, Industry, Forecast and outlook (2024-2031)

Market Overview

The Global Advanced Ceramics Market is expected to grow at a high CAGR of 5.3%  during the forecasting period (2024-2031). Advanced Ceramics, also known as Technical Ceramics or Engineered Ceramics, are specialized ceramics that stand out due to high resistance to corrosion, erosion, and wear electrical and thermal insulation at high temperatures, and high heat resistance. Many industries including chemical, industrial, medical, electronic, electrical engineering, electric heating, and sanitary rely on advanced ceramics to solve their difficult problems.

Market Scope

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Market Drivers

• The increasing use of advanced ceramics in various end-user industries such as medical, electronic, electrical, and machinery industries is the major driver of the advanced ceramics market.
• Advanced ceramics are being adopted at a higher rate as an alternative to metals and plastics, due to growing awareness regarding their eco-friendly benefits such as biodegradability, durability, and high tensile strength.
• For instance, in June 2018, Morgan Advanced Materials launched a new low-bio persistent fiber, Superwool® XTRA, which provides high-temperature tolerance, improved pollutant resistance, and a chemical formulation that meets the stringent Environmental Health & Safety requirements. Moreover, technological advancements in enhancing the properties of ceramics are boosting market growth.
• However, the substantial capital investments required, regulatory constraints, and environmental issues caused by the ceramics might hamper the market potential for the technical ceramics market.
• Moreover, the availability of materials such as metal alloys and a few carbon-enhanced plastics, which are a cheaper alternative when compared to advanced ceramics, hinders the growth of the market.
• The extensive use of coated machinery components has been shifting the preference of consumers to advanced coatings, and the technological advancements in the deposition processes are expected to open new market opportunities.

Segmentation Analysis

• The global advanced ceramics market is segmented by material, class, and application.
• By material, the global advanced ceramics market is segmented into titanite, alumina, zirconia, silicon carbide, and others. Alumina ceramics are commonly used advanced ceramic materials due to their excellent physical properties.
• Alumina ceramics are employed in many end-use industries such as transportation, chemical, electrical & electronics, and medicine.
• By class, the global advanced ceramics market is segmented into monolithic ceramics, ceramic coatings, ceramic matrix composites, and others. Monolithic ceramics occupy the major share of the market, owing to their increasing use as an alternative to metals and plastics and increasing demand from the medical industry.
• However, factors such as high cost and recyclability issues may hinder the growth of the monolithic class of advanced ceramics.
• By application, the global advanced ceramics market is segmented into electrical equipment, catalyst supports, electronic devices, wear parts, engine parts, filters, and others.

Geographical Share

• The global advanced ceramics market is segmented into regions like North America, Europe, Asia Pacific, South America, and others. North America is the largest market owing to its high adoption in various end-user industries.
• The Asia Pacific is the fastest-growing region owing to the rapid industrialization in these regions. The growth of major end-use industries such as construction and infrastructure in Asian countries such as China and India is expected to drive the advanced ceramics market. Further, the increased technological innovations for the use of advanced ceramics in nanotechnologies and the higher adoption of wind turbines and other pollution control applications are expected to increase the demand for advanced ceramics in the Asia Pacific region.

Market Companies and Competitive Analysis

• The global advanced ceramics market is highly competitive with the presence of major market players in all regions.
• The key market players focus on developing new technologies for unique applications.
• For instance, in February 2018, CeramTec acquired the UK electro-ceramics business from Morgan Advanced Materials, which is expected to bring new technological developments and help in manufacturing an even broader spectrum of products and applications.

A few of the key market players in the global advanced ceramics market are:

• Advanced Ceramic Manufacturing, LLC.
• Asahi Glass Co.
• Corning Inc.
• Ceramtec GmbH
• Coorstek Inc.
• Kyocera Corporation.
• Morimura Group (Japan)
• Morgan Advanced Materials PLC
• Rauschert Steinbach GmbH
• Saint-Gobain Ceramic Materials

Key Takeaways from this report

• Alumina-based advanced ceramics are the leading segment owing to their higher adoption rate in many end-user industries.
• North America is the leading geographic segment, owing to the major share.
• In terms of growth rate, the market will expand rapidly in APAC owing to rapid industrialization and increased adoption in the construction industry.

Scope of the Report

• The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Product Benchmarking, and company profiles.
• Advanced Ceramics Market is segmented based on the material as titanate, alumina, zirconia, silicon carbide, and others. Based on the application the market is segmented as – electrical equipment, catalyst supports, electronic devices, wear parts, engine parts, filters, and others.
• Based on the class the market is categorized as monolithic ceramics, ceramic coatings, ceramic matrix composites, and others. Based on geography the market is segmented into – North America, South America, Europe, Asia Pacific, and the Middle East and Africa.