Advanced Ceramics Market Outlook, Restraints, Demand And Forecast By 2023

Advanced ceramics market includes highly-developed ceramic materials, which possess high strength. These ceramics are lightweight, non-metallic, organic, and corrosion-resistant. These materials are formed via various raw materials that include alumina, titanate, zirconia, silicon carbide, aluminium nitride, silicon nitride, magnesium silicate and pyrolytic boron nitride. The silicon carbide-based advanced ceramics is expected to grow at the highest CAGR during the forecast period owing to its low weight, high strength, low thermal expansion, excellent thermal shock resistance, high wear temperature and high chemical resistance.

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Advanced Ceramics Market is expected to showcase a significant growth during the forecast period (2017-2023). The market growth can be attributed to the increasing use of advanced ceramics as an alternative to metals and plastics. Other factor which is driving the growth of the market includes the growing medical industry. Advanced ceramics are used in joint implantation and dental implants, due to properties such as low wear resistance and chemical inertness.

Furthermore, the market on the basis of class is segmented as monolithic ceramics, ceramic matrix composites and ceramic coatings. Monolithic ceramics accounts for majority of the market share in this segment owing to its various lining and insulation application as they can withstand extremely high temperature. They are even resistant to abrasion and thermal shock.

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The major restraint observed in the study is that technical ceramics cannot be reused or recycled in the same end-user application. Due to the long lifespan of these products and mechanical and optical properties of technical ceramics, the different composites that are used in various end-use industries face the issue of recyclability. This is a major challenge for the global advanced ceramics market. Additionally, internal wear and tear and cracks in ceramic structures are hard to find.

The global advanced ceramics market has a lot of potential scope in it. The major players in the advanced ceramics market are adopting significant competitive strategies such as merger, acquisitions and joint ventures to hold a competitive edge in the global market. For instances, in November 2015, Oerlikon acquired the advanced ceramics business unit of Laser Cladding Services, LLC.

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