Advanced Ceramics Market Future Trends, Business Strategies and Opportunities through 2018-2027
This report of Fact.MR also offers a detailed forecast of the advanced ceramics market for the period, 2018 to 2027. The advanced ceramics market is envisaged to record an impressive CAGR of nearly 7% through 2027. As the shift toward low-carbon economy becomes pervasive, key players in the advanced ceramics market are eyeing potential gains from the piezoelectric space. Government and private equity investments in the energy-harvesting technologies have significantly advocated developments in piezoelectric sensors and transducers, in turn alluding bright prospects for advanced ceramics in the electronics and power applications.
Monolithic Ceramics at the Forefront, Despite Remarkable Sales Prospects of Ceramic Coatings and CMCs
Monolithic ceramics prevail as the preferred class of advanced ceramics, with significant evolution in their development patterns. Enhanced performance attributes of monolithic ceramics, including stability, flexibility, toughness, and resilience, continue to underpin their supremacy over other advanced ceramic variants. According to the study, despite remarkable sales prospects foreseen for the ceramic coatings and ceramic matrix composites (CMCs), monolithic ceramics will continue to spearhead the advanced ceramics market, with over 80% of overall volume sales.
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Advanced ceramics consumption in industrial and metallurgical applications can be attributed to remarkable advances in alloy and metal manufacturing, which have paved ground for modern-day revolution in material technologies. The rise of smart factories is another demand determinant of advanced ceramics, as technologies such as artificial intelligence, IoT, robotics and automation gain momentous palpability.
Ceramic coatings and CMC sales are likely to record a relatively faster growth in sales, as these have been deemed to hold higher specific strength over larger temperature range, along with greater damage tolerance, than monolithic ceramics. However, the affordable nature of monolithic ceramics compared to other variants, and higher fracture toughness, will continue to underpin their reign in the advanced ceramics market.
Alumina ceramics will continue to clasp a significant share of the advanced ceramics market, backed by the fact that alumina-based composites are integral requirements for fabrication of monolithic specimens. Popularity of alumina ceramics as a desirable material is undergird by its ability to form convolute shapes, while facilitating transparency and precision at both large and small dimensions, at reduced cost. Silicon nitride-based composites have also been a vital component of monolithic ceramics, which in turn has added to their popularity in the advanced ceramics market. Currently, alumina ceramics and silicon nitride collectively account for nearly 6 in 10 MT of advanced ceramics sold worldwide.
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APEJ Reigns Supreme in Advanced Ceramics Consumption
Sovereignty of Asia-Pacific excluding Japan in the advanced ceramics market shows no signs of abating, underpinned by key aspects that include competitive manufacturing prices, significant economic growth, and rapid momentum of end-use verticals in the region. With the aim of region's developing economics such as China and India to become global leaders in automobile manufacturing in terms of cutting edge vehicle electrification technologies, demand for advanced ceramics will continue to remain robust in the region. Apart from demand for electroceramics, resurgent growth in the residential construction, coupled with various infrastructure development projects, is a significant growth determinant for the advanced ceramics market in APEJ.
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