Functional Ceramics market report USD 1022.1 billion in 2032, MURATA, SEMCO, TDK Corporation, Kyocera, Taiyo Yuden, Kemet, Vishay, JDI, SAMWHA, Yageo

The global ceramics market size was valued at USD 278.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.4% from 2021 to 2032. This market will reach at USD 1022.1 billion in 2032. The usage of ceramics in manufacturing products such as tiles and sanitary ware is likely to flourish owing to steady growth in residential construction around the globe.

Key Players Mentioned in the Functional Ceramics Market Research Report: MURATA, SEMCO, TDK Corporation, Kyocera, Taiyo Yuden, Kemet, Vishay, JDI, SAMWHA, Yageo

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Ceramics Market Trends
The global ceramics market is mainly driven by the rising investments in the residential and commercial sectors, which is propelling the demand for ceramic-based products including sanitary ware and tiles. Moreover, the product is witnessing high penetration in the medical industry as well for making bioimplants. Growing advancements in medical technology and the rising number of orthopedic and dental patients are augmenting the need for ceramic implants worldwide.

Ceramic is defined as a non-metallic and inorganic material that hardens over a period of time when heated at a high temperature. Ceramics are made in various combinations of clay to produce the desired mold shape. Ceramics can be segmented into traditional and advanced. Traditional ceramics are produced using natural materials such as clay, quartz, or feldspar, while advanced ceramics make the use of synthetic powders of silicon carbide, aluminum oxide, and silicon nitride. The structure of traditional ceramics depends on the clay composition, while alterations can be made in the chemical compounds used for producing advanced ceramics.

Functional Ceramics Market

Semiconductor Ceramic, Insulating Ceramics, High-temperature Superconducting Ceramic, Dielectric Ceramics, Piezoelectric Ceramics, Others.

Application as below

Electrical and electronics, Transpotation, Chemicals, Aerospace & Defense, Medical, Others

Application Insights
The sanitary ware segment dominated the market for ceramics and held the largest revenue share of more than 11.0% in 2020. Ceramics are used in producing various products under this segment such as shower plates, washbasins, bathtubs, and toilet bowls. In addition to being cost-efficient, ceramic-based products are easy to clean and maintain.

Furthermore, ceramic-based sanitary ware products are considered as suitable alternatives for steel and fiber sanitary ware owing to their superior characteristics such as abrasion resistance, corrosion resistance, glossy surface, and availability in various colors. Rising investments in luxury construction is expected to benefit product demand over the forecast period.

The abrasives segment is expected to progress at a CAGR of 3.9% in the market for ceramics over the forecast period. These are used in tools that are widely utilized in various operations such as grinding, cutting, dressing, polishing, sharpening, and dressing, particularly for metal, wood, glass, stone, and plastics. In addition, they are used to prepare surfaces for the application of paints or adhesives.
The Functional Ceramics report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country and sub-region during the estimated period.

North America (USA and Canada)
Europe (UK, Germany, France and the rest of Europe)
Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
Latin America (Brazil, Mexico, and the rest of Latin America)
Middle East and Africa (GCC and rest of the Middle East and Africa)

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Regional Insights
Asia Pacific dominated the market in past and this trend is anticipated to continue over the forecast period. The presence of growing economic powerhouses such as India, China, Thailand, and other South Asian countries is expected to drive the ceramics market in the region. Furthermore, the region is witnessing rapid growth and investments in the medical industry, which is further expected to promote market growth.

China is one of the fastest-growing healthcare markets in the world that is projected to grow at an annual CAGR of 13% over ten years. The country had the second-largest healthcare market in the world in 2019 with a total expenditure of up to USD 1.02 trillion. Thus, the healthcare industry of China is expected to offer potential growth opportunities to manufacturers of ceramics as they are used in medical components and equipment. This, in turn, is anticipated to drive the growth of the ceramic market in China from 2021 to 2028.

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