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Advanced Ceramics Market Size, Share, Growth, Latest Trends, Industry Analysis By 2033
Advanced Ceramics Market
Advanced Ceramics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $106.67 billion In 2028 At A CAGR Of 5.7% :
The advanced ceramics market size has grown strongly in recent years. It will grow from $80.30 billion in 2023 to $85.34 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to increasing use of ceramics coatings, rising sales of high-performance ceramics, the rising demand for the product from the automotive and medical industries, manufacturers massive investment on development of healthcare applications, and escalating demand for zirconia in the medical industries.
The advanced ceramics market size is expected to see strong growth in the next few years. It will grow to $106.67 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to growing demand for electro ceramics, rising demand from medical and electronics sectors, advanced ceramics are preferred in the joint replacement process, rise in use as alternative to metals and plastics, eco-friendliness and reliability of use. Major trends in the forecast period include increasing use in nanotechnology, innovative product development, the rising demand for ceramics from the field of electro ceramics, growing the adoption of advanced ceramics in aircraft and defense.
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Advanced Ceramics Market Major Segments
The advanced ceramics market covered in this report is segmented -
1) By Material: Alumina, Titanate, Zirconia, Silicon Carbide
2) By Application: Monolithic Ceramic, Ceramic Coatings, Ceramic Matrix Composites, Ceramic Filters
3) By End-user Industry: Electrical and Electronics, Transportation, Medical, Industrial, Defense and Security, Chemical, Other End-user Industries
Key Driver - The Impact Of Automotive Industry Demand On Advanced Ceramics Market Growth
The rising demand in the automotive industry is expected to propel the growth of the advanced ceramics market going forward. The automotive industry is a sector of the economy that designs, develops, manufactures, markets, and sells motor vehicles. Advanced ceramics offer superior properties such as high strength, thermal resistance, and lightweightness, making them ideal for various automotive applications, including engine components, exhaust systems, and brake systems. For instance, in March 2022, according to the European Automobile Manufacturers Association, a Belgium-based automobile industry association, US auto plants manufactured around 6.3 million passenger cars in 2021, an increase of 3.1% compared to 2020. Therefore, the rising demand in the automotive industry is driving the growth of the advanced ceramics market.
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Prominent Trend - Innovative Advancements In Advanced Ceramics Starfire Systems Inc. Introduces Hafnium Carbide As A Game-Changing Ultra-High-Temperature Ceramic Forming Precursor
Major companies operating in the advanced ceramics market are developing innovative products, such as ceramic-forming precursors, that benefit weight reduction applications. A ceramic-forming precursor is a pre-ceramic polymer that creates ceramic materials through pyrolysis. For instance, in June 2021, Starfire Systems Inc., a US-based specialty material company focused on polymer-derived ceramics (PDC), launched Hafnium Carbide, a new ultra-high-temperature ceramic forming precursor. These materials have high-temperature resistance and are ideal for aerospace and defense applications. Hafnium carbide ceramic polymer can make ceramic matrix composites and high-purity powder, providing the ultimate high-temperature capability. At 200°C or lower, the HfC precursor cures. To create a crystalline hafnium carbide ceramic with a high ceramic yield, the cured hafnium carbide ceramic polymer can be heated to 1600°C in an inert atmosphere.
Advanced Ceramics Market Players
Major companies operating in the advanced ceramics market are 3M Company, KYOCERA Corporation, Murata Manufacturing Co. Ltd., Corning Incorporated, AGC Ceramics Co. Ltd., Materion Corporation, Morgan Advanced Materials Plc, Ferrotec Holdings Corp., CeramTec GmbH, MARUWA Co. Ltd., Saint-Gobain Ceramic Materials, Blasch Precision Ceramics Inc., Applied Ceramics Inc., Dyson Technical Ceramics Ltd., Elan Technology, McDanel Advanced Ceramic Technologies, International Syalons (Newcastle) Ltd., Momentive Technologies, Rauschert GmbH, Advanced Ceramics Manufacturing, BCE Special Ceramics GmbH, Nishimura Advanced Ceramics Co., Ltd., Ortech Advanced Ceramics, TechCeramic, Ceradyne Inc., Compagnie de Saint Gobain SA, Small Precision Tools Inc., Vesuvius, Wonik QnC Corporation
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Largest And Fastest Growing Region In The Market
North America was the largest region in the advanced ceramics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the advanced ceramics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Advanced Ceramics Market Report Structure
3. Advanced Ceramics Market Trends And Strategies
4. Advanced Ceramics Market - Macro Economic Scenario
5. Advanced Ceramics Market Size And Growth
…..
27. Advanced Ceramics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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