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Porous Ceramics Market 2024: Trends, Industry Insights, and Growth Drivers
Porous Ceramics Market 2024
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According to The Business Research Company's, The porous ceramics market size has grown rapidly in recent years. It will grow from $8.01 billion in 2023 to $8.97 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to demand in filtration and separation applications, growth in the oil and gas industry, expansion of ceramics in aerospace and defense, use in high-temperature and corrosive environments, regulatory standards for air and water quality..
The porous ceramics market size is expected to see rapid growth in the next few years. It will grow to $13.95 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to sustainable and eco-friendly porous ceramic materials, customized ceramics for specific filtration needs, growth in renewable energy and fuel cell applications, expansion of ceramics in the automotive sector, increased use in 5g infrastructure and sensors.. Major trends in the forecast period include nanoporous ceramics for advanced filtration, regulatory compliance in ceramic material safety, 3d printing and additive manufacturing in ceramics, personalized ceramics for precision medicine, transparent and optically functional ceramics..
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Market Drivers and Trends:
The increasing demand for medical equipment will propel the growth of the porous ceramic equipment market. Medical equipment refers to the devices used for different medical purposes. Porous ceramics are used in medical devices for total hip replacement, dental implants and restorations, bone fillers, and scaffolds for tissue engineering. As a result, increasing demand for medical equipment increases the demand for porous ceramics. For instance, according to the India Brand Equity Foundation (IBEF), an India based government agency, the medical devices industry is expected to reach $50 billion at a CAGR of 37% by 2025, up from $10.36 billion in 2020. Therefore, the increasing demand for medical equipment in the healthcare sector is driving the growth of the porous ceramic market.
Strategic partnerships have emerged as a key trend gaining popularity in the porous ceramics market. Major companies operating in the porous ceramics sector are looking for partnerships to strengthen their position in the market. For instance, in August 2021, Fortify, a US-based 3D printing startup, partnered with Tethon 3D, a US-based company that provides porous ceramic 3D printed materials. The partnership allows both companies to serve a variety of additive manufacturing applications as well as classified projects with government agencies.
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Major Key Players of the Market:
Rauschert GmbH, Noritake Co. Limited, Selee Corporation, CoorsTek Inc., Innovacera Advanced material Co. Ltd., Nishimura Advanced Ceramics Co. Ltd., Morgan Advanced Materials plc, Superior Technical Ceramics Corp., Toto Ltd., NGK Spark Plug Co. Ltd., Refractron Technologies Corp., Lam Research Corporation, Lianyungang Henka Ceramics Technology Co. Ltd., Kyocera Corporation, ThomasNet, Saint-Gobain Company, Corning Incorporated, CeramTec Ltd., Ibiden Co. Ltd., Pingxiang Chemshun Ceramics Co. Ltd., Sentro Tech Corporation, Ferro Corporation, McGeoch Technology Limited, SCHOTT AG, Mantec Technical Ceramics Ltd., TQ Abrasive Machining, Alumina Products Inc., Teceram Ltd., Advanced Ceramics Manufacturing, Precision Ferrites & Ceramics Inc.
Porous Ceramics Market 2024 Key Insights:
• The porous ceramics market size is expected to see rapid growth in the next few years. It will grow to $13.95 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%.
• Fulfilling Healthcare Needs The Surging Demand For Porous Ceramics In Medical Equipment
• Elevating The Porous Ceramics Market Fortify And Tethon 3D's Synergistic Partnership
• Asia-Pacific was the largest region in the porous ceramics market in 2023
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