Press release
Technical Ceramics Market Will Witness Growth Based On Rising Technical Ceramics Use As A Substitute To Plastics And Metals In Numerous High-Performance Applications In The Medical And Automotive Sector Till 2024
These products have been gaining acceptance over the past few years on account of growing awareness regarding their benefits such as biodegradability, durability, and high tensile strength. Rising environmental concerns coupled with stringent regulations by governments in North America and Europe are expected to further propel product demand over the next eight years.
Further key findings from the report suggest:
• The global technical ceramics market value was USD 56.7 billion in 2015 and is expected to grow at a CAGR of over 10% from 2016 to 2024.
• Titanates are expected to be the fastest growing material segment from 2016 to 2024 at a CAGR over 11% in terms of revenue owing to their increasing use as capacitors. Rising need for energy storage worldwide is expected to propel product demand.
• The monolithic ceramic market was estimated at over USD 45 billion in 2015. The product is employed in numerous insulation and lining applications as they are resistant to thermal shock as well as abrasion and can withstand tremendously high temperatures. These factors are expected to positively impact growth over the forecast period.
• Bioceramics application was valued at above USD 2 billion in 2015. The segment is expected to grow at a fast pace over the next eight years on account of its rising use in joint and hip replacements.
• Medical sector demand for the product was estimated at above 6 billion in 2015. Increasing need from this industry in various applications such as dental implants and bone & tissue replacements is expected to propel product industry over the forecast period.
• North America was one of the largest markets for the product and is expected to grow at a CAGR of over 9% from 2016 to 2024. Stringent environmental regulations have led to increased product use as it aids in controlling pollution. Additionally, stringent emission standards in North America and Europe are expected to provide growth opportunities for the product over the next eight years.
• In November 2015, Oerlikon Metco signed an agreement with Laser Cladding Services, LLC to acquire its traditional ceramics business. In July 2015, Morgan Advanced Materials invested in the semiconductor market in order to improve its production capabilities
Grand View Research has segmented the global technical ceramics market on the basis of material, product, application, end-use and region:
Technical Ceramics Material Outlook (Revenue, USD Million, 2013 - 2024)
• Alumina ceramics
• Titanate ceramics
• Zirconate ceramics
• Ferrite ceramics
• Aluminum nitride
• Silicon carbide
• Silicon nitride
Technical Ceramics Product Outlook (Revenue, USD Million, 2013 - 2024)
• Monolithic ceramics
• Ceramic coatings
• Ceramic matrix composites
Technical Ceramics Application Outlook (Revenue, USD Million, 2013 - 2024)
• Electrical equipment
• Catalyst supports
• Electronic devices
• Wear parts
• Engine parts
• Filters
• Bioceramics
• Others
Technical Ceramics End-use Outlook (Revenue, USD Million, 2013 - 2024)
• Electrical & electronics
• Automotive
• Machinery
• Environmental
• Medical
• Others
Technical Ceramics Regional Outlook (Revenue, USD Million, 2013 - 2024)
• North America
o U.S.
• Europe
o Germany
o UK
• Asia Pacific
o China
o India
• Latin America
o Brazil
• MEA
o Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Press Contact
Sherry James - Corporate Relations Specialist
28 2nd Street, Suite 3036
San Francisco, CA 94105
United States
Phone: 1-415-349-0058
Email: sales@grandviewresearch.com
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