Ceramic Core Market is Forecasted to Reach US$ 0.7 billion in 2028, Says Stratview Research

The global ceramic core market is projected to witness a growth rate of 7.0% annually from 2023 to 2028, with an anticipated size of US$ 0.7 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global ceramic core market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 0.7 billion
Growth (CAGR): 7.0% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+

Segment Insights on the Ceramic Core Market:
The global ceramic core market is segmented based on product type, sourcing type, application type, industry type, and region.

Based on product type - The ceramic core market is segmented into SiO2-ZrSiO4, SiO2-Al2O3, and others. Among these product types, SiO2-Al2O3 is expected to remain the biggest product category in the coming years owing to its excellent resistance to high temperatures and stresses, which makes it suitable for applications, particularly where ceramic cores are exposed to extreme heat during the investment casting process.
Concurrently, SiO2-ZrSiO4 is preferred for high-performance applications, such as creating internal cavities and passageways within the cast components during the production of complex and high-precision components such as turbine blades and vanes. As a result, it is anticipated to witness the fastest growth in the market during the forecast period.

Based on the sourcing type - The market is segmented into in-house and outsourcing. Outsourcing can offer several advantages, such as cost savings, reduced capital investment in equipment and facilities, and access to expert knowledge and technology. This allows the company to focus on its core competencies while relying on the expertise of the outsourcing partner to provide high-quality ceramic cores.
As a result, outsourcing is predicted to remain the larger and faster growing in the market over the next five years. On the other hand, major companies in the investment casting business, such as Howmet Aerospace Inc. and PCC Airfoils LLC, have in-house ceramic core manufacturing capabilities.

Based on the industry type - The ceramic core market is segmented into aerospace & defense, industrial gas turbines, and others. Among these industry types, aerospace & defense is likely to remain the largest as well as the fastest-growing market category during the forecast period.
In aerospace & defense, these cores are crucial and are commonly used in investment casting processes for manufacturing complex and high-temperature-resistant components, such as turbine blades, vanes, and other critical components. The ceramic core is used to create intricate internal geometries in these parts.

To know the most attractive segments, visit:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest market for ceramic cores during the forecast period. This growth outlook is majorly attributed to the following-
- With the USA offering lucrative growth opportunities. The country boasts a robust aerospace & defense industry, where ceramic cores are extensively used in the manufacturing of critical components like turbine blades and vanes.
- In addition, the country is home to a large number of industry stakeholders, including leading market players, such as Morgan Advanced Materials, CoorsTek, Inc., Howmet Aerospace, Inc., and PCC Airfoils, LLC.
- The region is also the preferred manufacturing base of aerospace and industrial gas turbine manufacturers and their tier players, including raw material suppliers.
- On the contrary, Asia-Pacific is likely to be the fastest-growing region during 2023-2028, with China, Japan, and India being the major contributors. China, in particular, is likely to maintain its growth momentum in the coming years, owing to the flourishing local aerospace supply chain and the evolving presence of local players in the country.

Ceramic Core Market Drivers:

Some of the key drivers listed in the report are given below.
- The long-term outlook appears favorable with plenty of opportunities, propelled by an increase in the manufacturing of aircraft engines, an expected growth in the production rate of key programs (A320neo, B737 Max, A220, B787, and A350XWB), and the introduction of new aircraft programs (C919, MC-21, B777x, etc.).
- These factors have stimulated a heightened focus on ceramic cores and would help drive the market in the coming years, ultimately helping industry stakeholders cross their pre-pandemic levels by 2024.

Top Companies in the Ceramic Core Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• Avignon Ceramic SAS
• Capital Injection Ceramics Limited
• CeramTech GmbH
• CoorsTek, Inc.
• Howmet Aerospace, Inc.
• Lanik s.r.o
• Morgan Advanced Materials
• Noritake Co. Ltd.
• PCC Airfoils, LLC
• Ross Ceramics Limited

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Ceramic Core Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:

• Airfoils (Casting) Market: https://www.stratviewresearch.com/3310/airfoil-market.html

• Industrial Gas Turbine Market: https://www.stratviewresearch.com/1767/industrial-gas-turbine-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.