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Advanced Ceramics Market Analysis: $108.74 Billion by 2029 With a CAGR of 5.2%
Advanced Ceramics
Advanced Ceramics Market Value Projection: How Much Will the Market Size by 2025?
Over the recent years, the size of the advanced ceramics market has been exhibiting consistent growth. The market, which is expected to be worth $85.34 billion in 2024, is projected to increase to $88.92 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 4.2%. The notable growth seen over the history of the market can be credited to factors such as the rising demand for ceramic coatings, increasing sales of high-functioning ceramics, a surge in demand from the automotive and medical sectors, significant manufacturer investments in healthcare applications, and the growing demand for zirconia within the medical industry.
What Will Be the Market Growth Forecat for Advanced Ceramics in 2029?
Over the coming years, the advanced ceramics market is expected to witness robust growth, expanding to a whopping $108.74 billion by 2029 with a compound annual growth rate (CAGR) of 5.2%. This projected growth during the forecast period can be due to various factors such as the escalating demand for electro ceramics and the increasing need from the medical and electronics sectors. The preference for advanced ceramics for joint replacement procedures, its rising utilisation as an alternative to metals and plastics, and its environmental friendliness and dependability are also contributive factors. Key trends for the forecasted period include its growing usage in nanotechnology, innovative product development, and the surging demand from the electro ceramics field. Additionally, the surging adoption of advanced ceramics in the aviation and defense sectors also plays a part in this growth.
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What Are the Core Competitive Drivers in the Advanced Ceramics Industry?
The surge in automotive sector needs is predicted to bolster the expansion of the advanced ceramics market. This sector, responsible for the creation, design, production, marketing, and sale of motor vehicles, is turning towards advanced ceramics due to their exceptional features. These ceramics bring much-needed benefits like durability, heat resilience, and light weight, making them perfect for various vehicle applications such as engine parts, brake systems, and exhaust systems. For instance, the European Automobile Manufacturers Association, a Belgium-based group working on behalf of car manufacturing interests in Europe, reported in June 2023 that about 13 million Europeans are working in the motor industry, equivalent to 7% of all EU employment. This sector provides 11.5% of manufacturing jobs in the EU, approximately 3.4 million positions. Producing 13.1 million cars, vans, buses, and trucks every year, the EU has established itself as a strategically important industry. The European automobile sector, an international frontrunner, creates a staggering €101.9 billion trade surplus through high-quality products labeled Made in Europe. Consequently, the escalating demand in the auto industry is fueling the expansion of the advanced ceramics market.
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Which Advanced Ceramics Market Segment Is Projected to See the Fastest Growth?
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
Subsegments:
1) By Alumina: High Purity Alumina, Alumina Ceramics For Electrical Insulation, Alumina Structural Ceramics
2) By Titanate: Barium Titanate, Lead Titanate, Strontium Titanate
3) By Zirconia: Yttria-Stabilized Zirconia (YSZ), Partially Stabilized Zirconia (PSZ), Zirconia Toughened Alumina (ZTA)
4) By Silicon Carbide: Reaction Bonded Silicon Carbide (RBSC), Sintered Silicon Carbide, Silicon Carbide Whiskers
Which Trends Are Opening New Opportunities in the Advanced Ceramics Market?
Leading corporations in the advanced ceramics marketplace are honing in on driving innovation, with a prime focus on maintaining uniform quality to provide dependability and stability across a multitude of applications. In this context, uniform quality signifies maintaining consistent material properties, performance, and reliability in every product batch. For instance, ALTEO Holding, headquartered in France, unveiled HYCal in October 2023 specifically targeting the advanced ceramics marketplace. This new brand of specialty alumina is intended to boost the performance of advanced ceramics. The products are crafted with a uniform quality and trustworthiness in mind to serve various sectors such as electronics and healthcare, possessing high mechanical robustness and unparalleled dielectric properties. Customized solutions can also be provided to address particular customer needs.
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Who Are the Leaders in the Advanced Ceramics Market?
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
Which Regional Advanced Ceramics Markets Offer the Greatest Growth Potential?
North America was the largest region in the advanced ceramics market in 2024. 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.
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