Press release
Advanced Ceramics Market: Industry Outlook, Growth Prospects and Key Opportunities
Advanced ceramics are widely used for military applications however; it faces many challenges such as component cost, consistent material properties, environmental impact and collection of long term data in finding applications in broader military and commercial use. However, extensive research is being carried out by leading companies for finding new applications for advanced ceramics.
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Majority of the advanced ceramics manufactured are consumed for electronic applications and they are called as electroceramics. Electroceramics accounted for more than three fourth of the total advanced ceramics manufactured. Growing electronics market has lead to the use of alternative materials, one of which is advanced ceramics. Thus, the developing electronic market is expected to boost the growth of the overall advanced ceramic market.
Medical products are significant consumers of advanced ceramics due to its increasing use in manufacturing joint implants and in-dental procedures. Medical products market is expected to be the fastest growing consumer of advanced ceramics over the next few years. The growing demand for high pressure and high temperature environment has further augmented the growth of this market as advanced ceramics are known to offer greater wear resistance and compressive strength just as the metals can provide.
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Companies such as Kyocera Corp, Murata Manufacturing Co. Ltd, Corning Inc., Coors Tek, Morgan Advanced Materials, Ceram Tec. and Ceradyne Inc. are the key participants of advanced ceramic market.
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