The global advanced ceramics market
is expected to reach USD 134.58 billion by 2024, according to a new report by
Grand View Research, Inc. Rising product demand in numerous end-use industries
on account of their longer life span, cost effectiveness as opposed to their
conventional counterparts is expected to have a positive impact on the market
over the next eight years.
Rising automobile demand among
consumers on account of changing lifestyle and increasing disposable income is
expected to fuel product need over the forecast period. In addition, the
product has been substituting metals and plastics in high performance
applications in the automotive sector which will propel industry growth over
the projected period.
Advanced ceramics have been gaining
high acceptance among consumers over the past few years due to rising awareness
regarding their benefits such as high tensile strength, biodegradability and
durability. Rising environmental concerns are expected to further fuel product
demand over the next eight years.
In depth research report
on Advanced Ceramics Market
Further key findings from the report
suggest:
·
Global advanced ceramics
market value was USD 56.70 billion in 2015 and is projected to reach USD 134.58
billion by 2024, growing at a CAGR of 10.2% from 2016 to 2024
·
Titanate ceramics are
expected to be the fastest growing material segment at a CAGR over 11.5% from
2015 to 2024 in terms of revenue on account of their increasing use as
capacitors. Rising need for energy storage globally is expected to boost
product demand
·
Monolithic ceramic market
was estimated at over USD 45 billion in 2015. The product is employed in
various lining and insulation applications as they can withstand extremely high
temperatures, and are resistant to abrasion as well as thermal shock. These
factors are expected to positively impact industry growth over the forecast
period.
·
Bioceramics application
segment was valued at over USD 2 billion in 2015. It is expected to be the
fastest growing segment on account of its increasing use in hip and joint
replacements
·
Medical sector was
estimated at over 6 billion in 2015. Rising demand from this industry for
various applications such as tissue & bone replacements, and dental
implants is expected to propel product demand over the next eight years.
·
North America was the
second largest market and is expected to grow at a CAGR over 9.5% from 2016 to
2024 in terms of revenue. Strict environmental regulations have led to
increased product use as it aids in pollution control. In addition, stringent
emission standards in Europe and North America are expected to provide growth
opportunities for ceramic filters over the next eight years.
·
In November 2015, Oerlikon
signed an agreement to acquire the advanced ceramics business of Laser Cladding
Services, LLC. In July 2015, Morgan Advanced Materials invested in the
semiconductor market. to optimize its manufacturing capabilities
 |
U.S. advanced
ceremics market revenue, by application, 2013 - 2024 (USD Million)
|
Grand View Research has segmented the
global advanced ceramics market on the basis of product, material, application
and region:
Advanced Ceramics Material Outlook (Revenue, USD Million, 2013 - 2024)
·
Alumina ceramics
·
Titanate ceramics
·
Zirconate ceramics
·
Ferrite ceramics
·
Others
Advanced Ceramics Product Outlook (Revenue, USD Million, 2013 - 2024)
·
Monolithic ceramics
·
Ceramic coatings
·
Ceramic matrix composites
Advanced Ceramics Application Outlook (Revenue, USD Million, 2013 - 2024)
·
Electrical equipment
·
Catalyst supports
·
Electronic devices
·
wear parts
·
Engine parts
·
Filters
·
Bioceramics
·
Others
Advanced Ceramics End-use Outlook (Revenue, USD Million, 2013 - 2024)
·
Electrical &
electronics
·
Automotive
·
Machinery
·
Environmental
·
Medical
·
Others
Advanced 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
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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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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