Global Advanced Ceramic Market to Grow at a CAGR of 6.7% During 2024-2032, Aided by the Growing Demand in Various End Use Industries

The global advanced ceramic industry is being driven by the growing demand from various end-use industries, including the medical and transportation sectors. Moreover, the growing product demand for applications in the clean technology industry is expected to further boost the industry growth. For instance, solid oxide fuel cells have advanced ceramics as a major constituent. Furthermore, the coronavirus pandemic has accelerated the growth of the medical equipment industry. This, in turn, has propelled the demand for advanced ceramics as well. For example, advanced ceramics played a vital role in acting as the carrier material that holds and transports blood probes in diagnostic equipments. Additionally, the ceramic matrix composites segment of the market has shown the potential of acting as a key market driver. This can be attributed to the various desirable properties of ceramic matrix composites like high toughness and great resistance to high temperatures.

Some of the major players in the industry include 3M Co (NYSE: MMM) and Corning Incorporated (NYSE: GLW). The growing R&D activities by the manufacturers have led to various developments in the industry, which, in turn, can positively influence the overall market in the near future. For instance, in November 2019, MATECH, a 44-year old Taiwanese company, announced the reception of an American patent for its production process of ceramic matrix composites. The firm made use of field-assisted sintering technology to fabricate silicon carbide ceramic matrix composite components, which showcase high modulus and low porosity. Owing to properties like better durability and greater resistance to extreme temperatures, these components are now applicable in industries for manufacturing various end-products like ballistic armours, friction materials, aircraft engines, stationary gas turbine engines, and others.

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Market Analysis by Material, Class Type, End Use, and Region:

• The market on the basis of material can be divided into alumina, titanate, zirconia, silicon carbide, aluminium nitride, silicon nitride, and others.

• Based on class type, the industry can be divided into monolithic ceramics, ceramic coatings, ceramic matrix composites, and others. 

• The market is divided based on end use into industrial, transportation, electrical and electronics, defence and security, medical, chemical, and others.

• The regional markets for advanced ceramic include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 

Key Findings of the Report:

• The growing focus on clean energy technology is expected to be a key driver for the market.

• The increasing demand for alumina is anticipated to bolster the industry growth.

• The rising electrical and electronics industry has the potential to bolster the market growth. 

• The Asia Pacific region is likely to provide enhanced growth opportunities for the market expansion in the forecast period.

Key Offerings of the Report:

• The EMR report gives an overview of the global advanced ceramic industry for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the materials, class types, end uses, and regions of advanced ceramic.

• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global advanced ceramic market are 3M Co., KYOCERA Corporation, Corning Incorporated, Materion Corporation, CoorsTek Inc., and International Ceramics Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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