The growing demand in electronics and electricals is set to drive the growth of the advanced ceramics market, as these materials offer superior properties like high thermal stability, durability, and electrical insulation, making them ideal for cutting-edge technological applications.
PORTLAND, Ore., Aug. 8, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Advanced Ceramics Market by Material (Alumina, Titanate, Zirconate, Ferrite, Aluminum Nitride, Boron Carbide, Silicon Nitride, Silicon Carbide and Others), Type (Monolithic Ceramics, Ceramic Matrix Composites, Ceramic Coatings and Others), and End-Use Industry (Electrical and Electronics Chemical Others, Transportation, Medical, Defense and Security, Chemical and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the advanced ceramics market was valued at $47.2 billion in 2023, and is estimated to reach $74.8 billion by 2033, growing at a CAGR of 4.8% from 2024 to 2033.
Prime determinants of growth
The global advanced ceramics market is experiencing growth due to increase in demand for durable and high-performance materials in electronics, automotive, aerospace, and healthcare industries. However, high production costs associated with advanced ceramics hinder the market growth to some extent. Moreover, the increase in focus on renewable energy sources, such as wind and solar power presents additional opportunities for the advanced ceramics market.
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Report coverage and details:
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Report Coverage
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Details
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Forecast Period
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2024–2033
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Base Year
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2023
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Market Size in 2023
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$47.2 billion
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Market Size in 2033
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$74.8 billion
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CAGR
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4.8 %
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No. of Pages in Report
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300
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Segments Covered
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Material, Type, End-Use Industry and Region.
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Drivers
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Growing demand in electronics and electricals Rising environmental and energy efficiency standards |
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Opportunity |
Increasing demand from medical and dental applications |
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Restraint
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High production costs |
Alumina segment is expected to maintain its dominance by 2033
By material, the alumina segment held the highest market share in 2023 and is likely to retain its dominance throughout the forecast period. The increasing demand for alumina material in the advanced ceramics market can be attributed to several key factors. Alumina offers exceptional mechanical properties, such as high hardness, strength, and wear resistance, making it ideal for applications requiring durability and reliability, such as in automotive components, electronics, and cutting tools. Secondly, alumina exhibits excellent thermal conductivity and resistance to high temperatures, making it suitable for use in extreme environments, including aerospace and industrial heating systems. In addition, the growing focus on sustainable and eco-friendly materials has spurred interest in alumina, which is abundant and recyclable, further driving its demand in the advanced ceramics market.
Monolithic ceramics segment is expected to maintain its dominance by 2033
By type, the monolithic ceramics segment held the highest market share in 2023 and is estimated to dominate during the forecast period. The increasing demand for monolithic ceramics in the advanced ceramics market is driven by their exceptional mechanical properties, high-temperature stability, and resistance to wear, corrosion, and thermal shock. Industries such as aerospace, automotive, and electronics favor monolithic ceramics for their durability and reliability in extreme conditions. In addition, their use in medical applications, such as dental implants and prosthetics, is growing due to their biocompatibility. The push for energy efficiency and environmental sustainability also boosts demand, as monolithic ceramics contribute to developing cleaner technologies and more efficient energy systems. These factors collectively fuel the market expansion.
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Electrical and electronics segment is expected to maintain its dominance by 2033
Based on end-use industry, the electrical and electronics segment held the highest market share in 2023 and is estimated to dominate during the forecast period. The increasing demand for advanced ceramics in the electrical and electronics industry is driven by several factors. Advanced ceramics offer superior thermal stability, electrical insulation, and resistance to wear and corrosion, making them ideal for high-performance electronic components. In addition, the miniaturization of electronic devices requires materials that can maintain performance at reduced sizes, a characteristic of advanced ceramics. The growth of renewable energy technologies and electric vehicles also boosts demand, as these ceramics are essential in batteries and power electronics. Furthermore, the rising adoption of 5G technology increases the need for advanced ceramics in communication devices and infrastructure.
Asia-Pacific is expected to experience the fastest growth throughout the forecast period
Based on region, Asia-Pacific was the fastest-growing region in terms of revenue in 2023. The increasing demand for advanced ceramics in the Asia-Pacific region is driven by several key factors. Rapid industrialization and urbanization have fueled the need for durable and high-performance materials in sectors like electronics, automotive, and construction. The rise of renewable energy projects, such as wind and solar power, also boosts the demand for advanced ceramics due to their thermal stability and electrical insulation properties. In addition, technological advancements and increased investment in research and development are leading to the production of sophisticated and cost-effective ceramic materials, further expanding their applications and driving market growth in the region.
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Leading Market Players: –
- 3M
- AGC Inc.
- Applied Ceramics
- Blasch Precision Ceramics
- CeramTec GmbH
- COIC International, Inc
- CoorsTek Inc.
- Corning Incorporated
- International Ceramic Engineering, Inc.
- KYOCERA Corporation
The report provides a detailed analysis of these key players in the global advanced ceramics market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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