Felton, 2 March 2019 -
Technical Ceramics Market size is
expected to value at USD 134.58 billion by 2024, during the forecast period.
The market is subject to witness a substantial growth due to cost-effectiveness
associated with the use of advanced ceramics products and longer life cycle,
and growing competition in the market. Growing demand of the advanced ceramics
or technical ceramics in the automotive sector is one of the key factor
propelling the market growth in recent years.
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The adoption of the technical ceramics mainly in the
developing countries along with expansion of the automobile industry in the
region owing to the recent economicgrowth are spiraling the market demand for
the technical ceramics industry over the forecast period. The adoption of the
technical ceramics as an alternative to the plastics and metals in automotive
and healthcare market segment is attributing to the advancement of the market.
Globally, the market is predicted to grow at high CAGR in forecast period,
providing numerous opportunity for market players to invest for research and
development in the technical ceramics market.
The growing awareness about the benefits offered with the
use of the technical ceramics over the conventional products are driving the
demand for the technical ceramic market in coming years. The advantage
associated with the use of the technical ceramics are bio-degradability,
durability, reliability, and superior tensile strength. Most of technical
ceramics are eco-friendly in nature in comparison with conventional materials,
and stringent governmental regulation to limit environmental hazards with use
of traditional materials such as plastics is fueling the growth of the
technical ceramics during the forecast period. The application of technical
ceramics has found its way in the electronic andelectrical industry as well.
Growing use of the electronic devices by consumers will further push market
demand of technical ceramics.
Excessive adoption of the coated machinery materials, along
with shifting inclination towards technical coatings by consumers and recent
developments in various deposition processes, are opening numerous potential
opportunities for the technical ceramics industry in coming years. Some of the
critical factors associated with market limitation are numerous governmental
regulations in regards to the environmental impact and growing competition from
other types of materials.
The technical ceramics are also referred as engineering
ceramics or industrial ceramics or advanced ceramics. Technicalceramics are
considered as highly-sophisticated ceramicsconsisting of distinctive
characteristics such as mechanical, electrical, thermal and bio-chemical that
are suitable for various industrial applications.
The technical ceramics market is divided into regional
market segment such as North America, Europe, Asia-Pacific, Latin America and
Africa. North America has shown major growth in recent years owing to the use
in the environmental and medical sectors and growing emphasis on research for
new product development. Asia-Pacific region is predicted to hold major market
share in the technical ceramics industry with massive growth in forecast
period.
Countries such as India, China and Singapore are leading the
Asia-Pacific’s market with growing competition in manufacturing, reduced costs,
rising economic growth in the region, and constant demand in the end-user
industries.The key players in the technical ceramics market are Kyocera Co.,
CeramTec Co., Morgan Advanced Materials Inc., McDanel Co., and Saint-Gobain
Ceramic Materials.
Market Segment:
Material Outlook
(Revenue, USD Million; 2013 - 2024)
• Alumina ceramics
• Titanate
ceramics
• Zirconate
ceramics
• Ferrite ceramics
• Aluminum nitride
• Silicon carbide
• Silicon nitride
Product Outlook
(Revenue, USD Million; 2013 - 2024)
• Monolithic
ceramics,
• Ceramic coatings
• Ceramic Matrix
Composites
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