Advanced Ceramics Market Overview, Demand, Global Industry Share, COVID-19 Analysis and Growth 2023
Advanced Ceramics Market Overview
Advanced ceramics are substances which exhibit special properties such as hardness, low electrical conductivity, brittleness, and strength. They are developed through new material science approach which makes them electrically conductive, unlike traditional ceramics. Advanced ceramics find application across diverse end-user industries which is the primary factor boosting the growth of the market. Properties such as high tensile strength, thermal stability, corrosion resistance, and ballistic protection make them ideally suited for application in numerous industrial use cases. The global advanced ceramics market is expected to showcase a high compound annual growth rate and reach a significant valuation over the forecast period of 2017-2023, projects Market Research Future (MRFR) in a minutely analyzed study.
The automotive and electrical & electronic industry are the major end users of the global advanced ceramics market. Heightened demand from these industries coupled with the replacement of plastics and metals with ceramics in the automotive sector is key to the growth of the global advanced ceramics market.
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Advanced Ceramics Market Competitive Landscape
The key players in the global advanced ceramics industry include Superior Advanced Ceramics (U.S.), CoorsTek Inc. (U.S.), 3M Company (U.S.), CeramTec GmbH (Germany), Kyocera Corporation (Japan), Saint-Gobain Ceramic Materials (U.S.), Morgan Advanced Materials Plc (U.K.), Dyson Advanced ceramics Limited (U.K), Rauschert Steinbach GmbH (Germany), and NGK Spark Plug Co., Ltd. (Japan).
Advanced Ceramics Market Segmentation
The global COVID-19 analysis on advanced ceramics market report has been segmented based on product type, material, and end user.
By product type, the advanced ceramics market has been segmented into monolithic ceramics, ceramic matrix composites, ceramic coatings, and others.
By material, the global advanced ceramics market has been segmented into advanced alumina ceramics; zirconate advanced ceramics, advanced ferrite ceramics, titanate advanced ceramics, and others.
By end-user, the global advanced ceramics market has been segmented into electrical & electronics, machinery, pharmaceuticals, military & defence, automotive and others.
Advanced Ceramics Market Regional Analysis
By region, the global advanced ceramics market has been segmented into North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
APAC is expected to showcase rapid growth and register the highest CAGR over the forecast period. The flourishing automotive and electronic industry in APAC is generating huge demand for advanced ceramics. Additionally, APAC allows manufacturing facilities to be set up in the region through its supportive policies, and relatively cheap labor. A booming population, increasing per capita income, and encouraging government regulations are supporting the growth of the market. Furthermore, expanding defense budget is creating a favorable environment for the growth of the market since advanced ceramics are increasingly finding their application in modern armors.
North America is an important growth pocket for advanced ceramics. Developed end user industries in the region such as electrical and electronics and pharmaceutical have reflected positively on the growth of the North America market. The existence of key automotive players such as Ford, General Motors, and Fiat Chrysler acts as a plus for the growth of the market.
Europe market is driven by well-developed automotive and electrical & electronic industry in the region. Increasing defense budget and surging application in ultrasonic cleaners, and radiation therapy equipment augments the growth of the market.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of market and industries. Cordially get in touch for more details.
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