Advanced Ceramics Market Trends and Demand Analysis to 2027 | Future Scope, Price Structure, Industry Share and Forecast to 2028 by Fortune Business Insights™
The global advanced ceramics market size is projected to reach USD 1, 80,463.4 million by 2028. Fortune Business Insights™ presented this information in a new report, titled, “Advanced Ceramics Market, 2021-2028.” The report further mentions that the market stood at USD 82,972.9 million in 2020. It will exhibit a CAGR of 10.2% during the forecast period between 2021-2028. The ongoing technological advancements and rising demand for modern consumer electronic appliances are expected to propel the need for electroceramics. Advanced ceramics is extensively used in such products because of their possession of multiple beneficial properties, such as compressive strength.
The research report of the advanced ceramics industry offers a comprehensive analysis of existing companies that can affect the market outlook throughout the forthcoming years. In addition to that, it provides an accurate assessment by highlighting data on multiple aspects that may contain growth drivers, opportunities, trends, and hindrances. It also represents the overall market size from a global perspective by analyzing historical data and qualitative insights.
Key Companies Aim to Participate in Acquisition Strategy to Compete with Their Rivals
The market houses several prominent manufacturers that are focusing on various organic and inorganic strategies to compete with their rivals. Among them, acquisition is the most significant strategy. International Syalons, for instance, is a leading producer of silicon nitride and sialon-based ceramics. It often participates in mergers and acquisitions to broaden its footprints and generate more sales.
A list of reputed advanced ceramics providers operating in the global market:
- International Syalons (UK)
- KYOCERA Corporation (Japan)
- S&S Advance Ceramics (India)
- Advanced Ceramics Manufacturing (U.S.)
- Nishimura Advanced Ceramics (Japan)
- CeramTec GmbH (Germany)
- CoorsTek Inc. (U.S.)
- Saint-Gobain (U.S.)
- Morgan Advanced Materials (UK)
- Technocera (India)
- Other Key Players
Kyocera Corporation Acquires 100% Shares of H.C. Starck Ceramics GmbH
In February 2019, Kyocera Corporation, a multinational ceramics and electronics manufacturer based in Japan, announced that Kyocera Fineceramics GmbH, its Germany-based European headquarters signed an agreement to acquire 100% shares of H.C. Starck Ceramics GmbH. This acquisition will help Kyocera to introduce its state-of-the-art fine ceramic manufacturing assets, innovative technologies, and production lineup in Europe. Such initiatives by prominent companies are likely to surge the demand for advanced ceramics worldwide.
Shutdown of Manufacturing Plants amid COVID-19 Pandemic May Impact Growth
Numerous companies in the U.S. and other countries have closed their manufacturing plants temporarily amid the COVID-19 pandemic. It has also disturbed supply networks in developing economies, such as India and China. Also, electronics and automotive sectors showcased a decline in revenues backed by work-from-home norms. But, regulatory bodies are striving to bring everything back to normalcy by encouraging companies to start production. It would help in surging the demand for advanced ceramics in the next couple of years.
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Drivers & Restraints-
Rising Usage in Making Implant Abutments and Artificial Bones to Propel Growth
Advanced ceramics are gaining more importance in the medical industry. The product has excellent aesthetic, physical, and biological properties. Therefore, it is extensively utilized for making endosseous implants, artificial bones, and implant abutments. The industry is also anticipated to use zirconia ceramics. These factors are set to accelerate the advanced ceramics market growth in the forthcoming years. However, the production process of this ceramic involves high cost spending as it includes inspection, diamond grinding, sintering, forming, and raw material processing. It may hinder growth.
Transportation Segment Generated 21.2% Share in China in 2020: Fortune Business Insights™
Based on the material, the market is divided into alumina, zirconia, titanate, silicon carbide, silicon nitride, and others. Below is a brief note on the end-use criterion:
- By End-use: The market is categorized into electrical & electronics, transportation, medical, chemical, and others. Out of these, the transportation segment held 2% in terms of the China advanced ceramics market share in 2020. This growth is attributable to the rising usage of the product in aerospace engines and electric water pumps. On the other hand, the medical segment earned 18.0% in 2020 on account of the high demand for biodegradable splints and other similar products.
Increasing Usage of Titanate in Automotive Industry to Propel Growth in Asia Pacific
- Asia Pacific: The region held USD 30,783.0 million in terms of revenue in 2020. It is expected to remain at the forefront on account of the high demand for the product from the medical industry. Besides, increasing usage of titanate in the automotive industry, especially in China, is set to aid growth.
- North America: The increasing shift of manufacturers towards this ceramic over plastic or other metals is anticipated to help the region remain in the second position. Additionally, the rising production of electronic devices and electrical equipment in the region would boost growth.
- Europe: The presence of a well-established automotive industry in the region is set to augment growth in the forecast period. Coupled with this, the urgent need to reduce emissions in the atmosphere would also result in the rising adoption of electric vehicles in the region.