Emerging Applications in Electronics to Spur Growth of Advanced Ceramics
The
global market for Advanced Ceramics is projected to reach US$93.3 billion by
2024, driven by factors such as advancements in material technology,
increasing use in established applications, and opportunities stemming from an emerging
application markets such as internet of things (IoT), Artificial Intelligence,
robotics, and Industry 4.0. Advanced ceramics, also termed as engineering
ceramics, industrial ceramics, or technical ceramics, are high-performance
ceramics featuring superior biochemical, electrical, mechanical and thermal
properties. These properties continue to drive widespread application of
advanced ceramics in industries such as automotive, defense, medicine, environmental
protection, aerospace, and fiber-optic communications.
Global advanced ceramics market continues to witness growth in both
traditional and new application areas. Opportunities would be guided by
technological advancements and innovations, which enable the materials to
compete efficiently with alternatives in the market, while also expanding their
scope of usage to new end-use applications at the same time. The growing demand for
high-performance electronics, computing and communication devices and the
surging penetration of Internet of Things (IoT) continue to prop large-scale
adoption of advanced ceramic compositions within these industries.
Cross-application synergies also help unveil newer and more sophisticated
application platforms for advanced ceramics. Growing use in commercial electronics, medical
equipment, and automobile sub-systems are expected to boost market prospects
for ceramic sensors market.
With
the electronics and automotive industries pushing the need for a new range of
high-performance ceramic materials capable of withstanding extreme conditions
during operation or during the processing of component manufacturing, focus on
development of innovative advanced ceramics is on rise. Besides product
innovations, the advanced ceramics industry is also witnessing development of
high-quality manufacturing processes. Companies are focused on designing
innovative methods to densify ceramics at extremely low temperatures and within
much less time span.. The technology is expected to aid companies in
development of new low-frequency, high-frequency and high-precision electronic
components for applications such as automotive electronics, wireless network
base stations, Artificial
Intelligence, IoT devices, and 5G mobile communications.
Product wise, Monolithic Ceramics forms the largest segment of
the market while electronic and electric products representing the major
end-use market. Matrix Composites represent the fastest growing product segment
of the Advanced Ceramics market led by growing demand for high performance and
lightweight materials from a number of end-use industries. Demand for ceramic
coatings is expected to be fueled by growth in the production of aerospace
equipment and revival in the motor vehicles production.
As stated by the new market research report on Advanced
Ceramics, Asia-Pacific represents the
largest and the fastest growing market with a CAGR of 7.3% over the analysis
period, led by presence of large electronic device manufacturers, rapid
industrialization trend, and high consumer spending in countries such as India and China.
Major players in the market include Applied Ceramics
Inc., Ceradyne Inc., CeramTec AG, COI Ceramics Inc., CoorsTek Inc., Covalent
Materials Corporation, International Ceramic Engineering, Materion Ceramics,
Momentive, Kyocera Industrial Ceramics Corporation, Morgan Advanced Materials,
and Murata Manufacturing Co. Ltd, among others.
The research report titled “Advanced
Ceramics – Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a comprehensive review of market
trends, issues, drivers, mergers, acquisitions and other strategic industry
activities of global companies. The report provides market estimates and
projections for all major geographic markets including US, Canada, Japan,
Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe),
Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa
and Latin America (Brazil, and Rest of Latin America). The global and regional markets are analyzed by following product
segments - Matrix Composites, Coatings, and Monolithic Ceramics, and end-use
sectors - Chemical, Electrical, Electronic, Machinery, Transportation, and
Others (Pollution Control, Armor, and Medical Products among Others).
Global Industry
Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
For cutting edge analyst reviews on top
industries, follow us on Twitter and connect with us on LinkedIn
Comments
Post a Comment