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Advanced Ceramics Market Worth $133.9 Billion By 2025 | CAGR: 9.1%

Date: 2019-07-16
Views: 176

The global advanced ceramics market size is expected to reach USD 133.9 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 9.1% during the forecast period. High performing capabilities of the product, such as enhanced magnetic, optical, thermal, and electrical conductivity, and chemical inertness, is a major factor responsible for their adoption in various end-use industries, including electrical and electronics, automotive, and healthcare.

 

Materials such as silicon carbide, aluminum nitride, alumina, zirconia, and titania are some of the key materials used in the manufacturing of the product. The most significant products include coatings, monolithics, and ceramic matrix composites.

 

Advanced ceramics are mainly used in the manufacturing of electronic and electrical equipment owing to their strong electrical conductivity and high corrosive resistance. Increasing demand for consumer electronics, particularly in Asia Pacific countries such as India and China, is expected to have a positive impact on industry growth over the forecast period.

 

It is also utilized in applications such as armor, wear components, cutting tools, and engines. Performance and high quality are vital advantages of advanced ceramics that drive their use in numerous applications. Growth in the market has resulted from both traditional applications, such as engine parts, as well as new applications like bioceramics, which are used in body implants. Widespread utilization of the product in automotive heat engines, such as gas turbines and diesel engines, industrial heat exchangers, medical devices and implants, and electrochemical devices, is estimated to drive the industry over the forecast period.

 

The market is characterized by integration through raw material manufacturing, production, and distribution to various end-use industries. Integration through several stages of the value chain results in continuous supply of raw materials as well as it lowers the manufacturing cost.

 

Companies such as TAM Ceramics, 3M, Honeywell, and International General Electric Company are integrated market participants who are engaged in manufacturing raw material, advanced ceramics products, and distribution to various end-use industries.

 

Via: https://www.grandviewresearch.com/press-release/global-advanced-ceramics-market


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