Overview and Scope
Advanced ceramics are a category of ceramic materials with exceptional mechanical, thermal, electrical, and chemical properties compared to traditional ceramics. These materials are engineered to have specific properties for use in demanding applications across various industries.
Sizing and Forecast
The advanced ceramics market size has grown strongly in recent years. It will grow from $80.30 billion in 2023 to $85.34 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to increasing use of ceramics coatings, rising sales of high-performance ceramics, the rising demand for the product from the automotive and medical industries, manufacturers massive investment on development of healthcare applications, and escalating demand for zirconia in the medical industries.
The advanced ceramics market size is expected to see strong growth in the next few years. It will grow to $106.67 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to growing demand for electro ceramics, rising demand from medical and electronics sectors, advanced ceramics are preferred in the joint replacement process, rise in use as alternative to metals and plastics, eco-friendliness and reliability of use. Major trends in the forecast period include increasing use in nanotechnology, innovative product development, the rising demand for ceramics from the field of electro ceramics, growing the adoption of advanced ceramics in aircraft and defense.
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Segmentation & Regional Insights
The advanced ceramics market covered in this report is segmented –
1) By Material: Alumina, Titanate, Zirconia, Silicon Carbide
2) By Application: Monolithic Ceramic, Ceramic Coatings, Ceramic Matrix Composites, Ceramic Filters
3) By End-user Industry: Electrical and Electronics, Transportation, Medical, Industrial, Defense and Security, Chemical, Other End-user Industries
North America was the largest region in the advanced ceramics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the advanced ceramics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand in the automotive industry is expected to propel the growth of the advanced ceramics market going forward. The automotive industry is a sector of the economy that designs, develops, manufactures, markets, and sells motor vehicles. Advanced ceramics offer superior properties such as high strength, thermal resistance, and lightweightness, making them ideal for various automotive applications, including engine components, exhaust systems, and brake systems. For instance, in March 2022, according to the European Automobile Manufacturers Association, a Belgium-based automobile industry association, US auto plants manufactured around 6.3 million passenger cars in 2021, an increase of 3.1% compared to 2020. Therefore, the rising demand in the automotive industry is driving the growth of the advanced ceramics market.
Key Industry Players
Major companies operating in the advanced ceramics market are 3M Company, KYOCERA Corporation, Murata Manufacturing Co. Ltd., Corning Incorporated, AGC Ceramics Co. Ltd., Materion Corporation, Morgan Advanced Materials Plc, Ferrotec Holdings Corp., CeramTec GmbH, MARUWA Co. Ltd., Saint-Gobain Ceramic Materials, Blasch Precision Ceramics Inc., Applied Ceramics Inc., Dyson Technical Ceramics Ltd., Elan Technology, McDanel Advanced Ceramic Technologies, International Syalons (Newcastle) Ltd., Momentive Technologies, Rauschert GmbH, Advanced Ceramics Manufacturing, BCE Special Ceramics GmbH, Nishimura Advanced Ceramics Co., Ltd., Ortech Advanced Ceramics, TechCeramic, Ceradyne Inc., Compagnie de Saint Gobain SA, Small Precision Tools Inc., Vesuvius, Wonik QnC Corporation
The advanced ceramics market report table of contents includes:
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List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Advanced Ceramics Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Advanced Ceramics Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Advanced Ceramics Market, Segmentation By End-user Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: 3M Company Financial Performance
Table 75: KYOCERA Corporation Financial Performance
Table 76: Murata Manufacturing Co. Ltd. Financial Performance
Table 77: Corning Incorporated Financial Performance
Table 78: AGC Ceramics Co. Ltd. Financial Performance
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