Advanced Ceramic Market Growth with Worldwide Industry Analysis to 2027

04/gen/2021 12:36:38 Grand View Research Contatta l'autore

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The global advanced ceramic market size is expected to reach USD 130.2 billion by 2027 registering a CAGR of 3.7%, according to a new report by Grand View Research, Inc. The rapidly expanding electrical & electronics industry is expected to augment market growth over the forecast period. Moreover, heavy investments in renewable energy and Electric Vehicles (EVs) industries will boost market growth. Unlike traditional ceramics that are made of clay, advanced ceramics are composited by borides, oxides, nitrides, carbides, and others giving the leverage of controlling the chemical composition, crystal structure, and grain size precisely.

The emergence of COVID-19 in the first quarter of FY 2020 had major implications on the market growth owing to suspension in manufacturing operations across major end-use industries, including electronics, automotive, and industrial. In addition, the supply trade was majorly disrupted owing to lockdown. Despite the negative impact of the pandemic on the market growth, the product demand is expected to increase with the surge in investments in the renewable energy sector. Advanced ceramics, owing to their properties, are gaining prominence in the energy sector for producing equipment that requires high-temperature resistance.

Furthermore, the product demand is on the rise from diagnostic equipment applications, which are witnessing rapid demand amid the COVID-19 pandemic. Electrical and electronics was the largest end-use segment in 2019. Advanced ceramics have numerous applications in this segment, in products such as ceramic substrates, circuit carriers, and core materials. Rising demand for high-power electronics from the automotive, optoelectronics, aerospace, and other major industries is expected to drive market growth over the forecast period.

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Central & South America is anticipated to witness significant growth over the forecast period on account of increasing investments in the renewable energy sector. For instance, in July 2020, Ibitu Energia announced its plan to invest USD 830 million in renewable energy assets in the coming five years. The market is characterized by the presence of various raw material producers, manufacturers, and distribution partners. Major market players are integrated across different stages of the value chain. The efficiency of advanced ceramics has propelled manufacturers to invest in this market. For instance, in 2016, GE Aviation invested in new plants for advanced ceramics.

Advanced Ceramic Market Report Highlights

·         Asia Pacific is estimated to witness the fastest CAGR of 4.2% during the forecast period on account rising investments in industries, such as EV, medical, and electronics

·         The titanate segment is anticipated to register the fastest growth rate during the forecast period owing to the material’s ability to withstand extremely high temperatures of several hundred degrees

·         Ceramic matrix composites will be the fastest-growing product segment from 2020 to 2027, owing to the better performance of these products over monolithic

·         The automotive end-use industry accounted for a share of more than 12.0% in 2019 owing to rising demand for advanced ceramics in the EV sector

Advanced Ceramic Market Segmentation

Grand View Research has segmented the global advanced ceramic market on the basis of material, product, application, end-use, and region:

Advanced Ceramics Material Outlook (Revenue, USD Million, 2016 - 2027)

·         Alumina

·         Titanate

·         Zirconate

·         Ferrite

·         Aluminum Nitride

·         Silicon Carbide

·         Silicon Nitride

Advanced Ceramics Product Outlook (Revenue, USD Million, 2016 - 2027)

·         Monolithic

·         Ceramic Coatings

·         Ceramic Matrix Composites

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