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High performing capability of the product and increased demand from various industries are responsible for the growth opportunities of the global market.
NEW YORK, NY, UNITED STATES, January 14, 2022 /EINPresswire.com/ -- The global Advanced Ceramics Market is estimated to reach USD 173.42 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated with the increasing use of advanced ceramics in several end-user industries such as electronic and electrical, medical, and machinery industries. The market for advanced ceramics are adopted at a rapid rate as an alternative to plastics and metals, due to the increasing awareness regarding the eco-friendly advantages such as durability, biodegradability, and extensive tensile strength. The growth in various end-use products’ demand & industrial development are vital factors promoting the need for advanced ceramics, which is, propelling the overall growth of the market globally.
The rapid use of coated machinery components has shifted the inclination of the consumers to advanced coatings, and the technological improvements in deposition processes are anticipated to bring new market opportunities.
Key participants include Saint-Gobain Ceramic Materials , Asahi Glass Co., Corning Inc., Advanced Ceramic Manufacturing, LLC., Kyocera Corporation., Coorstek Inc., Ceramtec GmbH, Morgan Advanced Materials PLC, Morimura Group, Rauschert Steinbach GmbH
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APAC accounts for the largest market share of 33.70% in 2020 and is anticipated to grow at a CAGR of 8.5% over the forecast period owing to accelerated industrialization in these regions. The growth of the main end-use industries such as the infrastructure/construction sectors mainly in Asian countries such as India and China are expected to encourage the advanced ceramics market. Moreover, higher adoption and improved technological innovations for the use of advanced ceramics in nanotechnologies, in wind turbines and other pollution control purposes is anticipated to increase the market for advanced ceramics in the region.
Further key findings from the report suggest
• Advanced ceramics are primarily used in the manufacturing of electronic and electrical equipment owing to their substantial electrical conductivity and high acid resistance. Increasing demand for consumer electronics, particularly in APAC countries such as China and India, is presumed to impact positively on industry growth over the forecast period. • Titanite market of the material segment is valued at USD 21.32 billion in 2020 and is estimated to reach USD 42.81 billion by 2028, at a CAGR of 8.64%. Titanite or aluminum titanite possesses the most active thermal shock resistance in the material segment. Product made of this material tends to endure under high temperatures of various hundred degrees. • The bioceramics market of the application segment is valued at USD 13.10 billion in 2020 and is estimated to reach USD 26.30 billion by 2028 at a CAGR of 8.64% during the forecast period. They are inert materials and possess exceptional strength and wear resistance. Therefore, they are widely utilized in surgical implants like dental and bone. Commonly used materials in this section include aluminum oxide and zirconia oxide. These are mainly used in the manufacturing of dental and orthopedic implants. • The environmental market of the End-use segment is projected to grow at the highest CAGR of 8.7% during the forecast period. Advanced ceramics have high resistance capability even at temperatures over 1000°C. Therefore, they are suitable for use in solar energy conversion, photovoltaics, and other power plant engine systems. Furthermore, they have excellent resistance to acid thermal shocks, attacks, and wear. Therefore, they are widely used in environmental technologies like water treatment and processing. • North America is valued at USD 18.34 billion in 2020 and is estimated to reach USD 37.41 billion by 2028. It is expected to grow at a CAGR of 8.8% during the forecast period due to increasing healthcare awareness and expanding electronics industry in the region. Although the electronics sector in North America is relatively developed, product adoption for several electronic applications is set to grow owing to increasing penetration of smart offices and smart homes in the region. • The market players are primarily focused on developing new technologies to meet the requirements of users. Various companies are also involved in numerous merger & acquisitions as their essential strategy is to maintain sufficient market share. These factors are expected to have a positive impact on industry growth over the next few years.
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• Gain actual global outlook with the most comprehensive study available on the Advanced Ceramics market covering 30+ countries. • Generate regional and country approaches based on the local data and analysis. • Recognise growth segments for various investment. • Outpace rivalry using forecast data and recent and potential future drivers and trends contribution the current Advanced Ceramics market. • Understand customers based on newest Advanced Ceramics market study results. • Benchmark the performance against various key competitors. • Exploit relationships between the crucial data sets for improved strategist. • Suitable for supporting outside and inside presentations with dependable and superior data and study
For the purpose of this report, Reports and Data have segmented global Advanced Ceramics Market on the basis of Type, Material, End Users, Application and region:
Type Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2020-2028) Monolithic ceramics Ceramic coatings Ceramic matrix composites
Application Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2020-2028) Electrical equipment Electronic devices Wear parts Bioceramics Others
Material Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2020-2028) Alumina Titanate Zirconate Aluminum nitride Silicon carbide Others
End User Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2020-2028) Electrical & electronics Automotive Environmental Medical Others
Regional Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2020-2028) North America U.S. Europe Germany UK Asia Pacific China India South-east Asia Latin America Brazil MEA
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