Technical Ceramics Market Growth, Top Manufacturer Analysis and Forecast to 2024
The global Technical Ceramics Market size is expected to value at USD 134.58 billion by 2024, during the forecast period. The market is subject to witness a substantial growth due to cost-effectiveness associated with the use of advanced ceramics products and longer life cycle, and growing competition in the market. Growing demand of the advanced ceramics or technical ceramics in the automotive sector is one of the key factor propelling the market growth in recent years.
The adoption of the technical ceramics mainly in the developing countries along with expansion of the automobile industry in the region owing to the recent economic growth are spiraling the market demand for the technical ceramics industry over the forecast period. The adoption of the technical ceramics as an alternative to the plastics and metals in automotive and healthcare market segment is attributing to the advancement of the market. Globally, the market is predicted to grow at high CAGR in forecast period, providing numerous opportunity for market players to invest for research and development in the technical ceramics market.
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Drivers
The growing awareness about the benefits offered with the use of the technical ceramics over the conventional products are driving the demand for the technical ceramic market in coming years. The advantage associated with the use of the technical ceramics are bio-degradability, durability, reliability, and superior tensile strength. Most of technical ceramics are eco-friendly in nature in comparison with conventional materials, and stringent governmental regulation to limit environmental hazards with use of traditional materials such as plastics is fueling the growth of the technical ceramics during the forecast period. The application of technical ceramics has found its way in the electronic and electrical industry as well. Growing use of the electronic devices by consumers will further push market demand of technical ceramics.
Material Outlook (Revenue, USD Million; 2013 – 2024)
- Alumina ceramics
- Titanate ceramics
- Zirconate ceramics
- Ferrite ceramics
- Aluminum nitride
- Silicon carbide
- Silicon nitride
Product Outlook (Revenue, USD Million; 2013 – 2024)
- Monolithic ceramics
- Ceramic coatings
- Ceramic Matrix Composites
Application Outlook (Revenue, USD Million; 2013 – 2024)
- Electrical equipment
- Catalyst supports
- Electronic devices
- wear parts
- Engine parts
- Filters
- Bioceramics
- Others
End-use Outlook (Revenue, USD Million; 2013 – 2024)
- Electrical & electronics
- Automotive
- Machinery
- Environmental
- Medical
- Others
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Key Players Analysis covered in these report
- Kyocera
- CeramTec
- Morgan Advanced Materials Inc.
- McDanel Co
- Saint-Gobain Ceramic Materials
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The global Technical Ceramics Market size is expected to value at USD 134.58 billion by 2024, during the forecast period. The market is subject to witness a substantial growth due to cost-effectiveness associated with the use of advanced ceramics products and longer life cycle, and growing competition in the market. Growing demand of the advanced…
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