Technical Ceramics Market Share, Dynamics and Product segments By 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 spiralling 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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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.

 

Excessive adoption of the coated machinery materials, along with shifting inclination towards technical coatings by consumers and recent developments in various deposition processes, are opening numerous potential opportunities for the technical ceramics industry in coming years. Some of the critical factors associated with market limitation are numerous governmental regulations in regards to the environmental impact and growing competition from other types of materials.

 

The technical ceramics are also referred as engineering ceramics or industrial ceramics or advanced ceramics. Technical ceramics are considered as highly-sophisticated ceramics consisting of distinctive characteristics such as mechanical, electrical, thermal and bio-chemical that are suitable for various industrial applications.

 

The highly-specific properties associated with technical ceramics are further boosted and optimized to meet the required technical requirements during the industrial applications. Combination of the mechanical, bio-chemical, electrical and thermal properties to design and create advanced set of components that are capable of performing required set of the task with high accuracy makes it an ideal alternative to the traditional materials similar to metal and plastic in the respective field of application. Technical ceramics are capable of overcoming technical challenges remain unsolved with the use of traditional materials.

 

Few of the highly advanced properties associated with the technical ceramics are wear resistance, high temperature resistance, erosion resistance, and bio-compatibility. The distinct characteristics of the technical ceramics makes it an ideal choice for various industry application such as automobile sector, electrical industries, healthcare sector, power & energy industries and mechanical engineering.

 

The technical ceramics market is divided into regional market segment such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the use in the environmental and medical sectors and growing emphasis on research for new product development. Asia-Pacific region is predicted to hold major market share in the technical ceramics industry with massive growth in forecast period.

 

Countries such as India, China and Singapore are leading the Asia-Pacific’s market with growing competition in manufacturing, reduced costs, rising economic growth in the region, and constant demand in the end-user industries. The key players in the technical ceramics market are Kyocera Co., CeramTec Co., Morgan Advanced Materials Inc., McDanel Co., and Saint-Gobain Ceramic Materials.

 

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