Advanced Ceramics Market is expected to expand at a CAGR of 4.0% from 2022 to 2030

Posted on 2022-07-18 by researchinsights in Industrial // 0 Comments

Advanced Ceramics Industry Overview

The global advanced ceramics market size is expected to reach USD 147.34 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.0% from 2022 to 2030. Increasing demand for high-performing lightweight materials in industries such as telecom, automotive, aerospace, and medical is propelling the market growth.

Advanced Ceramics Market Segmentation

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

Based on the Material Insights, the market is segmented into Alumina, Titanate, Zirconate, Ferrite, Aluminum Nitride, Silicon Carbide, and Silicon Nitride.

Alumina held the largest revenue share of over 30.0% in 2021 and this trend is anticipated to continue over the forecast period. Alumina-based advanced ceramics are used for harsh applications that need characteristics such as thermal stability and wear resistance.
Titanate is anticipated to register the fastest growth rate over the forecast period. The product finds application in antennas and resonators. Titanate-based materials used in the dielectric resonators in microwave communication systems have become vital components in today’s modern world.
According to the CTIA’s 2021 Annual Wireless Industry Survey, the U.S. wireless industry made an investment of USD 30 billion in 2020. In the same year, the wireless data traffic reached 42 trillion megabytes, which is more than 200% higher than 2016. Growth in the Internet of Things, work from home culture, and digital platforms are propelling investments in next-generation technologies, thus augmenting demand for resonators and antennas.

Based on the Product Insights, the market is segmented into Monolithic, Ceramic Coatings and Ceramic Matrix Composites (CMCs).

Monolithic held the largest revenue share of over 75.0% in 2021 and is expected to dominate the market over the forecast period. The product possesses characteristics such as high-temperature resistance, durability, and reliability, making it vital for applications in electronic devices and vehicles.
Ceramic Matrix Composites(CMCs) are anticipated to register the fastest growth rate of 5.0% over the forecast period. These are composites wherein both matrix and reinforcement material are ceramic. They possess enhanced properties owing to the combination of different materials. Thus, CMCs are lightweight, have high strength, and offer excellent thermal shock properties.
In July 2021, Mitsubishi Chemical Corporation announced the development of its new CMC material, a combination of metal and carbon fiber. The product possesses high molding workability and is also low in cost without compromising on features such as wear resistance, lightweight, low dust generation, high heat resistance, and high rigidity.

Based on the Application Insights, the market is segmented into Electrical Equipment, Catalyst Supports, Electronic Devices, Wear Parts, Engine Parts, Filters, Bioceramic and Others.

Electronic devices held the largest revenue share of over 45.0% in 2021 and this trend is expected to continue over the forecast period. The product is extensively used in smartphones, television sets, computers, and consumer appliances.
The bioceramic segment is anticipated to register the fastest growth rate over the forecast period. The growth is attributed to the rising emphasis on the medical industry in various countries. It is used as dental implants and as replacement parts in knee and hip operations.

Based on the End-use Insights, the market is segmented into Electrical & Electronics, Automotive, Machinery, Environmental, Medical and Others.

The electrical and electronics segment held the largest revenue share of over 55.0% in 2021 and is anticipated to dominate the market over the forecast period. With the advancements in technology, advanced ceramics exhibit semiconducting, superconducting, piezoelectric, and magnetic properties. Their applications in the electrical and electronics industry include spark plugs; capacitors; fixed and variable resistors; inductors; and circuit protection devices.
The environmental segment is expected to register the fastest CAGR of 4.7% across the forecast period. Advanced ceramics are environment-friendly materials that can help in regenerating damaged ecosystems.
The medical segment is also one of the fastest-growing end-use segments in the market. Properties of advanced ceramics such as non-toxicity, high compressive strength, low friction coefficient, and high wear and chemical resistance make them useful in medical applications such as diagnostic imaging equipment, consumable medical devices, implantable medical devices, and therapeutic medical devices.

Advanced Ceramics Regional Outlook

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa

Key Companies Profile & Market Share Insights

The market has been characterized by the presence of established players, which makes the competitive rivalry high. The integration is observed by several market players across different stages of the value chain. In addition, strategic initiatives such as new product developments and acquisitions are being adopted by the companies to stay ahead in the competition and increase their market share.

Matched content

Editor’s pick