Examining the Factors Limiting the Growth of the Ceramics Industry

Posted on 2024-03-04 by researchinsights in Industrial // 0 Comments

Ceramics Industry Data Book – Traditional Ceramics and Advanced Ceramics Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 – 2030

The global Ceramics Industry was valued at USD 239.53 billion in 2022 and is anticipated to increase at a significant CAGR of 5.2% from 2023 to 2030.

Grand View Research’s ceramics sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

Traditional Ceramics Market Insights

The global traditional ceramic market size was valued at USD 136.66 billion in 2022 and is likely to grow at a compound annual growth rate (CAGR) of 4.9% from 2023 to 2030. Rising investment in the development of luxury hotels and restaurants is expected to propel the demand for ceramic-based products over the forecast period. Traditional ceramic products, such as tableware, sanitaryware, and artware, are predominantly sought after by hotels and restaurants. The desire to enhance customer satisfaction and loyalty has prompted owners of these establishments to upgrade their interiors and achieve a visually appealing aesthetic. As a result, consumption of traditional ceramics is anticipated to increase over the coming years, with growing investments in the hotel industry.

Surging investments in hotel construction in the U.S. are expected to augment demand for traditional ceramics in coming years. For instance, 100 new hotels were opened in the U.S. during the second quarter of 2023, and 400 new hotels are anticipated to open in the country by the end of 2023.

Manufacturer worldwide faces challenges due to the high raw material costs, which has prompted some small-scale manufacturers to shut down their production units. According to the India-based Morbi Ceramic Association, almost 100 manufacturing units of ceramic products were shut down in 2022, due to a rise in input costs of coal gas, and other raw materials.

Traditional Ceramics Market Share, by Application, 2022

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Advanced Ceramics Market Insights

The global advanced ceramics market size was valued at USD 102.87 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030. Increasing penetration of advanced ceramics in various applications, along with the growth in medical and telecom industries, is anticipated to augment market growth over the forecast period. Advanced ceramic, also referred to as technical ceramic, offers improved magnetic, optical, thermal, and electrical conductivity. End-users have been able to reduce their production and energy costs with the help of advanced ceramics that provide high efficiency to end products. The Asia Pacific is a leading market for advanced ceramics in the world in terms of their consumption.

The demand for advanced ceramics in the U.S. is primarily driven by an increasing preference for lightweight materials in various industries. Rising production and consumption of these materials and components for the electrical and electronics sector owing to the growing requirement for uninterrupted connectivity, along with their use in flourishing electric vehicle (EV) and defense sectors, are expected to augment the market growth over the forecast period.

Furthermore, the rising popularity of 3D printing is propelling the need for advanced ceramics for making parts and components for high-performance applications. For instance, in November 2021, Tethon 3D announced its partnership with Fortify to produce technical ceramics for 3D printing. Such steps will aid market growth by opening new opportunities for the product in the aerospace, medical, and energy industries.

Go through the table of content of Ceramics Industry Data Book to get a better understanding of the Coverage & Scope of the study

Ceramics Industry Data Book Competitive Landscape

The participation of numerous manufacturers characterizes the global ceramics market, focused on developing ceramic products. These prominent companies compete against one another based on elements like product quality and cost.

Key players operating in the Ceramics Industry are:

AGC Ceramics Co., Ltd
3M
CoorsTek Inc.
CeramTec GmbH
RAK CERAMICS

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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