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Technical Ceramics Market Worldwide Study Anticipates
Posted On: Feb 2024
Technical ceramics are an advanced ceramics with unique material properties. These are also known as industrial or engineering ceramics. The latest report on “Global Technical Ceramics Market Research Report - Industry Analysis, Size, Share, Growth, Trends And Forecast” added by DecisionDatabases.com provides a complete market outlook to those seeking in-depth market knowledge. The study provides forecast and estimates market in terms of revenue and volume during the forecast period from 2015 to 2022. The report also provides market's mergers/acquisitions, partnerships, collaborations, new product launches, new product developments and other industry developments.
Theseceramics possess various specialized properties including unique electrical, mechanical, biochemical and thermal properties and in combinations. These properties can be further optimized, matched and developed for usage in technical applications. The global technical ceramics marketis driven by its growing preference due to its superior properties along with rising demand from medical end-use industry across the globe. In addition, low cost of production due to the deployment of cost-effective technical ceramics is also anticipated to fuel market demand over the coming years.
Its growing worldwide usage in various end-user industries due to various benefits such as heat resistance, temperature & corrosion resistance, biocompatibility, compressive strength, dielectric strength and electrical insulation will further aid to the market growth. These varied properties make it promising to use these ceramics in a range of applications in the military &defense, electronics, automotive industry, medical technology, general equipment and mechanical engineering, and energy and environment. However, higher cost of raw materials in comparison to other alloys & metals and requirement for high customization for end-use industries are major challenges, which can adversely affect its growth under the study period. Though, growing electronics and medical industry are expected to have a positive impact on the market demand for technical ceramics in the forthcoming years.
This global market has been segmented based on material type into oxide and non-oxide ceramics. The oxide ceramics are further sub-segmented into alumina ceramics, zirconia ceramics, titanate ceramics and others. On the other hand, the non-oxide ceramics is further sub-divided into aluminum nitride, silicon nitride, silicon carbide and others. The oxide ceramics is a growing material segment and is anticipated to witness a double digit growth in the study period owing to its growing demand from various end-use industries. Furthermore, the technical ceramics market has been segmented based on product type and end-use. The electronics & semiconductor is a major end-use segment and is expected to witness a significant growth over the forecast period on account of expanding electronicsindustry and growing demand for electronic gadgets across the globe.
Asia Pacific is a fastest growing market and is estimated to grow at the highest CAGR over the coming years owing to the growing electronic industry and major consumer for the ceramic matrix for various end-use industries due to its light weight and high-temperature resistance properties in the region. In addition, the presence of key manufacturers, particularly in China, will further drive this market in the region.
The key industry players include Coorstek Inc., Ceramtec GmbH, Kyocera Corporation, Morgan Advanced Materials, Saint–Gobain Ceramic Materials, NGK Spark Plug Co., Ltd., Ceradyne Inc. (3M Company), Mcdanel Advanced Ceramic Technologies LLC, Rauschert Steinbach GmbH, AND Superior Technical Ceramics.
In June 2016, Morgan Technical Ceramics, a leading manufacturer of ceramic solutions has launched an advanced piezoelectric material “PZT5K1” to extend its material portfolio and to offer a broad range of applications in the fields of maritime, scientific instrumentation, medical, general industry and energy harvesting.
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