August 17, 2022 04:30 ET | Source: Market Research Future Market Research Future

New York, New York, UNITED STATES

New York, USA, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Advanced Ceramics Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Advanced Ceramics Market Information by Material, Product, End-User Industry and Region - Forecast till 2030”, the market is estimated to grow at a 3.7% CAGR to reach USD 97.0 Billion by 2030.

Advanced ceramics, often known as engineered ceramics, are specifically created to overcome the drawbacks of standard ceramics and to exhibit increased qualities. The needs of the many end-use industries can be met by these ceramics.

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Because there are many well-established players in the industry, there is intense competition. Several participants in the industry are observing the integration at various levels of the value chain. Additionally, businesses are implementing strategic plans like new product launches and acquisitions to remain ahead of the competition and grow their market share. The prominent key players in the advanced ceramics market outlook are the following:

In the review period, it is anticipated that rising demand from end-use sectors, particularly those related to renewable energy and medicine, will accelerate market expansion. Growing consumer demand from the clean technology sector also fuels market expansion. Advanced ceramics have higher corrosion resistance in compared to conventional materials like steel and aluminum, which results in less maintenance and a decrease in other expenditures for armor, cars, and aircraft. The composite material's light weight is a crucial factor for several industries, including aerospace and defense. Lightweight engine parts and armor became more in demand as a result. A lot of businesses, particularly in Europe and the US, are working to develop aircraft that use less fuel. Therefore, it is anticipated that the new aircraft engines will call for more sophisticated ceramics components. Defense equipment producers have begun putting more of an emphasis on lightweight armor with excellent fracture toughness.

The global market for advanced ceramics is also anticipated to increase in the future years as a result of rising ceramic use in the transportation sector and factors associated with the expansion of the defense manufacturing industry. Modern ceramics are lightweight and extremely reliable for use in aircraft. A chance to support the expansion of the global market is being created by the growing use of sophisticated ceramics in aircraft and military.

Market Restraints: The high cost of producing and using ceramics is limiting the market's expansion. The limited usage of a few modern ceramics due to strict environmental rules poses a threat to the market's expansion.

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The advanced ceramics market is severely disrupted in the first two quarters of 2020 as a result of the COVID-19 outbreak. Capacitors, transistor dielectrics, and other electrical and electronic components are frequently made using advanced ceramics. The government-imposed lockdowns and a few strict laws to stop the virus's spread, which stopped production in most industries. Similar delays occurred in the production of electronic components in the electronics and electrical sector as a result of a scarcity of raw materials, a labor shortage, and a slowdown in logistics. The market for medical devices such as ventilators, patient care systems, thermal scanners, and associated equipment, on the other hand, expanded more quickly than other sectors. Ventilators were a particularly important piece of equipment during the pandemic and required prompt logistical support, regulatory permits, and the supply of raw materials like plastics, adhesives, and elastomers.

Due to their outstanding advantages, such as durability, dependability, and protection from the high temperature that lengthens the component's life, monolithic ceramics are anticipated to hold the biggest market share.

According to material, advanced alumina ceramics hold the biggest market share because they are increasingly used by a variety of end users, including the equipment, automotive, and electrical & electronics industries. Additionally, these ceramics offer advantages including resistance to weather and corrosion, which supports market expansion.

Due to the expanding product applications in magnetic, insulating, semiconducting & superconducting, and piezoelectric, the electrical & electronics category currently holds the greatest market share and is expected to maintain its dominance over the study period.

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The region with the highest predicted CAGR is Asia-Pacific, owing to the region's expanding population and rising per capita disposable income. Additionally, the market expansion in this area is being accelerated by the rising demand for advanced ceramics in the electronics and vehicle industries, particularly in emerging nations like India, Japan, and China.

Due to the existence of vehicle firms like General Motors, Fiat Chrysler, and Ford, which are increasing the demand for advanced ceramics in the automotive industry, North America now holds the largest market share for advanced ceramics. A growing acceptance rate and developed end-use industries like pharmaceutical and electronics & electrical are also accelerating market growth. The preference for lightweight materials in numerous industries is the main factor driving the demand for advanced ceramics in the U.S. Over the course of the forecast period, rising production and consumption of these materials and components for the electrical and electronics sector are anticipated as a result of the expanding demand for uninterruptible connectivity and their application in the booming electric vehicle (EV) and defense sectors.

Europe is predicted to have profitable market expansion because of its highly developed electrical and electronic and automotive industries. Aside from that, the market is expanding due to the expanding use of advanced ceramics in medical equipment such implantable devices, radiation therapy equipment, and ultrasonic cleaners.

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