New Analysis From Global Industry Analysts Reveals Steady Growth For Advanced Ceramics, With Market Expected To Reach $88.7 Billion Globally By 2026
SAN FRANCISCO, March 1, 2022 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Advanced Ceramics – Global Market Trajectory and Analysis”. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.
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Editing: 18; Published: February 2022
Executive Pool: 7259
Companies: 140 – Players covered include Applied Ceramics, Inc.; 3M Company; CeramTec TopCo GmbH; COI Ceramics, Inc.; CoorsTek, Inc.; Kyocera Corporation; Materion Company; Momentive Performance Materials, Inc.; Morgan Advanced Materials; Murata Manufacturing Co.Ltd. ; NGK Insulators Ltd. and others.
Cover: All major geographies and key segments
segments: Product segment (monolithic ceramics, coatings, matrix composites); End use (electricity and electronics, transportation, machinery, chemicals, other end uses)
Geographies: World; UNITED STATES; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.
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Global advanced ceramics market to reach US$88.7 billion by 2026
The growth of the global market is expected to be mainly driven by the growing demand for these materials in the medical, space and automotive sectors. Zirconia ceramics are widely used in the medical sector, due to their aesthetic, biological and physical properties. This would provide a tremendous opportunity for these materials to generate a surge in demand for endosseous implants, implant abutments and artificial bones. In the automotive sector, advanced ceramic materials are experiencing increased consumption in battery components, attributed to their electrical and thermal properties. The rapid evolution of the technical ceramics industry and the resulting need for organic growth is pushing companies to collaborate with universities and startups to develop more advanced and innovative materials. In addition to their use in energy and environmental technology applications, technical ceramics would find use in Industry 4.0, IoT and AI. The demand for advanced ceramics continues to be driven by the manufacturing sector as the materials are widely used in the production of a range of products including industrial machinery, motor vehicles, electrical equipment, aircraft and electronic components, among others. Advanced ceramics would also support the growth of device interconnectivity when 5G and more autonomous devices emerge. And, as industries unlock new machine automation capabilities through IoT and AI, technical ceramics would be there to help smart production lines digitally transform.
Amid COVID-19 crisis, Global Advanced Ceramics Market Estimated at US$68.7 billion in 2022, is expected to reach a revised size of US$88.7 billion by 2026, growing at a CAGR of 6.3% over the analysis period. Monolithic ceramics, one of the segments analyzed in the report, is expected to grow at a CAGR of 6.1% to reach US$71.7 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the coatings segment is readjusted to a revised CAGR of 6.6% for the next 7-year period. This segment currently accounts for a 14.7% share of the global advanced ceramics market. Growth in the monolithic ceramics segment is driven by improving demand from major end-user industries such as automotive, defense, power, electrical and electronics. These ceramics find use in manufacturing sensors, safety systems, and engine components in the transportation industry due to attributes such as high temperature resistance. Demand for ceramic coatings is expected to be fueled by the growth in aerospace equipment production and the revival of motor vehicle production.
The US market is estimated at $18.2 billion in 2022, when China is expected to reach $29.4 billion by 2026
The advanced ceramics market in the United States is estimated at US$18.2 billion in 2022. The country currently accounts for a 26.84% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$29.4 billion in 2026 with a CAGR of 7.7% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 4.7% and 5.9% respectively over the analysis period. In Europe, Germany is expected to grow at around 4.3% CAGR while the rest of the European market (as defined in the study) will reach US$31.6 billion at the end of the analysis period. The United States is the leading developer and producer of ceramic matrix composites (CMCs) and other ceramics used in high-load applications, supported primarily by NASA and Department of Defense (DoD) funding. Advanced ceramic applications in lightweight body armor, infrared missile domes, aircraft engines and various space applications are likely to lay the foundation for the growth of advanced ceramics in developed markets. In Europe, with the implementation of Euro 6C legislation, the demand for filters used in the exhaust of heavy-duty diesel engines continues to experience strong growth. In addition, low emission zones established in various European cities result in additional sales of ceramic exhaust filters. Rising demand from electronics, medical and automotive industries is contributing to the growth of the market in Asia Pacific.
Matrix composites to achieve $7.8 billion by 2026
Ceramic matrix composites (CMC) which include a ceramic matrix with any fibrous reinforcement have emerged as an ideal solution to combat the problem of brittleness. The segment’s growth is driven by increasing demand for high performance and lightweight materials from a number of end-use industries. In the global Matrix Composites segment, UNITED STATES, Canada, Japan, China and Europe will drive the CAGR of 7.2% estimated for this segment. These regional markets representing a combined market size of US$4.1 billion will reach a projected size of 7 billion US dollars at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$990.1 million by 2026, while Latin America will grow at a CAGR of 7.9% over the analysis period. After
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About Global Industry Analysts, Inc. and StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher, the only influencer-focused market research company in the world. Proudly serving over 42,000 clients in 36 countries, GIA has been recognized for its accurate forecasting of markets and industries for over 33 years.
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