Advanced Ceramics are used in a wide range of end-user industry applications owing to their excellent chemical & heat resistance and mechanical stresses properties. It is extensively used in applications such as medical devices, transport equipment, armor material, semiconductors, insulators, and others. The rising growth of the pharmaceutical and automotive industry across the globe is substantially affecting the growth of the advanced ceramics market.
The global advanced ceramics market is being driven by a range of applications in the various end-use industries such as automotive, electrical and electronics, pharmaceuticals, military & defense, and others. Moreover, it is estimated that the electrical and electronics industry is set to witness the highest growth due to the growing consumption in insulators, conductors, piezoelectric, and magnetic applications over the forecast period, 2017-2023.
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The global advanced ceramics market is segmented into product type, material, and end-user. On the basis of the product type, the market is segregated into monolithic ceramics, ceramic matrix composites, ceramic coatings, and others. The market by the material is segmented into alumina advanced ceramics, titanate advanced ceramics, zirconate advanced ceramics, ferrite advanced ceramics, and others. The market by the end-user is further categorized into electrical & electronics, automotive, machinery, pharmaceuticals, military & defense, and others.
The electrical and electronic segment followed by the automotive end-user segment is anticipated to observe a higher CAGR during the forecast period 201. The properties such as corrosion resistance, heat resistance makes the use of advanced ceramics in applications such as other electronic components.
The global advanced ceramics market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing at an exponential CAGR. The presence of the most populated countries of the world such as India and China has augmented the demand for various sectors such as the electronics and automotive among others, which, in turn, is anticipated to fuel the demand for advanced ceramics in the region. Moreover, the growing investment in the defense budget has augmented the demand for advanced ceramics, mainly in India and China, which, in turn, is expected to positively affect the growth of the market.
The European region is estimated to witness a significant growth in the countries owing to the burgeoning pharmaceutical and automobile industry. The increasing use of advanced ceramics owing to its enhanced strength, chemical, and heat stability among others has increased the adoption rate in the region. Moreover, the growing application in the environmental engineering coupled with the increased government participation in conservation of the environment is further burgeoning the usage of the product in this region owing to its low VOC content.
The North American advanced ceramics market is mainly driven by the U.S. and Canada. The presence of the developed end-user industries such as automotive and electronics coupled with the increasing adoption rate is contributing significantly to the growth of the market. Moreover, the growing investment in the energy and defense sector is further expected to add fuel to the growth of the market.
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Some of the prominent players operating in the global advanced ceramics market Kyocera Corporation (Japan), CeramTec GmbH (Germany), CoorsTek Inc. (U.S.), Saint-Gobain Ceramic Materials (U.S.), Morgan Advanced Materials Plc (U.K.), 3M Company (U.S.), Rauschert Steinbach GmbH (Germany), Dyson Advanced ceramics Limited (U.K), Superior Advanced ceramics (U.S.), and NGK Spark Plug Co., Ltd. (Japan).