The Global Advanced Ceramics Market is surging with a rapid CAGR due to high demand for Advanced Ceramics by the end-user industries. This is expected to drive the market growth during the forecast period of 2017-2023, estimates Market Research Future (MRFR). Furthermore, the growing automotive and electrical & electronic industry in the developing regions contribute to the growth considerably. In addition, the viable replacement of metal and plastics with advanced ceramics in the automobile sector and other industries can also influence the growth of the market positively.
Increasing demand in applications with respect to energy efficiency, environmental protection, and others are expected to fuel the market growth. Increasing research and development expenditure with growing demand for new applications is also expected to boost the market growth over the forecast period. In addition, the growing automotive and electrical & electronic sectors in the developing regions are deemed to propel the growth of the Advanced Ceramics Market substantially. Additionally, the viable replacement of metal and plastics with Advanced Ceramics in the automobile sector among others is also expected to contribute to the growth of the market.
However; the Advanced Ceramics Market faces many challenges such as consistent material properties, component cost, environmental impact, and collection of long-term data. However, with the advent of new application, the Advanced Ceramics Market will witness further growth.
Kyocera has developed electric vehicles along with GLM Corporation. The car is equipped with a line of latest devices and systems such as a rearview camera with an AI-based image recognition system, sensors for advanced driver-assist systems (ADAS), and an LCD screen for heads-up display (HUD) units. With this move, Kyocera is now extending its hands into innovation of automotive technology.
In June 2018, Saint-Gobain is partnering with Greentown Labs, a U.S. firm to renovate a historic building with modern technology. The building will be fitted with electrochromic glass which darken in presence of excessive sunlight and prevent glare. It will assist in the construction of the building by supplying it with smart materials and achieve sustainability goals. This building is expected to be home to new startups aiming to solve complex climate challenges.
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The Global Advanced Ceramics Market is segmented on the basis of Product Type, Material and End-User.
By Product Type, the market is segmented into monolithic ceramics, ceramic matrix composites, ceramic coatings, and others. Much of the demand for monolithic ceramics comes from end users like automotive, electrical and electronics, power and defense industries. Extensive demand for electronic devices, such as laptops and mobile phones, has been instrumental for the surge in the market for these materials. On the other hand, the mass production of ceramic matrix composites leads to lower prices which makes it a popular commercial choice over other matrix composites. Huge demand in the aerospace and defense industry on account of low-interest rates, presence of imminent players, and stringent environmental regulations emphasizing on the use of lightweight and fuel-efficient materials are factors that can fuel the growth of this segment in the market.
The market is segmented on the basis of material into alumina advanced ceramics, titanate advanced ceramics, zirconate advanced ceramics, ferrite advanced ceramics, and others. Alumina advanced ceramics material segment is expected to lead the market with the highest CAGR during the forecast period. The growing adoption by the automobile, machinery, and electrical and electronics industries is expected to contribute to the segment’s growth. Furthermore, the advantages of advanced alumina ceramics such as weather and corrosion resistance also fuel the growth of the segment.
By End-User, the market is segmented into electrical & electronics, automotive, machinery, pharmaceuticals, military & defense, and others. The electrical & electronics segment is presumed to continue its dominance over the forecast period. Applications of advanced ceramics are increasing in insulating, semiconducting and superconducting, magnetic, and piezoelectric. In addition, being more cost-efficient than metal and more durable than plastic, advanced ceramics are highly popular in the automotive industry. Owing to the high strength and light weight, advanced ceramics are used to make exterior aerospace and defense components such as exhaust nozzle, nose cap, and engines. Therefore, major companies are expanding their production facilities to meet increasing demand for advanced ceramics from aircraft manufacturers.
Geographically, the Global Advanced Ceramics Market is spread across Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Among these, Asia Pacific is projected to be the fastest growing region with a healthy CAGR owing to increasing population and per capita disposable income levels of consumers. Moreover, increasing demand for Advanced Ceramics in the automobile and electronics industries in countries such as India, China, and Japan, can attribute to the market growth. Moreover, competitive manufacturing cost and stringent government regulations make a positive impact on the market in this region. The growing defense budget ofcoupled with increasing application of advanced ceramics in modern armor aides the growth of the market in these countries.
On the other hand, North America is another dominant region in the global market expected to grow at a steady CAGR. The presence of automobile companies such as Ford, General Motors, and Fiat Chrysler elevates the overall demand for advanced ceramics in the automobile industry. Developed end-user industries such as pharmaceutical and electrical and electronics along with the increasing adoption rate add to the growth of the market. Canada and the U.S. are the major countries attributing to the growth of the market. The market is highly driven by healthcare and electronic industries, rising research and development for implementing better technology, and developing high quality products. North America market is highly competitive further enhancing market for advanced ceramics.
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