The global technical ceramics market is expected to reach USD
134.58 billion by 2024, according to a new report by Grand View Research, Inc.
Rising product need in various end-use industries owing to their cost
effectiveness and increased life span as opposed to their traditional counterparts
is expected to positively impact the market over the forecast period.
Increasing automobile demand among consumers particularly in Asia Pacific
countries including China and India on account of rising disposable income and
changing lifestyle is expected to fuel technical ceramics market over the
forecast period. Also, rising product use as a substitute to plastics and
metals in numerous high-performance applications in the medical and automotive
sector is expected to propel growth over the next eight years.
These products have been gaining acceptance over the past
few years on account of growing awareness regarding their benefits such as
biodegradability, durability, and high tensile strength. Rising environmental
concerns coupled with stringent regulations by governments in North America and
Europe are expected to further propel product demand over the next eight years.
Browse full research report on Technical Ceramics Market http://www.grandviewresearch.com/industry-analysis/technical-ceramics-market
Further key findings from the report suggest:
- The
global technical ceramics market value was USD 56.7 billion in 2015 and is
expected to grow at a CAGR of over 10% from 2016 to 2024.
- Titanates
are expected to be the fastest growing material segment from 2016 to 2024
at a CAGR over 11% in terms of revenue owing to their increasing use as
capacitors. Rising need for energy storage worldwide is expected to propel
product demand.
- The
monolithic ceramic market was estimated at over USD 45 billion in 2015.
The product is employed in numerous insulation and lining applications as
they are resistant to thermal shock as well as abrasion and can withstand
tremendously high temperatures. These factors are expected to positively
impact growth over the forecast period.
- Bioceramics
application was valued at above USD 2 billion in 2015. The segment is
expected to grow at a fast pace over the next eight years on account of
its rising use in joint and hip replacements.
- Medical
sector demand for the product was estimated at above 6 billion in 2015.
Increasing need from this industry in various applications such as dental
implants and bone & tissue replacements is expected to propel product
industry over the forecast period.
- North
America was one of the largest markets for the product and is expected to
grow at a CAGR of over 9% from 2016 to 2024. Stringent environmental
regulations have led to increased product use as it aids in controlling
pollution. Additionally, stringent emission standards in North America and
Europe are expected to provide growth opportunities for the product over
the next eight years.
- In
November 2015, Oerlikon Metco signed an agreement with Laser Cladding
Services, LLC to acquire its traditional ceramics business. In July 2015,
Morgan Advanced Materials invested in the semiconductor market in order to
improve its production capabilities
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has segmented the global technical
ceramics market on the basis of material, product, application, end-use and
region:
Technical Ceramics Material Outlook (Revenue, USD
Million, 2013 - 2024)
- Alumina
ceramics
- Titanate
ceramics
- Zirconate
ceramics
- Ferrite
ceramics
- Aluminum
nitride
- Silicon
carbide
- Silicon
nitride
Technical Ceramics Product Outlook (Revenue, USD Million,
2013 - 2024)
- Monolithic
ceramics
- Ceramic
coatings
- Ceramic
matrix composites
Technical Ceramics Application Outlook (Revenue, USD
Million, 2013 - 2024)
- Electrical
equipment
- Catalyst
supports
- Electronic
devices
- Wear
parts
- Engine
parts
- Filters
- Bioceramics
- Others
Technical Ceramics End-use Outlook (Revenue, USD Million,
2013 - 2024)
- Electrical
& electronics
- Automotive
- Machinery
- Environmental
- Medical
- Others
Technical Ceramics Regional Outlook (Revenue, USD
Million, 2013 - 2024)
- North
America
- U.S.
- Europe
- Germany
- UK
- Asia
Pacific
- China
- India
- Latin
America
- Brazil
- MEA
- Saudi
Arabia
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-technical-ceramics-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information: www.grandviewresearch.com
No comments:
Post a Comment