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
Access Research Insight By Grand View Reseach: http://www.grandviewresearch.com/research-insights/technical-ceramics-effective-alternatives-to-plastics-and-steel
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
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.
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