The global advanced ceramics market is expected to reach USD
134.58 billion by 2024, according to a new report by Grand View Research, Inc.
Rising product demand in numerous end-use industries on account of their longer
life span, cost effectiveness as opposed to their conventional counterparts is
expected to have a positive impact on the market over the next eight years.
Rising automobile demand among
consumers on account of changing lifestyle and increasing disposable income is
expected to fuel product need over the forecast period. In addition, the
product has been substituting metals and plastics in high performance
applications in the automotive sector which will propel industry growth over
the projected period.
Advanced ceramics have been
gaining high acceptance among consumers over the past few years due to rising
awareness regarding their benefits such as high tensile strength,
biodegradability and durability. Rising environmental concerns are expected to
further fuel product demand over the next eight years.
Browse full research report on Advanced Ceramics Market: http://www.grandviewresearch.com/industry-analysis/advanced-ceramics-market
Further key findings from
the report suggest:
- Global advanced ceramics market value was USD 56.70
billion in 2015 and is projected to reach USD 134.58 billion by 2024,
growing at a CAGR of 10.2% from 2016 to 2024
- Titanate ceramics are expected to be the fastest
growing material segment at a CAGR over 11.5% from 2015 to 2024 in terms
of revenue on account of their increasing use as capacitors. Rising need
for energy storage globally is expected to boost product demand
- Monolithic ceramic market was estimated at over USD
45 billion in 2015. The product is employed in various lining and
insulation applications as they can withstand extremely high temperatures,
and are resistant to abrasion as well as thermal shock. These factors are
expected to positively impact industry growth over the forecast period.
- Bioceramics application segment was valued at over
USD 2 billion in 2015. It is expected to be the fastest growing segment on
account of its increasing use in hip and joint replacements
- Medical sector was estimated at over 6
billion in 2015. Rising demand from this industry for various
applications such as tissue & bone replacements, and dental implants
is expected to propel product demand over the next eight years.
- North America was the second largest market and is
expected to grow at a CAGR over 9.5% from 2016 to 2024 in terms of
revenue. Strict environmental regulations have led to increased product
use as it aids in pollution control. In addition, stringent emission
standards in Europe and North America are expected to provide growth
opportunities for ceramic filters over the next eight years.
- In November 2015, Oerlikon signed an agreement to
acquire the advanced ceramics business of Laser Cladding Services, LLC. In
July 2015, Morgan Advanced Materials invested in the semiconductor market.
to optimize its manufacturing capabilities
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Advanced Ceramics Material Outlook (Revenue, USD Million,
2013 - 2024)
- Alumina
ceramics
- Titanate
ceramics
- Zirconate
ceramics
- Ferrite
ceramics
- Others
Advanced Ceramics Product Outlook (Revenue, USD Million,
2013 - 2024)
- Monolithic
ceramics
- Ceramic
coatings
- Ceramic
matrix composites
Advanced Ceramics Application Outlook (Revenue, USD
Million, 2013 - 2024)
- Electrical
equipment
- Catalyst
supports
- Electronic
devices
- wear
parts
- Engine
parts
- Filters
- Bioceramics
- Others
Advanced Ceramics End-use Outlook (Revenue, USD Million,
2013 - 2024)
- Electrical
& electronics
- Automotive
- Machinery
- Environmental
- Medical
- Others
Advanced 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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