- A few of the major factors that are anticipated to drive the growth of the Technical Ceramics Market are rising customer expectations, growing adoption of Wide Web 2.0 technologies, high deployment of cloud-based solutions.
JERSEY CITY, N.J., Oct. 26, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Technical Ceramics Market" By Material Type (Oxide Ceramics, Non-oxide Ceramics), By Product (Monolithic Ceramics, Ceramic Matrix Composites, Ceramic Coatings), By End-User (Automotive, Electrical and Electronics, Medical), and By Geography. According to Verified Market Research, the Global Technical Ceramics Market size was valued at USD 5.21 Billion in 2020 and is projected to reach USD 8.43 Billion by 2028, growing at a CAGR of 6.23% from 2021 to 2028.
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Browse in-depth TOC on "Technical Ceramics Market"
202 - Pages
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Global Technical Ceramics Market Overview
The rise in demand for Technical Ceramics due to its superior properties, reduction in production cost in end-use industries by deploying Technical Ceramics in high-temperature applications, and growing demand for technical ceramics in the medical industry is expected to fuel the growth of global technical ceramics Market. Ceramics are preferred material over the metals in medical sector on account of its numerous benefits such as Ceramics are chemically inert, which explains their resistance to assault. They have a strong compressive strength and a high wear resistance. Because a repetitive production process is utilized to generate a huge number of parts, their production is comparatively affordable. The raw ingredients are plentiful and inexpensive.
The rising automobile demand among consumers, rising disposable incomes and changing lifestyles is likely to drive the demand for the forecast period. Technical ceramics are widely used in the automotive industry. Heat-resistant ceramic parts in engines, such as valve components, crankshaft housing backings, and water and fuel pump components, ensure better efficiency, less wear, and fewer noise emissions. Ceramic-metal composites bring up a whole new universe of light metal construction options. Last but not least, current xenon, halogen, or LED light systems with ceramic components improve visibility greatly, and ceramic armor components developed for ballistic vehicle protection provide the necessary safety for military and emergency vehicles. Furthermore, development in bio-ceramics, increasing use in dental applications are anticipated to propel the market growth
Key Developments in Technical Ceramics Market
- In May 2019, Kyocera Fineceramics GmbH, Kyocera Corporation's Germany-based European headquarters, successfully completed the acquisition of Friatec's advanced ceramics business operations.
- In June 2020, Morgan Advanced Materials announced acquisition of Carbo San Luis, a producer of the insulating, unshaped-basic, and non-basic-preshaped and pressed refractory products and ceramic fibers
The major players in the market are KYOCERA Corporation, Albemarle Corporation, Morgan Advanced Materials plc, Rauschert GmbH, McDanel Advanced Ceramic Technologies, CoorsTek Inc., Saint-Gobain S.A., 3M, NGK Spark Plug Co., Ltd., KCC CORPORATION, and Others.
Verified Market Research has segmented the Global Technical Ceramics Market On the basis of Material Type, Product, End-User, and Geography.
- Technical Ceramics Market, By Material Type
- Oxide Ceramics
- Non-oxide Ceramics
- Others
- Technical Ceramics Market, By Product
- Monolithic Ceramics
- Ceramic Matrix Composites
- Ceramic Coatings
- Other
- Technical Ceramics Market, By End-User
- Automotive
- Electrical and Electronics
- Medical
- Defense and Aerospace
- Others
- Technical Ceramics Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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