San Francisco,15
October 2018: 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 customary counterparts, is expected to positively
impact the market over the forecast period.
Rising automobile demand
among consumers, particularly in Asia Pacific countries including China and
India, on account of rising disposable incomes and changing lifestyles, is
expected to fuel product demand over the forecast period. In addition, rising
product use as a substitute to plastics and metals in numerous high-performance
applications, in the medical and automotive sectors, is expected to propel
growth over the forecast 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.
The global industry is
also expected to witness considerable growth over the next eight years owing to
their increasing product use in the electronic & electricals industry.
Rising electronic devices demand among consumers, most notably in the Asian
continent, is expected to have a positive impact on the product demand over the
forecast period.
The extensive use of
coated machinery components, coupled with shifting preference among consumers
to technical coatings and breakthroughs in deposition processes, are expected
to open new market opportunities for the products over the forecast period. Key
factors expected to challenge industry growth include regulatory as well as
environmental issues, and competition from alternative materials.
Access Research Report
of Technical Ceramics
Market @ www.grandviewresearch.com/industry-analysis/technical-ceramics-market
Further key findings from the report suggest:
· The global technical ceramics market was
valued at USD 56.70 billion in 2015 and is expected to grow at a CAGR of over
10.2% from 2016 to 2024
· Titanates are expected to be the
fastest-growing segment from 2016 to 2024, at a CAGR over 11.5% in terms of
revenue, owing to their increasing use as capacitors.
· The monolithic ceramics segment 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 and
can withstand tremendously high temperatures
· The bioceramics application segment was
valued at over USD 2 billion in 2015 and 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 USD 6 billion in 2015, on account of Increasing need from
this industry in various applications, such as dental implants and bone &
tissue replacements
· North America was one of the largest
markets for the product and is expected to grow at a CAGR of over 9.5% from
2016 to 2024, in terms of revenue. Stringent environmental regulations have led
to increased product use as it aids in controlling pollution.
· 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 at: www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has
segmented the technical ceramics market on the basis of material, product,
application, end-use and region.
Material Outlook (Revenue, USD Million; 2013 - 2024)
·
Alumina ceramics
·
Titanate ceramics
·
Zirconate ceramics
·
Ferrite ceramics
·
Aluminum nitride
·
Silicon carbide
·
Silicon nitride
Product Outlook (Revenue, USD Million; 2013 - 2024)
·
Monolithic ceramics,
·
Ceramic coatings
·
Ceramic Matrix Composites
Application Outlook (Revenue, USD Million; 2013 - 2024)
·
Electrical equipment
·
Catalyst supports
·
Electronic devices
·
wear parts
·
Engine parts
·
Filters
·
Bioceramics
·
Others
End-use Outlook (Revenue, USD Million; 2013 - 2024)
·
Electrical & electronics
·
Automotive
·
Machinery
·
Environmental
·
Medical
·
Others
Regional Outlook (Revenue, USD Million; 2013 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
Access Press Release of
Technical Ceramics Market@ 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.