(I-BusinessNews.Com, May 12, 2021 ) Advanced Ceramics Market size is forecast to reach $12.5 billion by 2025, after growing at a CAGR of 6.5% during 2020-2025. The market is primarily driven by advanced ceramic properties, such as high temperature stability, resistance to corrosion, light weight, low thermal expansion and a wide range of electrical properties, from insulators and semiconductors to highly conductive materials. Advanced ceramics are used in a wide variety of end-use industries, such as electrical & electronics, medical, transportation, environmental, chemical, protection & safety, among others, because of these properties. The growth in the segment over the projected period is expected to increase the demand for electrical equipment and electronic devices. However, owing to the COVID-19 pandemic, the segment is expected to experience slow development for a couple of years.
Advanced Ceramics Market Segment Analysis – By Material
The market was dominated by Alumina which accounted for the greatest share in 2019. Over the projected era, the segment is anticipated to retain its supremacy. These materials have outstanding properties which make them acceptable to conditions of wear, shape, and corrosion. These are commonly used in semiconductor equipment, heat resistance & electrical insulation components, and wafer transition parts. As it offers dielectric and ferroelectric properties that drive its demand in the electronics industry, zirconate is one of the critical materials. In addition, it is applicable in actuators, ultrasound transducers, FRAM chips, and capacitors because of its capacity to withstand mechanical stress along with high electrical voltage.
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Advanced Ceramics Market Segment Analysis – By End-Use
The largest segment in 2019 was electrics & electronics. In various applications such as power electronics, electronic sensors, and wafer processing, the commodity is prominently used in the industry. In addition, automotive accounted for a substantial market share in 2019 and will continue to grow at a steady CAGR from 2020 to 2025, owing to the widespread use of products in electric water pumps used to regulate engine and battery temperature components to ensure durability and performance. During the forecast era, growth in the electric vehicles (EVs) industry is expected to propel the growth of the automotive end-use market.
Advanced Ceramics Market Segment Analysis – Geography
The global market was led by Asia Pacific which accounted for the largest share in 2019. Increasing investments in the manufacturing sector of emerging economies such as China, Japan, India and Southeast Asia, are driving development in the region. Significant growth is anticipated in the region’s electronics industry, as main companies look forward to building their plants in these countries because of the easy availability of low-cost raw materials and labor. Whereas, North America has a significant share of the market. It is anticipated that growing focus on the advancement of the region’s manufacturing industry, combined with the advantages of inculcating advanced ceramics in industries such as aerospace and automotive, would accelerate demand growth.
Advanced Ceramics Acid Market Drivers
Ongoing advancements in electronics technologies
It is expected that continuing developments in electronics technology and increasing demand for new consumer electronics appliances will force manufacturers to add innovative features to their offerings in the advanced ceramics industry. For example, the most sought-after parameters of electroceramics in the coming years will remain the higher wear resistance, compressive power and high pressure and temperature resistance properties of advanced ceramics. This will further influence the recent trends in the advanced ceramics market globally.
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Advanced Ceramics Acid Market Challenges
Advanced Ceramics Industry Sees Steep Production Cutbacks During the COVID-19 Pandemic
In most manufacturing industries, the COVID-19 pandemic has had a major influence, and the advanced ceramics industry is no exception. Any of the businesses involved in the supply chain were considered necessary, even after the lockdown, and were operations. Most of the players, however, had to keep their production facilities closed during the lockdown, thereby seeing significant supply chain problems.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Advanced Ceramics Acid market. In 2019, the market of Advanced Ceramics Acid has been consolidated by the top five players accounting for xx% of the share. Advanced Ceramics Acid Market top 10 companies are 3M, CeramTec GmbH, Elan Technology, Oerlikon Surface Solutions AG, Ortech Inc., Morgan Advanced Materials PLC, CoorsTek, Inc., Kyocera Industrial Ceramics Corp., Murata Manufacturing Co. Ltd., and Saint-Gobain, among others.
Key Takeaways
Increased use of photovoltaic cells, wind turbines and applications for emission control and growing silicon carbide (SiC) and gallium nitride (GaN) applications are likely to be possibilities in the future.
Due to a broad variety of electrical properties of advanced ceramics, including insulating, semi-conducting, superconducting, piezoelectric, and magnetic properties, the electronic and electrical industries have dominated the industry and are projected to expand during the forecast period.
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