The global advancedceramics market size is projected to reach USD 1, 80,463.4 million by 2028. FortuneBusiness Insights™ presented this information in a new report, titled, “Advanced Ceramics Market, 2021-2028.”The report further mentions that the market stood at USD 82,972.9 million in 2020. It will exhibit a CAGR of 10.2% during the forecast periodbetween 2021-2028. The ongoing technological advancements and rising demand formodern consumer electronic appliances are expected to propel the need for electroceramics.Advanced ceramics is extensively used in such products because of theirpossession of multiple beneficial properties, such as compressive strength.
Kyocera Corporation Acquires 100%Shares of H.C. StarckCeramics GmbH
In February2019, Kyocera Corporation, a multinational ceramics and electronics manufacturerbased in Japan, announced that Kyocera Fineceramics GmbH, its Germany-basedEuropean headquarters signed an agreement to acquire 100% shares of H.C. StarckCeramics GmbH. This acquisition will help Kyocera to introduce itsstate-of-the-art fine ceramic manufacturing assets, innovative technologies,and production lineup in Europe. Such initiatives by prominent companies arelikely to surge the demand for advanced ceramics worldwide.
Shutdown of Manufacturing Plants amid COVID-19 Pandemic MayImpact Growth
Numerouscompanies in the U.S. and other countries have closed their manufacturingplants temporarily amid the COVID-19 pandemic. It has also disturbed supplynetworks in developing economies, such as India and China. Also, electronics and automotive sectors showcaseda decline in revenues backed by work-from-home norms. But, regulatory bodiesare striving to bring everything back to normalcy by encouraging companies tostart production. It would help in surging the demand for advanced ceramics inthe next couple of years.
To get to know more about the short-term and long-term impactof COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/advanced-ceramics-market-105073
Report Coverage-
Theresearch report of the advanced ceramics industry offers a comprehensiveanalysis of existing companies that can affect the market outlook throughoutthe forthcoming years. In addition to that, it provides an accurate assessmentby highlighting data on multiple aspects that may contain growth drivers,opportunities, trends, and hindrances. It also represents the overall marketsize from a global perspective by analyzing historical data and qualitativeinsights.
Drivers & Restraints-
Rising Usage in Making Implant Abutments and Artificial Bonesto Propel Growth
Advancedceramics are gaining more importance in the medical industry. The product hasexcellent aesthetic, physical, and biological properties. Therefore, it isextensively utilized for making endosseous implants, artificial bones, and implantabutments. The industry is also anticipated to use zirconia ceramics. Thesefactors are set to accelerate the advanced ceramics market growth in theforthcoming years. However, the production process of this ceramic involveshigh cost spending as it includes inspection, diamond grinding, sintering, forming,and raw material processing. It may hinder growth.
Segments-
Transportation Segment Generated 21.2% Share in China in 2020:Fortune Business Insights™
Based onthe material, the market is divided into alumina, zirconia, titanate, siliconcarbide, silicon nitride, and others. Below is a brief note on the end-use criterion:
· ByEnd-use: The market is categorized into electrical &electronics, transportation, medical, chemical, and others. Out of these, the transportationsegment held 21.2% in terms of theChina advanced ceramics market share in 2020. This growth is attributable tothe rising usage of the product in aerospace engines and electric water pumps. Onthe other hand, the medical segment earned 18.0%in 2020 on account of the high demand for biodegradable splints and othersimilar products.
Regional Insights-
Increasing Usage of Titanate in Automotive Industry to PropelGrowth in Asia Pacific
· AsiaPacific: The region held USD30,783.0 million in terms of revenue in 2020. It is expected to remain atthe forefront on account of the high demand for the product from the medicalindustry. Besides, increasing usage of titanate in the automotive industry, especiallyin China, is set to aid growth.
· NorthAmerica: The increasing shift of manufacturers towards thisceramic over plastic or other metals is anticipated to help the region remainin the second position. Additionally, the rising production of electronicdevices and electrical equipment in the region would boost growth.
· Europe:The presence of a well-established automotive industry in the region is set toaugment growth in the forecast period. Coupled with this, the urgent need toreduce emissions in the atmosphere would also result in the rising adoption ofelectric vehicles in the region.
Competitive Landscape-
Key Companies Aim to Participate in Acquisition Strategy to Competewith Their Rivals
The market housesseveral prominent manufacturers that are focusing on various organic andinorganic strategies to compete with their rivals. Among them, acquisition isthe most significant strategy. International Syalons, for instance, is aleading producer of silicon nitride and sialon-based ceramics. It often participatesin mergers and acquisitions to broaden its footprints and generate more sales.
A list of reputed advanced ceramics providers operating inthe global market:
· International Syalons (UK)
· KYOCERA Corporation (Japan)
· S&S Advance Ceramics (India)
· Advanced Ceramics Manufacturing(U.S.)
· Nishimura Advanced Ceramics (Japan)
· CeramTec GmbH (Germany)
· CoorsTek Inc. (U.S.)
· Saint-Gobain (U.S.)
· Morgan Advanced Materials (UK)
· Technocera (India)
· Other Key Players
