Theglobal advanced ceramicsmarket size is projected to reach USD 1, 80,463.4 million by2028. FortuneBusiness Insights™ presented this information in a new report,titled, “AdvancedCeramics Market, 2021-2028.” The report further mentions thatthe market stood at USD82,972.9 million in 2020. It will exhibit a CAGR of 10.2% during theforecast period between 2021-2028. The ongoing technological advancements andrising demand for modern consumer electronic appliances are expected to propelthe need for electroceramics. Advanced ceramics is extensively used in suchproducts because of their possession of multiple beneficial properties, such ascompressive strength.
Report Coverage-
The research 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 market size from aglobal perspective by analyzing historical data and qualitative insights.
BrowseComplete Report Summary@ https://www.fortunebusinessinsights.com/advanced-ceramics-market-105073
Drivers & Restraints-
Rising Usage in Making Implant Abutments and Artificial Bones toPropel 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, andimplant abutments. The industry is also anticipated to use zirconia ceramics.These factors 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.
Competitive Landscape-
Key Companies Aim to Participate in Acquisition Strategy toCompete with Their Rivals
Themarket houses several prominent manufacturers that are focusing on variousorganic and inorganic strategies to compete with their rivals. Among them,acquisition is the most significant strategy. International Syalons, forinstance, is a leading producer of silicon nitride and sialon-based ceramics.It often participates in mergers and acquisitions to broaden its footprints andgenerate more sales.
A list of reputed advanced ceramics providers operating in theglobal 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
Kyocera Corporation Acquires 100% Shares of H.C. Starck CeramicsGmbH
InFebruary 2019, Kyocera Corporation, a multinational ceramics and electronicsmanufacturer based in Japan, announced that Kyocera Fineceramics GmbH, itsGermany-based European headquarters signed an agreement to acquire 100% sharesof H.C. Starck Ceramics GmbH. This acquisition will help Kyocera to introduceits state-of-the-art fine ceramic manufacturing assets, innovativetechnologies, and production lineup in Europe. Such initiatives by prominentcompanies are likely to surge the demand for advanced ceramics worldwide.
Shutdown of Manufacturing Plants amid COVID-19 Pandemic May ImpactGrowth
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 showcased a decline in revenues backed bywork-from-home norms. But, regulatory bodies are striving to bring everythingback to normalcy by encouraging companies to start production. It would help insurging the demand for advanced ceramics in the next couple of years.
Segments-
Transportation Segment Generated 21.2% Share in China in2020: Fortune Business Insights™
Basedon the material, the market is divided into alumina, zirconia, titanate,silicon carbide, silicon nitride, and others. Below is a brief note on theend-use criterion:
- By End-use: The market is categorized into electrical & electronics, transportation, medical, chemical, and others. Out of these, the transportation segment held 2% in terms of the China advanced ceramics market share in 2020. This growth is attributable to the rising usage of the product in aerospace engines and electric water pumps. On the other hand, the medical segment earned 18.0% in 2020 on account of the high demand for biodegradable splints and other similar products.
