Advanced Ceramics Industry Overview
The global Advanced Ceramics Market reached an estimated size of USD 107.00 billion in 2023. It is projected to grow at a Compound Annual Growth Rate (CAGR) of 4.2% from 2024 to 2030. This market expansion is expected to be driven by the increasing demand for advanced ceramics across various industries, alongside growth in the medical and telecom sectors. Advanced ceramics, also known as technical ceramics, are characterized by their enhanced magnetic, optical, thermal, and electrical conductivity properties. Their utilization allows end-users to achieve higher efficiency in their final products, thereby reducing production and energy costs. In terms of consumption, the Asia Pacific region stands as the leading market for advanced ceramics globally.
Detailed Segmentation:
- Product Insights
Monolithic held the largest revenue share of over 78.0% in 2023 and is expected to dominate the market throughout the forecast period. The product's high-temperature resistance, reliability, and durability make it a vital component in both electronic devices and vehicles. Its exceptional characteristics ensure the best performance and longevity, thereby enhancing the overall quality of end products.
- Material Insights
The alumina material segment held the largest revenue share of over 34.0% in 2023 and this trend is anticipated to continue over the forecast period. Alumina-based advanced ceramics are used for harsh applications that need characteristics, such as thermal stability and wear resistance. Some of the applications include high-voltage semiconductor parts, mechanical seals, insulators, and ballistic armour.
- Application Insights
The bioceramic segment is expected to register the fastest growth rate during the forecast years due to the increasing focus on the medical sector in different countries. Bioceramic materials are used in dental implants and as replacement parts in knee and hip surgeries. For instance, more than 2.0 million hip surgeries are done every year across the world, and this number is expected to increase further owing to the increasing affordability of these surgeries.
- End-use Insights
The electrical and electronics end-use segment held the largest revenue share of over 56.0% in 2023 and is anticipated to dominate the market over the forecast period. Advanced ceramics possess superconducting, semiconducting, piezoelectric, and magnetic properties. They have various applications in the electrical and electronics industry, including spark capacitors, plugs, inductors, resistors, and circuit protection devices.
The medical segment is expected to register the second-fastest CAGR from 2024 to 2030. The product possesses several properties, such as high compressive strength, low friction coefficient, high wear & chemical resistance, and non-toxicity, that make it ideal for medical applications. It can be used in a variety of implantable medical devices, diagnostic imaging equipment, therapeutic medical devices, and consumable medical devices.
- Regional Insights
The U.S. advanced ceramics market is anticipated to grow at a CAGR of 4.0% over the forecast period. Rapidly growing electronics, medical, and electric vehicle (EV) industries in the region are expected to stimulate market growth. Moreover, the market is expected to grow due to a surge in demand for high-quality semiconductors that enable ultra-high frequency signal transmission, resulting in improved connectivity.
Gather more insights about the market drivers, restraints, and growth of the Advanced Ceramics Market
Key Companies & Market Share Insights
The following are the leading companies in the advanced ceramics market. These companies collectively hold the largest market share and dictate industry trends.
- 3M
- AGC Ceramics Co., Ltd.
- CeramTec GmbH
- CoorsTek Inc.
- Elan Technology
- KYOCERA Corporation
- Morgan Advanced Materials
- Murata Manufacturing Co., Ltd.
- Nishimura Advanced Ceramics Co., Ltd.
- Ortech Advanced Ceramics
- Saint-Gobain
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Recent Developments
- In February 2023, MO SCI Corp., completed the acquisition of 3M's advanced materials business. This strategic move encompasses the transfer of more than 350 specialized pieces of equipment and associated intellectual property. By the fourth quarter of 2023, all acquired assets, including equipment and technology, will be fully integrated and operational at MO SCI Corp.'s headquarters in Rolla, Missouri
- In June 2022, CoorsTek allocated more than USD 50 million towards the establishment of a cutting-edge advanced materials manufacturing campus spanning 230,000 square feet. This strategic investment aims to drive further innovation across multiple markets. The expansion represents a substantial commitment by CoorsTek to enhance its Benton facility, marking a pivotal milestone in the company's ongoing long-term investment strategy in Arkansas
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