Technical Ceramics Market– Statistics And Analysis & Forecast To 2024


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.
Few players present in the market include Kyocera Corporation, CeramTec GmbH, Morgan Advanced Materials, McDanel Advanced Ceramic Technologies, and Saint-Gobain Ceramic Materials. In March 2016, CoorsTek announced its investments of USD 120.0 million to create a new Center for Technical Materials in Golden, Colorado. This investment will support rapid development of new materials, helping CoorsTek technology and manufacturing customers solve various challenges.
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https://www.grandviewresearch.com/industry-analysis/technical-ceramics-market/request/rs4
Various properties of the technical ceramics such as low thermal expansion, robustness, and high-temperature stability have increased their popularity in different end-uses including electrical & electronics, power and automotive, which in turn is expected to have a positive impact on the industry over the forecast period.
Technical ceramics are expected to replace traditional materials to a high extent over the next eight years on account of their superior functional characteristics. In addition, these materials exhibit greater corrosion resistance, as opposed to other products such as aluminum and steel and hence, are being widely employed in the medical and automotive sectors. The growth of the automotive and medical industries in emerging economies of Asia Pacific is expected to fuel product demand over the next eight years.
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
Alumina held the largest share of 39.6% in 2015. Increasing use of alumina in end-use sectors such as machinery, automotive, and electrical & electronics on account of superior weathering and corrosion resistance properties is expected to fuel industry growth over the next eight years.
The titanate ceramics segment was valued at USD 13.29 billion in 2015. Titanates are well known for the production of the high-quality materials, including potassium titanate and sodium titanate, which are used as friction modifiers in brake pads and linings. The titanates market is led by the U.S. due to its high consumption capacity. Zirconate segment is expected to register a growth rate of 11.4% during the forecast period. Zirconate, often referred as PZT, is one of the main contributors in the production of piezoelectric ceramic materials. It is an intermediate compound with high insoluble properties, especially in water.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-technical-ceramics-market
Grand View Research has segmented the technical ceramics market on the basis of material, product, application, end-use.
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
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.


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