Advanced Ceramics Market Growth & Trends

 The global advanced ceramics market size is expected to reach USD 147.34 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.0% from 2022 to 2030. Increasing demand for high-performing lightweight materials in industries such as telecom, automotive, aerospace, and medical is propelling the market growth.

Advanced ceramics, also referred to as engineered or technical ceramics, are developed to withstand harsh environments. They are manufactured from high-purity and inorganic compounds. They can be differentiated from traditional ceramics based on their raw materials, structures, manufacturing processes, and functionalities.

The global demand for advanced ceramics is increasing owing to their enhanced characteristics. These are used for developing specialized components with improved mechanical and physical properties for use in different industries based on their requirements. They are used for manufacturing 3D printed components, solid oxide fuel cells, piezoelectric ceramics, multi-component ceramic slurries, ceramic tapes, and ceramic fiber composites.

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 After the decline in 2020 owing to COVID-19, the market picked up pace in 2021 and is expected to witness steady growth over the forecast period. Advanced ceramic materials exhibit a very high degree of industrial efficiency. This results in their rising demand for use in heavy machinery, automotive, energy, cutting tools, and defense applications. The rise in defense budgets in countries such as the U.S. and China has played a key role in propelling product demand in the last few years and this trend is expected to continue over the forecast period.

The market is competitive on account of rising product demand and the presence of established players, which are integrated across different stages of the value chain to sustain their market share. Market players are adopting strategies like acquisition and new product development to cater to the growing product demand in different applications and expand their consumer reach and presence.

For instance, in February 2022, Tata Steel Advanced Materials Limited (TSAML) executed an agreement to acquire a 90% equity stake in Ceramat Private Limited (CPL). Advanced ceramics has been identified as a material with immense growth potential by Tata Steel, especially in the medical sector, which compelled it to acquire CPL through its subsidiary. Tata Steel aims to set up a production facility for medical materials through CPL. Such investments indicate a steady growth trajectory for the market over the coming years.

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 Advanced Ceramics Market Segmentation

Grand View Research has segmented the global advanced ceramic market on the basis of material, product, application, end-use, and region:

Advanced Ceramics Material Outlook (Revenue, USD Million, 2017 - 2030)

• Alumina
• Titanate
• Zirconate
• Ferrite
• Aluminum Nitride
• Silicon Carbide
• Silicon Nitride

Advanced Ceramics Product Outlook (Revenue, USD Million, 2017 - 2030)

• Monolithic
• Ceramic Coatings
• Ceramic Matrix Composites (CMCs)

Advanced Ceramics Application Outlook (Revenue, USD Million, 2017 - 2030)

• Electrical Equipment
• Catalyst Supports
• Electronic Devices
• Wear Parts
• Engine Parts
• Filters
• Bioceramic
• Others

Advanced Ceramics End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Electrical & Electronics
• Automotive
• Machinery
• Environmental
• Medical
• Others
• Regional Outlooknquiry Before Buying @

o   North America

o   Europe

o   Asia Pacific

o   Central & South America

o   Middle East & Africa

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 About Us:

  Grand View Research is an India & 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. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.

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