Post Buying Request

Advanced Ceramics Market to Grow Owing to Enhanced Usage in Electronic Devices Industry

Advanced ceramics, such as alumina nitride, silicon carbide, and titania, are more economical and high-performing in comparison with plastics, metals, and glass, thereby rendering them a good alternative to traditional materials...

From: millioninsights.comDate: 2017-09-28 02:14:27Views: 175

The global advanced ceramics market was valued at USD 56 billion in 2015. The rising demand for electronic devices, notably in the emerging regions such as Asia Pacific, is expected to drive the growth of this industry over the forecast period.

Advanced ceramics, such as alumina nitride, silicon carbide, and titania, are more economical and high-performing in comparison with plastics, metals, and glass, thereby rendering them a good alternative to traditional materials.

The products, particularly the oxide and alumina ceramics, have properties such as, high modulus, wear resistance and inertness, which make them vital in the electronics segment. The rising demand for consumer durables in India, China, and Thailand is expected to be a key driver for the growth of the product during the forecast period.

The growth of this industry can also be attributed to the new manufacturing innovations taking place in the electronic devices segment, most notably in major markets such as Japan and China. In addition, the presence of numerous manufacturers in the region is expected to augment the product demand during the forecast period.

Advanced ceramics materials are widely used in devices, which undergo high wear & corrosion and operate at high temperatures. These products find wide applications in electrical equipment, catalyst supports, electronic devices, engine parts, and bio-ceramics, among which, the electronic devices segment accounted for the largest share in 2015.

Among the key materials considered, alumina ceramics recorded a market share of 35% in 2015. This dominance can be attributed to specific properties such as high resistance to corrosion and weather conditions, which has increased the application scope in the electrical & electronics, automotive, and machinery industries. In addition, alumina is also used as a raw material in the manufacturing of bio-ceramics, which is expected to boost the segment growth during the forecast period.

The ceramic matrix composites segment is slated to witness the highest growth of nearly 13% during the forecast period, as a result of increasing scope in key end-use verticals such as aerospace and automotive. In addition, the ceramic matrix composites find applications in transport equipment, space shuttles, and sports equipment, owing to its durability and hardness.

The advanced ceramics industry has been segmented into electrical & electronics, machinery & automotive, environmental, and medical. Among the aforementioned segments, the environmental sector is expected to witness the highest growth during the forecast period, on account of increased usage in wind turbines and solar panels.

The Asia Pacific region recorded a market share of 35% of the global industry and is slated to continue its dominance through the forecast years. The increased demand from the automotive sector in emerging markets such as India and China and the availability of cheap labor, raw materials, and rapid industrialization in the region are expected to drive this trend.

The advanced ceramics industry is highly competitive, with the presence of a large number of manufacturers across the globe. The advanced ceramics market is dominated by two key participants, Morgan Advanced Ceramics and CeramTec, followed by Elan Technology, Oerlikon Surface Solutions AG, Optech Incorporated, CoorsTek, Kyocera Industrial Ceramics Corporation, 3M Company, DuPont, and Murata Manufacturing Co. Ltd.

share: