Advanced ceramics are inorganic, non-metallic solids with a crystalline structure that exhibit special qualities such as high temperature stability, corrosion resistance, and dimensional stability. They are primarily used in construction, electrical/electronics, transportation, medical, and other industrial applications. Advanced ceramics find extensive usage as bio-ceramics in orthopedic and dental applications owing to their high hardness, wear resistance, biocompatibility, and chemical inertness. They are also employed in the manufacturing of sensor components, electronics substrates, catalytic converters, heat exchangers, and cutting tools.
The global advanced ceramics market is estimated to be valued at US$ 91617.4 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Ceramics such as bioinert alumina and zirconia are extensively used in orthopedic and dental implants owing to their biocompatibility and mechanical strength. They provide a more durable and dependable alternative to metals and composite materials commonly used for implants. Furthermore, advanced ceramics also find wide application in medical devices such as x-ray tubes, MRI components, oxygen sensors, and implantable defibrillators due to properties like electrical insulation, thermal stability, and heat resistance. Another driver for this market is the flourishing demand from the electrical and electronics industry. Advanced ceramics are gaining traction as substrates for electronic packages and multilayer ceramic capacitors due to their high dielectric constant, resistance to thermal and mechanical shock, and dimensional stability.Their demand is expected to grow with the proliferation of 5G networks and expanding consumer electronics segment.
Segment Analysis
Advanced Ceramics sub-segments include electronic ceramics, refractory, wear-resistant, bioceramics and others. The electronic sub-segment dominates the advanced ceramics market owing to increasing use of ceramics in electronics applications like capacitors, piezoelectric transducers, semiconductor packaging and others. Ceramics offer properties like high mechanical strength at elevated temperatures, high temperature stability, corrosion and oxidation resistance which make them suitable for electronics applications.
PEST Analysis
Political: Governments across regions are supporting R&D in advanced materials including ceramics to drive innovations. For example, governments provide funds for ceramic research.
Economic: Growth of end-use industries like electronics and automotive is driving the advanced ceramics market. The market is expected to grow at a CAGR of 10% during 2023-2030 indicating strong economic growth.
Social: Increasing demand for miniaturized electronic devices and fuel efficient vehicles is increasing the demand for advanced ceramics from a social perspective.
Technological: Developments in ceramic processing techniques like 3D printing, precision manufacturing enable new applications. Use of nanotechnology for enhancing ceramic properties is a key technology impacting the market.
Key Takeaways
The Global Advanced Ceramics Market Size was valued at USD 91617.4 Mn in 2024 and is expected to expand at a CAGR of 10% during the forecast period.
Regionally, Asia Pacific dominated the market and is expected to maintain lead owing to large electronic and automotive manufacturing base in the region especially in China and India.
Key players operating in the advanced ceramics market are 3M (Ceradyne Inc.), AGC Inc., Applied Ceramics, Blasch Precision Ceramics Inc., Ceramtec, COI Ceramics Inc., Coorstek Inc., Corning Incorporated, International Ceramics Inc., Kyocera Corporation, MARUWA Co. Ltd, Materion Corporation, McDanel Advanced Ceramic Technologies, Morgan Advanced Materials, Murata Manufacturing Co. Ltd, Rauschert GmbH, Saint-Gobain, Small Precision Tools Inc., Vesuvius, and Wonik QnC Corporation. These companies are involved in new product launches, expansion of manufacturing facilities and strategic collaborations to enhance their market share.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it