Advanced Ceramics Market Worth 10.41 Billion USD by 2021
PUNE, India, February 17, 2017 /PRNewswire/ --
The report "Advanced Ceramics Market by Material (Titanate, Alumina, Zirconia, Silicon Carbide), Class (Monolithic Ceramics, Ceramic Coatings, Ceramic Matrix Composites), End-Use Industry (Medical, Electrical & Electronics), and Region - Global Forecast to 2021", published by MarketsandMarkets, the market is estimated to grow from USD 7.15 Billion in 2015 to USD 10.41 Billion by 2021, at a CAGR of 6.5% during the forecast period.
Browse 87 market data Tables and 41 Figures spread through 157 Pages and in-depth TOC on "Advanced Ceramics Market"
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This growth can be attributed to the growing demand for advanced ceramics in the medical industry, especially for joint implantation and dental procedures, owing to their chemical inertness and low wear resistance property. These properties of advanced ceramics make it a preferred material over metals and plastics.
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Based on end-use industry, the electrical & electronics segment is projected to lead the advanced ceramics market during the forecast period
Based on end-use industry, the electrical & electronics segment is projected to lead the advanced ceramics market during the forecast period. Advanced ceramics are used in the electrical & electronics industry on a large scale, owing to their various properties such as damage tolerance, fracture toughness, high temperature resistance, and wear & tear, and corrosion resistance. In addition, the use of these ceramics reduce the overall weight of electronics, which has propelled the demand for these ceramics in the electrical & electronics industry.
Based on class, the ceramic coatings segment is projected to grow at the highest CAGR during the forecast period
The ceramic coatings segment is projected to grow at the highest CAGR from 2016 to 2021. Ceramic coatings are corrosion-resistant, which decreases the maintenance cost of products of various end-use industries such as electrical & electronics, transportation, and defense & security. In addition, the growing use of plasma sprayed coating in semiconductor and LCD equipment is also driving the demand for ceramic coatings.
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Asia-Pacific projected to grow at the highest CAGR from 2016 to 2021
The Advanced Ceramics Market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period due to the increasing use of advanced ceramics in various industries such as electrical & electronics, chemical, transportation, environmental, and defense & security in emerging economies of the region such as China and India. Asia-Pacific is the largest market for advanced ceramics. It is estimated that India will be the fastest-growing market for advanced ceramics in the region, owing to the growing population of the country, favorable investment policies, and government initiatives to promote industrial growth.
Some of the key players in the advanced ceramics market are Kyocera Corporation (Japan), CeramTec GmbH (Germany), CoorsTek Inc. (U.S.), Saint-Gobain Ceramic Materials (U.S.), and Morgan Advanced Materials Plc (U.K.). Investments & expansions, and new product development were the major growth strategies adopted by the market players between 2012 and 2016 to enhance their regional footprint and meet the growing demand of advanced ceramics in developing economies.
Browse Related Reports:
Electronics Ceramics & Electrical Ceramics Market by Material (Alumina, Silica, Zirconia), Product (Monolithic Ceramics, Ceramic Matrix Composites), End-Use Industry (Home Appliances, Power Grids, Medical Devices), and Region - Global Forecast to 2021
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