San Francisco, 17 October 2018 , 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.
These
products have been gaining acceptance over the past few years on account of
growing awareness regarding their benefits such as biodegradability,
durability, and high tensile strength. Rising environmental concerns, coupled
with stringent regulations by governments in North America and Europe, are
expected to further propel product demand over the next eight years.
The global
industry is also expected to witness considerable growth over the next eight
years owing to their increasing product use in the electronic & electricals
industry. Rising electronic devices demand among consumers, most notably in the
Asian continent, is expected to have a positive impact on the product demand
over the forecast period.
The
extensive use of coated machinery components, coupled with shifting preference
among consumers to technical coatings and breakthroughs in deposition
processes, are expected to open new market opportunities for the products over
the forecast period. Key factors expected to challenge industry growth include
regulatory as well as environmental issues, and competition from alternative
materials.
Full Research Report On Technical Ceramics Market Analysis:
www.grandviewresearch.com/industry-analysis/technical-ceramics-market
www.grandviewresearch.com/industry-analysis/technical-ceramics-market
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
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has segmented the
technical ceramics market on the basis of material, product, application,
end-use and region.
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
Regional
Outlook (Revenue, USD Million; 2013 - 2024)
·
North America
o
U.S.
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
India
·
Latin America
o
Brazil
·
MEA
o
Saudi Arabia
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-technical-ceramics-market
www.grandviewresearch.com/press-release/global-technical-ceramics-market
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.
For more information: www.grandviewresearch.com/
