Alumina to Hold Over 50% Revenue Share in Global Advanced Ceramics Market: Fact.MR Study
Published : 26 Nov 2021 Industry: Chemical & Materials
As per industry analysis on advanced ceramics by Fact.MR, a market research and competitive intelligence provider, the global market is anticipated to expand at a robust CAGR of 7% over the forecast period of 2021-2031, reaching US$ 120 Bn at the end of the decade.
Advanced ceramics differ from ceramics, wherein, the materials and processes used in the manufacturing of these ceramics have special properties. These special properties provide advanced ceramics with advanced strength in the form of resistance to heat, corrosion, and wear. Advanced ceramics are designed to overcome the limitations of traditional ceramics while retaining the original properties of ceramic material.
Advanced ceramics continue to spark a notable interest in high-performance engineering applications, with a foreseen phenomenal growth potential in defense and aerospace. As technologies such as Artificial Intelligence, Internet of Things, robots, and automation become more tangible, emergence of smart factories is another demand determinant for advanced ceramics.
Key Takeaways from Market Study
- Global advanced ceramics market to top US$ 120 Bn by 2031.
- Alumina ceramics value projected to reach around US$ 60 Bn by 2031.
- Ceramic matrix composites projected to record above 5% CAGR over next 10 years.
- Ceramic coatings expected to reach valuation of US$ 25 Bn by 2031.
- Market in APEJ holds share of more than 40%.
- Market in Germany to record 4% CAGR over forecast period of 2021- 2031.
“Advanced ceramics consumption in industrial and metallurgical applications can be attributed to remarkable advances in alloy and metal manufacturing, which have paved the way for modern-day revolution in material technologies and are expected to fuel market growth,” says a Fact.MR analyst.
As the shift towards a low-carbon environment gains widespread momentum, market players are eyeing a significant slice of the piezoelectric ceramics space.
Producing robust transparent ceramic items while retaining translucency is gaining momentous among key manufacturers of advanced ceramics, abreast efforts to address structural heterogeneities.
- In March 2021, Ceramtec incorporated its innovative piezoceramics production with an ultrasonic sensor and transducer assembly. With this integration, the company is now able to provide end-to-end services for specific high-power langevin transducers, as well as a full-service solution that includes transducer design, development, and manufacturing for a variety of medical applications.
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the advanced ceramics market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study divulges essential insights on the market on the basis material (alumina ceramics, ceramic-based components, titanate ceramics, zirconia ceramics, silicon carbide ceramics, ceramic filters, and others), class (ceramic matrix composites, ceramic coatings, and monolithic ceramics), application (electrical equipment, catalyst support, electronic devices, wear parts, engine parts, filters, and bioceramics), and end user (electrical & electronics sector, transportation sector, medical sector, defense & security sector, environmental sector, and chemical sector), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
About the Chemicals and Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the chemicals and materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant – Chemicals and Materials