- Expansion of automobile, electronics, and medical sectors in various regions will have a profound impact on the growth of the technical ceramics market
- The characteristics & physical properties of these ceramics such as excellent compression, nonlinear resistance will further have a major role in the technical ceramics market growth
ALBANY, N.Y., Aug. 9, 2021 /PRNewswire/ -- The technical ceramics market is expected to record stable growth during the forecast period of 2019-2027. The utilization of technical ceramics in areas that require toughness and high-strength will offer massive growth opportunities for the global technical ceramics market during the forecast period. The growing use of technical ceramics across numerous applications such as electrical insulators, piezoelectric ceramics, medical implants, implantable electronic devices, automotive, consumer goods, dental ceramics, temperature co-fired ceramics, tissue engineering scaffolds, and others will bring substantial growth.
Technical ceramics, also known as engineering ceramics have improved thermal and mechanical properties. These ceramics are prominently made for technical applications. Alumina materials are the cheapest and commonly used technical ceramics. The advantages associated with technical ceramics make them a preferred material across many applications. The properties of technical ceramics such as good temperature stability, nonlinear resistance, low thermal expansion, extensive stiffness, and excellent compression strength significant for maintaining the overall growth structure.
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Transparency Market Research (TMR) has analyzed aspects related to the growth of the technical ceramics market. As per the study conducted by TMR experts, the global market for technical ceramics is estimated to expand at a CAGR of 6.68% during the forecast period of 2019-2027. The market for technical ceramics was valued at US$ 84.33 Bn in 2018 and is anticipated to reach US$ 149.85 Bn by 2027.
The functional properties of technical ceramics offers lucrative opportunities for the technical ceramics market. High industrialization levels, especially in Asian countries such as India have led to an increase in the utilization of technical ceramics to a considerable extent. These factors assist in accelerating the growth of the technical ceramics market. Furthermore, substantial investments in R&D activities coupled with considerable demand for superior quality products is anticipated to drive the technical ceramics market.
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Key Findings of Report
Rising Disposable Income, Rapid Urbanization to Drive Technical Ceramics Market
Urbanization has witnessed an uptick over the years. Rural-to-urban migration has increased considerably due to good work opportunities and other factors. The disposable income of many individuals has also heightened exponentially. The purchasing power of individuals has increased, which is leading to the adoption of a good lifestyle. Hence, based on this factor, electrical and electronics are observing good sales figures. As technical ceramics are used in electronics, the demand is estimated to rise, eventually fueling the growth rate of the technical ceramics market.
China to Offer Lucrative Opportunities to Technical Ceramics Market Players
China is one of the most thriving regions around the globe in terms of industrialization. The supportive government policies in context of setting up industries and the availability of cheap labor have strengthened industrialization prospects. Thus, the growing number of automotive and electronic industries in the region is projected to attract extensive growth for the technical ceramics market. In addition, the presence of numerous aerospace and automobile companies in China will assure a profitable growth trajectory for the technical ceramics market during the forecast period.
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Some well-established players in the technical ceramics market are McDanel Advanced Ceramic Technologies, Morgan Advanced Materials, Dyson Technical Ceramics, Kyocera Corporation, NGK Spark Plug Co., Ltd., CoorsTek Inc., and Superior Technical Ceramics.
Global Technical Ceramics Market, by Material
- Oxide Ceramics
- Alumina Ceramics
- Titanium Ceramics
- Zirconia Ceramics
- Others (including Magnesium Oxide and Sintered Fused Silica)
- Non-oxide Ceramics
- Alumina Nitride
- Silicon Nitride
- Silicon Carbide
- Others (including Boron Carbide and Silicon Aluminum Oxynitride)
Global Technical ceramics Market, by Product
- Monolithic Ceramics
- Ceramic Matrix Composites
- Ceramic Coatings
- Others (including Advanced Coatings and Multilayer Ceramics)
Global Technical ceramics Market, by Application
- Electrical & Electronics
- Electrical Insulators
- Passive Components
- Piezoelectric Ceramics
- Others (including Medical Pumps and Tissue Engineering Scaffolds)
- Medical Implants
- Dental Ceramics
- Implantable Electronic Devices
- Others (including Ceramic Electronic Substrates and Temperature Co-fired Ceramics)
- Energy & Power
- Others (including Chemical Products and Consumer Goods)
Global Structural Adhesives Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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