ALBANY, New York, May 2, 2019 /PRNewswire/ -- The global technical ceramics market was valued at US$ 84.33 Bn in 2018 and is anticipated to expand at a CAGR of 6.68% from 2019 to 2027, according to a new research report titled 'Technical Ceramics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,' published by Transparency Market Research (TMR) The global technical ceramics market is driven by the rise in demand for technical ceramics in medical and electronics sectors across the globe. In terms of demand, Asia Pacific accounts for dominant share of the global technical ceramics market.
Request a Sample of Global Technical Ceramics Market:
Rise in Demand for Technical Ceramics in Electrical & Electronics Industry Boosting Market
Consumer electronics is a leading and rapidly expanding industry. The global electrical & electronics equipment industry was valued at more than US$ 2.8 Trn in 2017. Demand for electrical & electronics equipment is expected to increase at a significant pace due to the rise in need for smartphones, laptops, tablets, and portable electrical appliances. The usage of technical ceramics has been increasing in the electronics industry due to their excellent electrical insulation properties that allow them to be used in microchips, circuit boards and circuit breaker technology, ceramic substrates, circuit carriers, and core materials. Demand for technical ceramics in the consumer electronics industry is expected to rise steadily during the forecast period. China has become the hub of electronics production in Asia Pacific since the last few years. The electronics industry is strongly dependent on macroeconomic developments and government activities. The Government of China plans to invest US$ 150.0 Bn in the electronics industry over the next few years to strengthen its position in the market. Thus, strong government initiatives and need for high-quality electronic devices have boosted the demand for technical ceramics that are used in consumer electronics.
Japan is estimated to record positive growth in sales of consumer electronics due to the high demand for products such as capacitors and resistors. The recent 'Make in India' government campaign has encouraged companies in India to lower imports and develop quality products. This is projected to fuel the demand for technical ceramics in the country. Furthermore, emphasis on digitization and strong foreign direct investments (FDI) are likely to propel the electronic sectors as well as the technical ceramics market in India.
Request for Multiple Chapters:
High Cost of Machining of Technical Ceramics Hampering Market
Technical ceramics require machining to obtain a specific shape and size of a component before its usage in end-use industries. This entails high capital cost, which is hampering the technical ceramics market. Technical ceramics are generally used in major applications including chemical, mechanical, and consumer products. Currently, diamond wheel grinding is the only method available for machining technical ceramics. However, this production process is not suitable for small scale plants, as it requires high capital cost and highly qualified workforce. Therefore, technological development needs to take place in machining methods in order to minimize the cost of machining technical ceramics. Another factor that influences the cost of technical ceramics is the unavailability of any data on the machinability of technical ceramics. Machining costs of technical ceramics should decline with the increase in volume. Innovation allows costs to decrease further. Thus, high machining cost is hampering the global technical ceramics market.
Request for Discount on This Report:
Oxide Ceramics Segment to Dominate Global Technical Ceramics Market
In terms of material, the technical ceramics market has been bifurcated into oxide ceramics and non-oxide ceramics. The oxide ceramics segment comprises alumina ceramics, titanium ceramics, zirconium ceramics, and others (including magnesium oxide and sintered fused silica), while the non-oxide ceramics segment consists of alumina nitride, silica nitride, silica carbide, and others (including boron carbide and silicon aluminum oxynitride). Among oxide ceramics, zirconium oxide was a rapidly growing sub-segment of the technical ceramics market in 2018, as zirconium oxide provides oxygen ion conductivity, high fracture toughness, and good tribological properties.
Ceramic Matrix Composites Segment is Rapidly Growing Segment of Global Technical Ceramics Market
Based on product, the global technical ceramics market has been divided into monolithic ceramics, ceramic matrix composites, ceramic coatings, and others (including multilayer ceramics and advanced coatings). The ceramic matrix composites segment expanded at a rapid pace in 2018. The segment is likely to remain highly lucrative during the forecast period, due to the rise in demand in the automotive industry, as ceramic matrix composites overcome the major demerits of monolithic ceramics such as brittle failure, low fracture toughness, and thermal shock resistance.
Browse Press Release:
High Degree of Competition among Players
The degree of competition among players operating in the technical ceramics market in China is high, due to the presence of a large numbers of companies producing technical ceramics in the country. Key players operating in the global technical ceramics market are 3M, Morgan Advanced Materials, CeramTec, Kyocera Corporation, Saint-Gobain Ceramic Materials, NGK Spark Plug Co., Ltd., Imerys Ceramics, Superior Technical Ceramics, Rauschert GmbH, McDanel Advanced Ceramic Technologies, Dyson Technical Ceramics, and CoorsTek Inc.
The global technical ceramics market is segmented based on:
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 Technical ceramics 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
Browse Chemicals and Materials Market Research Reports
Popular Research Reports by TMR:
- Ceramic Foam Market: https://www.transparencymarketresearch.com/ceramic-foam-market.html
- Silicon Nitride Balls Market: https://www.transparencymarketresearch.com/silicon-nitride-balls-market.html
- Coating Resins Market: https://www.transparencymarketresearch.com/asia-pacific-coating-resins-market.html
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Mr. Rohit Bhisey
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
Research Blog: http://www.europlat.org/
SOURCE Transparency Market Research