Growing need for improved insulation and wear-resistance properties drives global demand for technical ceramics
SANTA CLARA, California, July 13, 2020 /PRNewswire/ -- Frost & Sullivan's recent analysis, Growth Opportunities for Technical Ceramics, projects the growing demand for a wide variety of goods made of technical ceramics due to rising environmental concerns and stringent regulations by governments, especially in the European region, which further propel innovation and research and development (R&D) efforts in the market.
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"Technical ceramics, especially oxides and silicates, have gained immense popularity in the last few years due to their durability and high tensile strength. The superior properties of technical ceramics significantly reduce time-to-market and the cycle time of components made from them, allowing manufacturers to launch multifunctional technical ceramic products," said Sanchari Chatterjee, Industry Analyst, TechVision at Frost & Sullivan. "Globally, technical ceramics will be able to create a new demand for a wide variety of goods made using the material, including household basics to high-end decorative glass and tiles, to medical and dental devices. The North American and European markets are extremely attractive for technical ceramics and will witness growth."
Chatterjee added: "The manufacture of technical ceramics may be slightly impacted by the COVID-19 pandemic due to delayed operations in manufacturers. However, adoption from end industries is expected to remain unchanged due to the exceptional potential of technical ceramics with regards to their multiple functions, compared to traditional polymers, ceramics or metals."
To capitalize on the expected growth in demand, market participants should:
- Leverage the enhancing capabilities of technical ceramics such as anti-corrosion, light-weighting, and improved mechanical features for significant industrial adoption.
- Explore the development of nanoceramics to open up new avenues for material adoption and increase application scope.
- Identify companies for partnership and mergers & acquisitions to improve geographic reach and help create techno-commercial synergies that are critical for long-term sustainability by catering to a broad customer group.
- Increase R&D efforts to respond to highly agile market demands across sectors.
Growth Opportunities for Technical Ceramics is part of Frost & Sullivan's global TechVision Growth Partnership Service program.
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Growth Opportunities for Technical Ceramics
SOURCE Frost & Sullivan