The global advanced ceramics market size is projected to reach USD 1, 80,463.4 million by 2028. Fortune Business Insights™ presented this information in a new report, titled, “Advanced Ceramics Market, 2021-2028.” The report further mentions that the market stood at USD 82,972.9 million in 2020. It will exhibit a CAGR of 10.2% during the forecast period between 2021-2028.
The ongoing technological advancements and rising demand for modern consumer electronic appliances are expected to propel the need for electroceramics. Advanced ceramics is extensively used in such products because of their possession of multiple beneficial properties, such as compressive strength.
Source-https://www.fortunebusinessinsights.com/advanced-ceramics-market-105073
Competitive Landscape-
Advanced Ceramics Manufacturing Aim to Participate in Acquisition Strategy to Compete with Their Rivals
The market houses several prominent manufacturers that are focusing on various organic and inorganic strategies to compete with their rivals. Among them, acquisition is the most significant strategy. International Syalons, for instance, is a leading producer of silicon nitride and sialon-based ceramics. It often participates in mergers and acquisitions to broaden its footprints and generate more sales.
Report Coverage-
The research report of the technical ceramics manufacturing industry offers a comprehensive analysis of existing companies that can affect the market outlook throughout the forthcoming years. In addition to that, it provides an accurate assessment by highlighting data on multiple aspects that may contain growth drivers, opportunities, trends, and hindrances. It also represents the overall market size from a global perspective by analyzing historical data and qualitative insights.
Market Segmentation:
The study offers detailed segmentation of the global Advanced Ceramics market based on Type, End User, and region. The report provides in-depth discussions of these segments and their sub-divisions, supported by tables and figures. Market players and investors can strategize their approaches based on the high-revenue and rapidly growing segments highlighted in the report.
Drivers & Restraints-
Rising Usage in Making Implant Abutments and Artificial Bones to Propel Growth
Advanced ceramics are gaining more importance in the medical industry. The product has excellent aesthetic, physical, and biological properties. Therefore, it is extensively utilized for making endosseous implants, artificial bones, and implant abutments. The industry is also anticipated to use zirconia ceramics. These factors are set to accelerate the advanced ceramics market growth in the forthcoming years. However, the production process of this ceramic involves high cost spending as it includes inspection, diamond grinding, sintering, forming, and raw material processing. It may hinder growth.
Segments-
Transportation Segment Generated 21.2% Share in China in 2020: Fortune Business Insights™
Based on the material, the market is divided into alumina, zirconia, titanate, silicon carbide, silicon nitride, and others. Below is a brief note on the end-use criterion:
By End-use: The market is categorized into electrical & electronics, transportation, medical, chemical, and others. Out of these, the transportation segment held 2% in terms of the China advanced ceramics market share in 2020. This growth is attributable to the rising usage of the product in aerospace engines and electric water pumps. On the other hand, the medical segment earned 18.0% in 2020 on account of the high demand for biodegradable splints and other similar products.
Key Inquiries Addressed in the Advanced Ceramics Market:
What is the global market size for the Advanced Ceramics market?
Which screen size is most preferred by Advanced Ceramics consumers?
What distribution channel is preferred by Advanced Ceramics manufacturers?
Which age group is the target for Advanced Ceramics manufacturers?
What factors drive or hinder market growth, and how do these factors impact the market?
How do regulations affect the growth of the Advanced Ceramics market?
Which region or country leads in market growth?
How will emerging Advanced Ceramics markets perform in the coming years, and how will consumption patterns evolve?
Who are the major players in the global Advanced Ceramics market? What is their current market position? Who are the emerging players in this industry?