BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global advanced ceramics market size at USD 10.57 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global advanced ceramics market size to grow at a CAGR of 6.3% reaching a value of USD 16.2 billion by 2029. The growing need for sustainable alternatives to traditional materials and the expanding usage of advanced ceramics in a range of industries, including telecom and medical, are key growth drivers for the global advanced ceramics market.
Global Advanced Ceramics Market – Overview
Advanced ceramics are made from highly refined and pure powders, many of which are made synthetically by chemical processes or at high temperatures. Advanced ceramics feature excellent mechanical qualities including high density, high hardness, and exceptional wear resistance. A common example of an advanced ceramic is zirconia, which is found in zirconium oxide (ZrO2). The major difference between traditional ceramics and advanced ceramics is that clay is the foundation of the former, but a far larger range of inorganic, non-metal materials are being used to create high-performance or advanced ceramics.
Global Advanced Ceramics Market
Global Advanced Ceramics Market – By Class Type
Based on class type, the global advanced ceramics market is segmented into monolithic ceramics, ceramic matrix composites, ceramic coatings, and others. The monolithic ceramics segment holds the highest share in the global advanced ceramics market, due to its reliability, durability, and resistance to high temperatures. Therefore, it is gaining significant traction in the production of electronics, automotive, as well as dental restorations. The Ceramic Matrix Composites (CMC) are anticipated to register the highest growth rate over the forecast period, owing to their lightweight and high strength.
Impact of COVID-19 on the Global Advanced Ceramics Market
The unprecedented COVID-19 pandemic halted the growth of the global advanced ceramics market. The global demand for advanced ceramics was immediately influenced by the disruption in operations of the key end-user sectors, including electronics and automotive. Additionally, the implementation of the lockdown led to the shutdown of industrial facilities and supply chain disruptions for the manufacture of advanced ceramics. The industry participants thus had to deal with considerable losses. However, with the increasing need for electronics and medical devices, the market demand for advanced ceramics is anticipated to soar in the post-COVID-19 period.
Major players operating in the global advanced ceramics market include Kyocera Corporation, CeramTec GmbH, CoorsTek Inc., Saint-Gobain Ceramic Materials, Morgan Advanced Materials Plc, McDanel Advanced Ceramic Technologies, Ceradyne, Inc., Rauschert Steinbach GmbH, Murata Manufacturing Co., Ltd, Mantec Technical Ceramics Ltd, ENrG Inc., and APC International Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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