Advanced Ceramics Market Size Expected to Reach USD 173.42 Billion at a CAGR of 8.5% by 2028 Says Reports and Data

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Reports And Data

Rising demand from electrical and electronics, medical, and automotive industries and government regulations are the major factors influencing market growth.

NEW YORK CITY, NY, UNITED STATES, March 28, 2022 /EINPresswire.com / -- The global Advanced Ceramics Market is estimated to reach USD 173.42 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated with the increasing use of advanced ceramics in several end-user industries such as electronic and electrical, medical, and machinery industries. The market for advanced ceramics are adopted at a rapid rate as an alternative to plastics and metals, due to the increasing awareness regarding the eco-friendly advantages such as durability, biodegradability, and extensive tensile strength. The growth in various end-use products' demand & industrial development are vital factors promoting the need for advanced ceramics, which is, propelling the overall growth of the market globally.

The rapid use of coated machinery components has shifted the inclination of the consumers to advanced coatings, and the technological improvements in deposition processes are anticipated to bring new market opportunities.

APAC accounts for the largest market share of 33.70% in 2020 and is anticipated to grow at a CAGR of 8.5% over the forecast period owing to accelerated industrialization in these regions. The growth of the main end-use industries such as the infrastructure/construction sectors mainly in Asian countries such as India and China are expected to encourage the advanced ceramics market. Moreover, higher adoption and improved technological innovations for the use of advanced ceramics in nanotechnologies, in wind turbines and other pollution control purposes is anticipated to increase the market for advanced ceramics in the region.

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Major companies profiled in the global market report include - Saint-Gobain Ceramic Materials , Asahi Glass Co., Corning Inc., Advanced Ceramic Manufacturing, LLC., Kyocera Corporation., Coorstek Inc., Ceramtec GmbH, Morgan Advanced Materials PLC, Morimura Group, Rauschert Steinbach GmbH

Further key findings from the report suggest

Advanced ceramics are primarily used in the manufacturing of electronic and electrical equipment owing to their substantial electrical conductivity and high acid resistance. Increasing demand for consumer electronics, particularly in APAC countries such as China and India, is presumed to impact positively on industry growth over the forecast period.
Titanite market of the material segment is valued at USD 21.32 billion in 2020 and is estimated to reach USD 42.81 billion by 2028, at a CAGR of 8.64%. Titanite or aluminum titanite possesses the most active thermal shock resistance in the material segment. Product made of this material tends to endure under high temperatures of various hundred degrees.
The bioceramics market of the application segment is valued at USD 13.10 billion in 2020 and is estimated to reach USD 26.30 billion by 2028 at a CAGR of 8.64% during the forecast period. They are inert materials and possess exceptional strength and wear resistance. Therefore, they are widely utilized in surgical implants like dental and bone. Commonly used materials in this section include aluminum oxide and zirconia oxide. These are mainly used in the manufacturing of dental and orthopedic implants.

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The environmental market of the End-use segment is projected to grow at the highest CAGR of 8.7% during the forecast period. Advanced ceramics have high resistance capability even at temperatures over 1000°C. Therefore, they are suitable for use in solar energy conversion, photovoltaics, and other power plant engine systems. Furthermore, they have excellent resistance to acid thermal shocks, attacks, and wear. Therefore, they are widely used in environmental technologies like water treatment and processing.
North America is valued at USD 18.34 billion in 2020 and is estimated to reach USD 37.41 billion by 2028. It is expected to grow at a CAGR of 8.8% during the forecast period due to increasing healthcare awareness and expanding electronics industry in the region. Although the electronics sector in North America is relatively developed, product adoption for several electronic applications is set to grow owing to increasing penetration of smart offices and smart homes in the region.
The market players are primarily focused on developing new technologies to meet the requirements of users. Various companies are also involved in numerous merger & acquisitions as their essential strategy is to maintain sufficient market share. These factors are expected to have a positive impact on industry growth over the next few years.

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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented global Advanced Ceramics Market on the basis of Type, Material, End Users, Application and region:
Type Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2020-2028)
Monolithic ceramics
Ceramic coatings
Ceramic matrix composites

Application Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2020-2028)
Electrical equipment
Electronic devices
Wear parts
Bioceramics
Others

Material Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2020-2028)
Alumina
Titanate
Zirconate
Aluminum nitride
Silicon carbide
Others

End User Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2020-2028)
Electrical & electronics
Automotive
Environmental
Medical
Others

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Regional Outlook (Revenue, USD Billion; 2018-2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Reports and Data
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