(MENAFN- GlobeNewsWire - Nasdaq) New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Porous Ceramics Global Market Report 2023" -
, Toto Ltd., NGK Spark Plug Co. Ltd., Refractron Technologies Corp., NGK Spark Plug Co., Ltd., Lam Research Corporation, Lianyungang Henka Ceramics Technology Co. Ltd., Kyocera Corporation, and ThomasNet.
The global porous ceramics market grew from $7.21 billion in 2022 to $8.33 billion in 2023 at a compound annual growth rate (CAGR) of 15.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The porous ceramics market is expected to grow to $13.55 billion in 2027 at a CAGR of 13.0%.
The porous ceramics market consists of sales of cordierite and silica.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The porous ceramics are used to make pottery, bricks, tiles, cement, and glass. Porous ceramics refer to a class of highly reticulated ceramic materials that covers a wide range of structures, such as foams, interconnected rods, honeycombs, fibers, or hollow spheres.
Asia-Pacific was the largest region in the porous ceramics market in 2022.Asia-Pacific is expected to be the fastest-growing region in the market.
The regions covered in the porous ceramics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in porous ceramics are oxide ceramics, and non-oxide ceramics.The minerals used to make the ceramic materials are referred to as oxide ceramics.
They are smashed or ground into a fine powder that is filtered by adding it to a solution and allowing a chemical precipitate to form. The different raw materials include alumina ceramics, titanate ceramics, zirconate ceramics, ferrite ceramics, aluminum nitride, and others and are used in filtration, insulation, high purity materials, structural components, and other applications.
The increasing demand for medical equipment will propel the growth of the porous ceramic equipment market.Medical equipment refers to the devices used for different medical purposes.
Porous ceramics are used in medical devices for total hip replacement, dental implants and restorations, bone fillers, and scaffolds for tissue engineering.As a result, increasing demand for medical equipment increases the demand for porous ceramics.
For instance, according to the India Brand Equity Foundation (IBEF), an India based government agency, the medical devices industry is expected to reach $50 billion at a CAGR of 37% by 2025, up from $10.36 billion in 2020. Therefore, the increasing demand for medical equipment in the healthcare sector is driving the growth of the porous ceramic market.
Strategic partnerships have emerged as a key trend gaining popularity in the porous ceramics market.Major companies operating in the porous ceramics sector are looking for partnerships to strengthen their position in the market.
For instance, in August 2021, Fortify, a US-based 3D printing startup, partnered with Tethon 3D, a US-based company that provides porous ceramic 3D printed materials. The partnership allows both companies to serve a variety of additive manufacturing applications as well as classified projects with government agencies.
In January 2022, Mott Corporation, a US-based precision filtration company, acquired Asco Filtri S.p.A. for an undisclosed amount. The acquisition of Asco provides Mott Corporation with an expanded presence throughout South America, North America, the Middle East, Europe, Africa and Asia for global project management and delivery of mission-critical filtration products. Asco Filtri S.p.A. is an Italy-based filtration company.
The countries covered in the porous ceramics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The porous ceramics market research report is one of a series of new reports that provides porous ceramics market statistics, including global market size, regional shares, competitors with a porous ceramics market share, detailed porous ceramics market segments, market trends and opportunities, and any further data you may need to thrive in the porous ceramics industry. This porous ceramics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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