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(IT-NEWSWIRE.COM, September 06, 2019 ) Market Overview • Advanced Ceramics, also known as Technical Ceramics or Engineered Ceramics, are specialized ceramics that stand out due to high resistance to corrosion, erosion and wear, electrical and thermal insulation at high temperatures and high heat resistance. • Many industries including chemical, industrial, medical, electronic, electrical engineering, electric heating and sanitary rely on advanced ceramics to solve their difficult problems. Market Dynamics • The increasing use of advanced ceramics in various end-user industries such as medical, electronic and electrical and machinery industries is the major driver of the advanced ceramics market. • The advanced ceramics are being adopted at a higher rate as an alternative to metals and plastics, due to the growing awareness regarding their eco-friendly benefits such as biodegradability, durability, and high tensile strength. • The extensive use of coated machinery components has been shifting the preference of the consumers to advanced coatings, and the technological advancements in the deposition processes are expected to open new market opportunities. Market Segmentation • The global advanced ceramics market is segmented by material, class, and application. • By material, the global advanced ceramics market is segmented into titanite, alumina, zirconia, silicon carbide, and others. Alumina ceramics are commonly used advanced ceramic material due to its excellent physical properties. • Alumina ceramics are employed in many end-use industries such as transportation, chemical, electrical & electronics, and medical. • By class, the global advanced ceramics market is segmented into monolithic ceramics, ceramic coatings, ceramic matrix composites, and others. Monolithic ceramics occupy the major share of the market, owing to the increasing use as an alternative to metals and plastics and increasing demand from the medical industry. • However, factors such as high cost and recyclability issue may hinder the growth of the monolithic class advanced ceramics. • By application, the global advanced ceramics market is segmented into electrical equipment, catalyst supports, electronic devices, wear parts, engine parts, filters, and others. Geographical Analysis • The global advanced ceramics market is segmented into the regions as North America, Europe, Asia Pacific, South America, and others. North America is the largest market owing to the high adoption in various end-user industries. • The Asia Pacific is the fastest growing region owing to the rapid industrialization in these regions. The growth of the major end-use industries such as construction/ infrastructure mainly in Asian countries such as China and India are expected to drive the advanced ceramics market. Further, the increased technological innovations for the use of advanced ceramics in the nanotechnologies and the higher adoption in wind turbines and other pollution control applications is expected to increase the demand for advanced ceramics in the Asia Pacific region. Competitive Trends • The global advanced ceramics market is highly competitive with the presence of major market players in all the regions. • The key market players are highly focused on developing new technologies for unique applications. • For instance, in February 2018, CeramTec has acquired UK electro-ceramics business from Morgan Advanced Materials, which is expected to bring new technological developments and help in manufacturing even broader spectrum of products and applications. Company profiles • Advanced Ceramic Manufacturing, LLC. • Asahi Glass Co. • Corning Inc. • Others Key Takeaways in this report • Alumina-based advanced ceramics are the leading segment owing to its higher adoption rate in many end-user industries. • North America is the leading geographic segment, owing to the major share. • In terms of growth rate, the market will expand rapidly in APAC owing to the rapid industrialization and increased adoption in the construction industry.
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Source: EmailWire.Com
Source: EmailWire.com
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