Technical Ceramics Market Growth | Overview, Size, Share, Trends, Outlook, and Report 2021-2027
Market Overview:
Technical ceramics are used in a wide range of end-use industry
application owing to their excellent properties such as chemical & heat
resistance and mechanical stresses among others. It is extensively used in
applications such as medical devices, transport equipments, sports equipments,
armour material, circuit carriers and others. The rising growth pharmaceutical
and automotive industry across the globe is substantially affecting the growth
of the technical ceramics market.
The global technical ceramics market is being driven by a range
of application in various end-use industries such as automotive, energy &
power, pharmaceuticals, military & defense and other. Moreover, it is
estimated that the electrical and electronics industry is set to witness the highest
growth due to the growing consumption in applications such as core materials,
circuit carriers, and ceramic substrates in the forecast period, 2017-2023.
Market Segmentation:
The global Technical Ceramics
Market Growth is segmented into product type, material, and
end-user. On the basis of the product type, the market is segregated into
monolithic ceramics, ceramic matrix composites, ceramic coatings and others.
The market by material is segmented into oxide and non-oxide. The market by end
user industry is further categorized into electronics & semiconductor,
automotive, energy & power, pharmaceuticals, military & defense and others.
Market Scenario:
The electrical and electronic segment followed by the automotive
end-user segment are anticipated to observe a higher CAGR during the forecast
period. The properties such as corrosion resistance, heat resistance makes the
use of technical ceramics in applications such as sensors in cars, circuit
carries and other electronics components.
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Regional Analysis:
The global technical ceramics market Overview is spanned across
five key regions: Asia Pacific, North America, Europe, Latin America, and the
Middle East & Africa. Among these, Asia Pacific holds a major share of the
market and is expected to be the fastest growing region at a considerably
higher CAGR. The presence of the most populated countries of the world such as
India and China has augmented the demand for various sectors such as the electronics
and automotive among others, which, in turn, is anticipated to fuel the demand
for technical ceramics in the region. Moreover, the growing demand for energy
has augmented the power sector industry, mainly in India and China which in
turn is expected to positively affect the growth of the market.
The European region is estimated to witness a significant growth
in the countries owing to the burgeoning pharmaceutical and automobile
industry. The increasing use of technical ceramics owing to its enhanced
strength, chemical and heat stability among others has increased the adoption
rate in the region. Moreover, the growing application in the environmental
engineering coupled with the increase government participation in the
conservation of environment is further burgeoning the usage of the product in
this region.
The North American technical ceramics market is mainly
driven by the U.S. and Canada. The presence of the developed end-user
industries such as automotive and electronics coupled with the increasing
adoption rate is contributing significantly to the growth of the market.
Moreover, the growing investment in energy and defense sector is further
expected to add fuel to the growth of the market.
Competitive Analysis:
Some of the prominent players operating in the global technical
ceramics market growth CeramTec GmbH (Germany), Kyocera Corporation (Japan),
Morgan Advanced Materials (U.K), Saint-Gobain Ceramic Materials (U.S.), McDanel
Advanced Ceramic Technologies (U.S.), 3M Company (U.S.), Rauschert Steinbach
GmbH (Germany), Dyson Technical Ceramics Limited (U.K), Superior Technical
Ceramics (U.S.), and NGK Spark Plug Co., Ltd. (Japan) among others.
.
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