Advanced ceramics are non-metallic and inorganic solid materials which possess a number of different properties. These include a combination of properties such as, corrosion resistance, low thermal expansion, high-temperature stability, and are relatively lightweight as compared to their conventional counterparts.
Growing demand for advanced ceramics market from various end use industries, especially from the electronics & electrical industries and from the medical industry in developing economies is a major factor boosting growth of the global market. Additionally, increasing adoption of advanced ceramics in the transportation industry is also expected to fuel growth of the global market over the forecast period. But, high costs associated coupled with stringent environmental regulations limiting use of certain advanced ceramics are major factors projected to hamper growth of the global market over the forecast period.
The global advanced ceramics market report has been segmented on the basis of material, end use industry, and region. On the basis of region, the global advanced ceramics market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America accounted for highest share in terms of revenue in the global market, and is expected to maintain its dominance over the forecast period. This can be attributed to increasing adoption of advanced ceramics in various end use industries in countries in the region. The market in Asia Pacific accounted for second-highest revenue share contribution in the global market as compared to other regions. It is further projected to witness significant growth over the forecast period, registering a CAGR of X.X% between 2017 and 2026, owing to growing demand from electrical & electronics industry coupled with rapid industrialization in emerging economies such as China and India in the region. The markets in Middle East & Africa and Europe are also expected to witness moderate growth over the forecast period.
Prominent players in the global advanced ceramics market include Kyocera Corporation, CeramTec GmbH, CoorsTek, Inc., Saint-Gobain Ceramic & Plastics, Inc., and Morgan Advanced Materials Plc, Murata Manufacturing Co. Ltd., Corning Inc., and Ceradyne Inc.