July 22, 2024
Advanced Ceramics Market

Growing Demand From Electronics Industry To Catalyze Growth In The Advanced Ceramics Market

Market Overview:
Advanced ceramics are synthetic, non-metallic materials composed of inorganic compounds that are formed through the application of heat and other manufacturing techniques. They exhibit superior properties such as high strength, corrosion resistance, wear resistance, stability at high temperatures, low thermal expansion, etc. compared to conventional engineering materials. Advanced ceramics are used across industries such as electronics and electrical, transportation, medical, defense and security, and industrial applications owing to their strength and durability. They find applications in semiconductor manufacturing equipment, electronics substrates, optics lenses, sensors, armours, and engine components among others.

Market key trends:
One of the key trends in the advanced ceramics market is its growing adoption in the electronics industry. Advanced ceramics like alumina, zirconia and ferrites find applications in the manufacturing of printed circuit boards, semiconductor packages and other electronic components due to their high strength, thermal resistance and electrical insulation. With the increasing demand for miniaturization and performance enhancements across consumer electronics and automotive electronics, the use of advanced ceramics is growing rapidly. Another major trend is the increasing R&D to develop advanced ceramics with nanoscale engineering which exhibit superior properties compared to conventional ceramics. Nations like the U.S., Germany, Japan and China are heavily investing in nanoceramics research.

The global Advanced Ceramics Market Growth is estimated to be valued at US$ 91617.4 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Porter’s Analysis

Threat of new entrants: The advanced ceramics market requires high capital investment for R&D and manufacturing facilities. The presence of several established players also increases the entry barriers for new players.

Bargaining power of buyers: The bargaining power of buyers is high due to the presence of several manufacturers providing similar products. However, the diversified application areas of advanced ceramics provide less bargaining power to buyers.

Bargaining power of suppliers: The presence of numerous raw material suppliers gives buyers bargaining power to negotiate prices. However, suppliers of specialized raw materials may have more bargaining power.

Threat of new substitutes: Alternatives like plastics, metals, and composites pose threat of substitution. However, advanced ceramics have superior properties that reduce the threat of substitution.

Competitive rivalry: The competition in the market is high due to many international players focusing on expanding their regional footprint through mergers and acquisitions.

Key Takeaways

The global advanced ceramics market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing usage in electronics & power, transportation, medical, and other application industries.

Regional analysis

North America dominates the advanced ceramics market, followed by Europe. However, Asia Pacific is expected to witness the highest growth due to increasing electronics production and demand for medical devices in the region. Countries like China, Japan, and India are major markets for advanced ceramics.

Key players

Key players operating in the advanced ceramics market include 3M (Ceradyne Inc.), AGC Inc., Applied Ceramics, Blasch Precision Ceramics Inc., Ceramtec, COI Ceramics Inc., Coorstek Inc., Corning Incorporated, International Ceramics Inc., Kyocera Corporation, MARUWA Co. Ltd, Materion Corporation, McDanel Advanced Ceramic Technologies, Morgan Advanced Materials, Murata Manufacturing Co. Ltd, Rauschert GmbH, Saint-Gobain, Small Precision Tools Inc., Vesuvius, and Wonik QnC Corporation.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it