The global advanced ceramics market size is expected to reach USD 146.46 billion by 2030, according to a new study by Polaris Market Research. The report “Advanced Ceramics Market Share, Size, Trends, Industry Analysis Report, By Material (Alumina, Titanate, Zirconia, Silicon Carbide, Others); By End-Use; By Application; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The industry will be propelled forward by increased demand for ceramic in the field of electroceramics. They are a type of advanced ceramics that are employed in a wide range of applications, from simple insulation material to complicated ferroelectrics. The product has strong temperature and pressure resistance, as well as compressive strength and wear resistance.
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Furthermore, the rising need for modern consumer electronic products, as well as continued advances in electronics technology, are projected to drive up demand for the industry. Thus, numerous manufacturers are focusing towards electroceramic-based goods. For instance, in September 2021, The microArch S230 is a new Projected Micro Stereolithography 3D printing technology by Boston Micro Fabrication.
At incredible velocities and accuracies, the technology produces 'ultra-high-resolution' of roughly 2m. It was released alongside three other materials that have uses in the medical and electronic industries. As a result, these factors will increase demand for electroceramic and propel the industry forward.
The requirement for lightweight armors and engine components is growing, and the composite material's decreased weight is a key factor. Advanced ceramic is being used by aircraft makers as a replacement for traditional alloys and metals. Defense equipment makers are working on producing lightweight and high fracturing toughness armors for defense troops and vehicles.
For instance, in April 2021, CoorsTek announced the development of its Benton, Arkansas, manufacturing footprint. Development on a USD 26.0 million building expansion at the Benton complex for new aerospace and military production processes was finished in 2020.
Advanced Ceramics Market Report Highlights
Polaris Market Research has segmented the advanced ceramics market report based on material, application, end-use, and region:
Advanced Ceramics, Material Outlook (Revenue - USD Billion, 2018 - 2030)
Advanced Ceramics, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Advanced Ceramics, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Advanced Ceramics, Regional Outlook (Revenue - USD Billion, 2018 - 2030)