Growing Electrical and Electronics Industry is Expected to Propel the Growth of the Advanced Ceramics Market

The growth of the Advanced Ceramics Market will be remarkably dependent on the electrical and electronics industry. Advanced ceramics exhibit important properties such as oxidation resistance, wear resistance, temperature resistance, corrosion resistance and strength at a high temperature. It is traditionally been known for superior electrical resistance and radiation resistance. The major types of material available in advanced ceramic include alumina, zirconia, ferrite and aluminum nitride among others. These are widely used in electrical applications for circuit carriers, sensors, actuators and heat sinks. The Advanced Ceramics market is predicted to grow at a CAGR of 7% during the forecast period of 2022-2027 and reach the market value of US$35 billion by 2027.

On the basis of end-use industry, the advanced ceramic market can be segmented into electrical & electronics, automotive, machinery & metal processing, medical, chemical, aerospace, biotechnology, energy & power and others. The electrical and electronics segment held the largest Advanced Ceramics Market share in 2021, with a share of over 21%. This growth is mainly attributed to the extensive use of advanced ceramics in LED substrate fabrication, semiconductors and high-frequency signal transmission. It is further used to produce protective parts, hermetic packaging, spark plugs and power lines. According to the India Brand Equity Foundation (IBEF), the electronics manufacturing industry in India is projected to reach US$520 billion by the year 2025. Furthermore, according to the data provided U.S Census Bureau, in July 2022, electronic component manufacturing in the US increased by 14.8% in comparison to 2021 for the same month.

On the basis of geography, the Advanced Ceramics market can be categorized into North America, Europe, Asia-Pacific, South America and the Rest of the World. According to Industry’ARCs analysis, Asia-Pacific has emerged as one of the most lucrative regions in the market. In 2021, the Asia Pacific region held a market share of 44% of the overall market. Asia-Pacific comprises fast developing economies such as China, India, Indonesia and Malaysia which is supporting the market growth. Advanced ceramics are widely used in several applications such as wind turbines, knee replacement elements, pressure sensors, valve parts and injection systems among many others. Thus, the adoption of advanced ceramics in several industries is further boosting the market growth in this region. Asia-Pacific is followed by North America which is expected to gain demand for the advanced ceramics market. The major countries in North America include the U.S., Canada and Mexico.

The key companies holding a major share in the advanced ceramics market are CeramTec GmbH, AGC Ceramics Co., Ltd., 3M, CoorsTek Inc., Elan Technology, KYOCERA Corporation, Saint-Gobain, Corning Incorporated, Morgan Advanced Materials and Murata Manufacturing Co. Ltd.

About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.