Advanced ceramics industry size is expected to register 4.9% CAGR between 2023 and 2032 driven by rising prevalence of chronic disease worldwide.
Selbyville, Delaware , Aug. 21, 2023 (GLOBE NEWSWIRE) -- Advanced ceramics market size is predicted to surpass USD 15.6 billion by 2032, as per a recent study by Global Market Insights Inc.
The increasing application of advanced ceramics across numerous sectors, with non-oxide ceramics playing a pivotal role in meeting specific industrial requirements, is pushing the market development. The exponential growth of sectors like electronics, aerospace, energy, and healthcare has led to an amplified requirement for materials that can withstand extreme conditions without any damage. The unique properties of advanced ceramics, including exceptional strength, resistance to wear and corrosion, and the ability to function under high temperatures, make them the ideal choice for challenging applications.
The automotive industry, in particular, has embraced advanced ceramics for their outstanding performance characteristics, revolutionizing the manufacturing processes. Moreover, the growing focus on sustainability and the need for efficient and eco-friendly technologies have spurred the product in automaking, contributing to the market expansion.
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Rising popularity of Non-Oxide Ceramics to influence market development
The non-oxide ceramics product segment is expected to witness substantial growth from 2023 to 2032 as ceramics such as silicon carbide (SiC) and silicon nitride (Si3N4) offer remarkable properties that set them apart from traditional ceramics. These materials exhibit exceptional thermal conductivity, mechanical strength, and corrosion resistance. Industries such as electronics, aerospace, and defense are increasingly incorporating non-oxide ceramics into their designs to enhance overall efficiency and durability. The increasing usage of non-oxide ceramics with a combination of desirable attributes for the advancement of modern technology and industrial processes is pushing the segment growth.
Innovation in the automotive sector to drive industry expansion
The automotive application segment of advanced ceramics market is anticipated to grow significantly from 2023 to 2032 owing to the extensive integration of advanced ceramics in various components of vehicles. These ceramics are employed in critical applications such as engine components, exhaust systems, and brake components, where their exceptional thermal and mechanical properties play a pivotal role in improving performance and efficiency. The lightweight nature of advanced ceramics enables reduced fuel consumption and emissions, aligning with the sustainability goals in the sector. Moreover, the product ability to withstand extreme conditions ensures better durability and longevity, reducing maintenance and replacement costs. As automotive manufacturers strive to meet stringent regulations and consumer demands for innovative and eco-conscious vehicles, the advanced ceramics integration will surge in the coming years.