Global Industrial Ceramics Market is projected to reach US$ 218.1 Billion at a CAGR of 6.1% during the forecast period of 2022 to 2032 | Data by Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
7 min read
Future Market Insights Global and Consulting Pvt. Ltd.
Higher Innovation Quotient (IQ) to keep the Industrial Ceramic Market going, reaching US$ 218.1 Billion by the year 2032. Growth of automotive and electronics industry is one of the major driving factors of the industrial ceramics market
DUBAI, United Arab Emirates, April 04, 2023 (GLOBE NEWSWIRE) -- The global industrial ceramics market was worth US$ 118.9 Billion in the year 2022 and is expected to reach US$ 218.1 Billion by the year 2032 at a CAGR of 6.1% between 2022 and 2032.
Improving infrastructure worldwide is expected to take the industrial ceramics market by storm in the near future. The construction vertical is the flagbearer herein. Ceramic implants are turning out to be more popular across the globe due to advancements in medical technology. They are used at a greater scale in the dental and orthopaedics sub-vertical.
Industrial ceramics find applications across end-users like aerospace & aviation, automotive, healthcare, oil & gas, and the other industrial verticals.
The automotive sector has industrial ceramics-based products like ceramic bearings, mechanical seals, sensors, and valves. For instance – Yttria Stabilized Zirconia (one of the ceramic materials known for higher tensile strength) is well-suited for pump components like fuel injectors, and the mechanical seals for highly durable engines.
Coming to pumps, critical components like stator and rotor are being produced from the industrial ceramics; particularly in the applications that involve movement of the high-temperature fluids. The major advantage is that industrial ceramics perform better under high temperatures and do have a better resistance against wear and corrosion. Insulation tiles are known for having a long history of utilization in the space shuttle program of NASA.
In today’s world, advanced industrial ceramics like glass-ceramic composites are used for making windows, panels, canopies, and lenses due to the higher heat resistance and being lightweight.
Future Market Insights has etched these facts with future perspectives in its latest market study entitled ‘Industrial Ceramics Market’. It has its determined team of analysts and consultants for executing through 360-degree view in its primary, secondary, and tertiary modes of research.
“With automotive and medical verticals increasingly asking for ceramics, the industrial ceramics market is likely to grow on a grand note in the near future”, says an analyst from Future Market Insights.
Key Takeaways from Industrial Ceramics Market
The Asia-Pacific holds the largest market share with rapidly expanding automotive vertical, fast-paced energy & power sector, and rising innovation in healthcare and aviation in Japan, China, and India.
Europe and North America have conventionally been stronger markets for industrial ceramics. The scenario is expected to remain unchanged even in the forecast period. The US, Germany, and the UK are leading from the front.
Kyocera Corporation, in the year 2019, did announce that it had acquired Friatec GmbH’s ceramic business. It has actually given the company a ceramic production all across the Europe; thereby letting it fulfil expansion of industrial machinery components.
CeramTec, in 2021, did create a novel 3D printing technology for getting construction pieces from technical ceramics. It’s a quick and low-cost 3D printing method.
SCOTT AG, in September 2021, completed acquisition of Applied Microarrays Inc. for expanding the diagnostic business.
Bodycote, in April 2021, completed acquisition of Ellison Surface Technologies for creating the biggest engineered coating surface technology along with thermal spray services.
Oerlikon Balzers, in April 2021, expanded the first customer center in Vietnam; thereby expanding its footprints in the Asia-Pacific.
AGC Ceramics Co., Ltd., in December 2022, entered into collaboration with AMSKY technology Co., Ltd. for expanding the sales of BRIGHTORBTM 1, the 3D printing material in China.
Kyocera, in February 2022, did launch the high-speed ceramic packages as well as substrates for the optoelectronic devices at OFC.
AGC Si-tech, in July 2022, did launch Integrated Silica Product Brand RESIFATM to expand eco-friendly silica products like Microplastic Substitutes all through Norway.
CeramTec, in April 2021, did develop a ceramic power module for the drive inverters for e-mobility solutions. The company collaborated with Fraunhofer Institute for Integrated Systems and Device technology for developing cooling solutions for power electronics in the e-mobility drive trains.
The research study is based on type (alumina, silicon carbide, tungsten carbide, mullite, cordierite, zirconium dioxide, and silicon nitride), by product (pipes & tubes, insulators, knives & cutters, medical implants, fiber optic connectors, electrical connectors, nozzles, rods, filters, coatings, and formed components), and by end-use (automotive, aerospace & aviation, power, oil & gas, healthcare, and industrial).
With growing demand from building and construction vertical, the global industrial ceramics market is bound to grow on an impertinent note in the forecast period.
Explore FMI’s Extensive Ongoing Coverage on Chemicals & Materials Domain
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce, headquartered in Delaware, USA. As a recipient of the Clutch Leaders Award 2022 for a high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
