Allied Market Research recently released a report titled “Technical ceramics market by material (oxide and non-oxide), product (monolithic ceramics, ceramic coatings, and ceramic matrix composites), and end-use industry (electronics and semiconductor, automotive, power and electrical, industrial, medical, military, and defense, and Others): Global Opportunities Analysis and Industry Forecast 2019-2026. According to the report, the global thermal ceramics market was valued at USD 3.8 billion in 2019 and is projected to generate USD 5.5 billion by 2027. The market is expected to grow at a CAGR of 4.7 % from 2020 to 2027.
Drivers, constraints and opportunities-
Rising demand from several end-use industries and emergence of technical ceramics as a substitute for metal is driving the growth of the global technical ceramics market. On the other hand, high energy costs for manufacturing technical ceramics are hampering growth to some extent. However, the development of electronics and semiconductor manufacturing in APAC and the rapid growth of ceramics in the healthcare industry are expected to open up a number of opportunities in the industry.
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The oxide segment took the lion’s share in 2018-
On the basis of materials, the oxide segment accounted for more than three-fifths of the global technical ceramics market revenue in 2018 and is expected to rule over the period 2019-2026. This is attributed to the high demand for alumina in electronics and electrical, automotive, energy and utilities, and other industries. The non-oxide segment, on the other hand, would cite the fastest CAGR of 6.5% during the forecast period. Being an excellent abrasive material, these ceramics are increasingly being used in grinding wheel applications, which has spurred the growth of the segment.
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The monolithic ceramic segment in the lead by 2026-
Based on product, the monolithic ceramics segment held the major share in 2018, generating more than two-thirds of the global technical ceramics market. The demand for monolithic ceramic was on the rise owing to the drastic changes in the sales of consumer electronics such as laptops, smartphones, TV, cameras, etc., which drove the growth of the segment. At the same time, the ceramic matrix composites segment would exhibit the fastest CAGR of 6.8% throughout the study period. This is because Ceramic Matrix Composites (CMCs) are advanced ceramics that exhibit a combination of properties such as relatively higher strength at elevated temperature, good corrosion and erosion behaviors, stiffness and higher toughness, high corrosion resisting power, etc.
Asia-Pacific, followed by North America, to dominate-
Based on geography, Asia-Pacific contributed more than a quarter of the global technical ceramics market share in 2018 and is expected to reign the roost by the end of 2026. has the presence of several established industries such as automotive, electronics and electrical, and energy and electricity, which collectively increase the demand for technical ceramics in the province. Simultaneously, North America would register the fastest CAGR of 6.7% through 2026. Rising adoption of technical ceramics in the region’s medical, military and defense industries fueled the growth of the market.
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McDanel Advanced Ceramic Technologies
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Sumitomo Bakelite Co.Ltd.
Toray Industries Inc.
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