The latest report by IMARC Group, titled "Technical Ceramic Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," finds that the global technical ceramic market size reached US$ 79.8 Billion in 2022. Technical ceramics, also known as advanced or engineered ceramics, are inorganic materials manufactured with synthetic raw materials under a controlled process. These materials exhibit high strength and electrical and corrosion resistance properties. They are also customizable and can maintain a precise and high-tolerance finish longer than any other material. Owing to these benefits, technical ceramics are widely utilized in the electronics, healthcare, and automotive industries across the globe.
Global Technical Ceramic Market Trends:
The market is primarily driven by the increasing utilization of technical ceramics as alternatives to metals, polymers, and refractory materials due to their hardness, chemical stability, and high-temperature properties. Technical ceramics are widely utilized to manufacture liners, shafts, pump plungers, valve seats, spray nozzles, mechanical seals, milling media, knives, lift pins, blades, bushings, and semiconductor rings. In addition, the emergence of advanced technical ceramics, such as aluminum oxide (Al2O3), zirconium dioxide (ZrO2), silicon carbide (SiC), and silicon nitride (Si3N4), that are used in metal forming and machining of parts represents another major growth-inducing factor. Besides this, these ceramics are widely adopted in the healthcare industry to produce hip and knee implants as they offer chemical inertness and high wear resistance. This, coupled with the rising product adoption in dentistry for implants, fillings, and bonding materials in root canal procedures, is positively influencing the market growth. Looking forward, IMARC Group expects the market value to reach US$ 114.5 Billion by 2028, exhibiting a CAGR of 5.4% during the forecast period (2023-2028).
- Based on the material type, the market has been bifurcated into oxide and non-oxide ceramic.
- On the basis of the product, the market has been classified into monolithic ceramics, ceramic coatings, and ceramic matrix composites (CMC).
- Based on the end use industry, the market has been segmented into electronics and semiconductor, automotive, energy and power, medical, military and defense, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being 3M Company, Bakony Technical Ceramics, CeramTec GmbH, Compagnie de Saint-Gobain S.A., CoorsTek Inc., Elan Technology, General Electric Company, KYOCERA Corporation, Mantec Technical Ceramics Ltd., Morgan Advanced Materials plc, NGK Spark Plug Co. Ltd. and Rauschert GmbH.
|Base Year of the Analysis
||Material Type, Product, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||3M Company, Bakony Technical Ceramics, CeramTec GmbH, Compagnie de Saint-Gobain S.A., CoorsTek Inc., Elan Technology, General Electric Company, KYOCERA Corporation, Mantec Technical Ceramics Ltd., Morgan Advanced Materials plc, NGK Spark Plug Co. Ltd. and Rauschert GmbH.
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