The advanced ceramics market consists of manufacturing and sales of engineered materials designed for high-performance and specialty applications. These materials exhibit special physical, mechanical, chemical, and thermal properties that make them suitable for demanding applications in medical, electronics, industrial, and other processes which requires high temperature resistance, corrosion resistance, strength, and wear resistance.
Market Overview: Advanced ceramics include alumina, titania, zirconia, silicon carbide and silicon nitride among others. They offer superior mechanical properties such as high strength, resistance to heat and corrosion, and stability at high temperatures. Advanced ceramics provide lightweight solutions across applications in automotive, medical, electronics and defense industries. Some key applications include turbine blades, medical implants, cutting tools, and electronics substrates. Market key trends: One of the major trends in advanced ceramics market is growing demand for lightweight and durable materials across automotive and aerospace industries. Original equipment manufacturers are actively focusing on reducing vehicle weight to improve fuel efficiency as well as enhance performance. Ceramic automotive components such as spark plug insulators and catalytic converters help achieve weight savings. In aerospace industry, ceramic matrix composites and monolithic ceramics are increasingly replacing metals in engine and structural components of aircrafts and spacecrafts owing to their strength and heat resistance. Rising demand from these industries is expected to drive the advanced ceramics market over the forecast period. The global Advanced Ceramics Market Growth is estimated to be valued at US$ 91617.4 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Porter’s Analysis Threat of new entrants: The threat of new entrants is moderate as advanced ceramics require high capital investment to build manufacturing facilities that meet required standards. Bargaining power of buyers: The bargaining power of buyers is medium since advanced ceramics are highly specialized products and buyers have limited negotiating power on pricing due to differentiated products. Bargaining power of suppliers: The bargaining power of raw material suppliers is high as there are a limited number of raw material suppliers globally for the industry. Threat of new substitutes: The threat of new substitutes is low as advanced ceramics have unique high durability and heat resistance properties that are difficult to substitute. Competitive rivalry: The competitive rivalry is high among existing players due to technological innovation and market consolidation. SWOT Analysis Strength: Advanced ceramics offer high corrosion resistance, wear resistance and strength at elevated temperatures which makes them suitable for a range of applications. Weakness: High manufacturing costs and lengthy production process involved in advanced ceramics make it difficult to reduce costs. Opportunity: Growing demand from various industries like electrical & electronics, transportation and medical is creating opportunities for advanced ceramics market. Threats: Volatility in raw material prices poses threats to advanced ceramics market. Development of alternative materials acting as substitutes to advanced ceramics also threatens the market growth. Key Takeaways The global advanced ceramics market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing demand from various end use industries like electronics & electrical, transportation and medical devices. Regionally, Asia Pacific dominated the global market in 2023 and is expected to maintain its lead position over the forecast period with growing adoption in countries like China, India and Japan. Key players operating in the advanced ceramics market are 3M (Ceradyne Inc.), AGC Inc., Applied Ceramics, Blasch Precision Ceramics Inc., Ceramtec, COI Ceramics Inc., Coorstek Inc., Corning Incorporated, International Ceramics Inc., Kyocera Corporation, MARUWA Co. Ltd, Materion Corporation, McDanel Advanced Ceramic Technologies, Morgan Advanced Materials, Murata Manufacturing Co. Ltd, Rauschert GmbH, Saint-Gobain, Small Precision Tools Inc., Vesuvius, and Wonik QnC Corporation. Read More: https://www.dailyprbulletin.com/advanced-ceramics-in-electric-vehicles-size-and-share-analysis/
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
November 2023
Categories |