Advanced ceramics: Key market research findings
- APAC dominates the market geographically
- Ceramic tiles account for a majority of the market’s revenue
- Key vendors – CeramTec, Ceradyne, CoorsTek, Morgan advanced materials, and Kyocerato
Technavio’s market research analysts predict the global market for advanced ceramics to grow at a CAGR of more than 7% between 2016 and 2020. The demand for advanced ceramics is driven primarily by its growing applications in electronic components and circuits. Ceramic materials are used in electronic components as ferrites, ferroelectrics, and few transition metal oxides. This is due to their glass forming habit where the molten ceramics needs to be cooled rapidly to achieve homogeneous glasses, which is crucial for controlling phase dispersion, as required in most electronic applications. During 2015, APAC accounted for around 61% of the overall market share to become the dominant shareholder in the global market. The demand from the flourishing construction sector in the region will drive further growth of the advanced ceramics market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the advanced ceramics segments based on the application.
“The demand for customization in the market is currently on the rise. OEMs in some industries prefer customized technical ceramics for their components. The production of customized components is not always feasible as it increases the production cost and time. Market players, instead of producing simple shapes, prefer to manufacture technical ceramics according to the buyers or OEM requirement,” says Ajay Adikhari, Lead Analyst, Chemicals & Materials, Technavio Research.
By 2020, the ceramic tiles segment will account for around 44% of the overall market revenue to retain its position as the key revenue generating vertical of the global market. Ceramic tiles are used as floor tiles, wall tiles, and for other purposes in buildings. The global ceramic tiles market is driven mainly by the growing construction activities globally. The increase in the number of residential projects and buildings in emerging economies such as China and India is also fostering the market growth. The demand for ceramic tiles is consumer driven as their desire to replace metal slabs, paints, marble floors, and other decorative materials with ceramic products is increasing.
The key vendors in the global advanced ceramics market include CeramTec, Ceradyne, CoorsTek, Morgan advanced materials, and Kyocerato. These players have a vast geographical presence with production facilities located worldwide. Nonetheless, there are a sizeable number of small regional vendors with significant shares in the market. Competition in the market is expected to increase in the coming years, owing to the growing number of small regional vendors with significant shares in the market.
A more detailed analysis is available in the Technavio report, Global Advanced Ceramics Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
