Technical ceramics: Key market research findings
- APAC dominates the market geographically
- Incorporation of low-cost production technologies drives market growth
- Key vendors – CeramTec, Ceradyne, CoorsTek, Morgan Advanced Materials, and Kyocera
Technavio’s market research analysts predict the global market for technical ceramics to grow at a CAGR of more than 6% between 2016 and 2020. The growth of this market can be accredited to the increasing use of technical ceramics in high-temperature applications. Poor heat management in conversion processes accounts for more than 45% of the total energy lost in industrial processes. This loss of energy can be reduced with the use of products made of technical ceramics. In 2015, the global technical ceramics market was dominated by APAC, which accounted for almost 38% of the overall market share. The rise in end-use applications such as electronics, automotive, medical, and military and defense will propel the growth of the technical ceramics market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the technical ceramics segments based on the end-user industry.
“Vendors in the market are aiming to incorporate low-cost production technologies for the manufacture of technical ceramics. Currently, technical ceramics aren’t widely accepted as conventional metals and alloys due to its high cost. The adoption of low-cost production technologies will help lower the cost of technical ceramics, thereby, propelling their adoption,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.
By 2020, the electronics industry segment will continue its dominance as the key revenue generating vertical of the global technical ceramics market by accounting for around 31% of the overall market revenue. In the electronics industry, technical ceramics are used in capacitors, integrated circuit packages, transducers, and insulators in various electronics equipment. The recent rise in disposable income across developing economies in APAC, including India, is increasing the demand for electronic devices. The strong growth of this industry vertical is expected to drive the demand for technical ceramics during the forecast period.
The prominent players in the global technical ceramics market include CeramTec, Ceradyne, CoorsTek, Morgan Advanced Materials, and Kyocera. Vendors in the market compete on the basis of innovation, price, operational cost, and product quality to gain an edge over their peers. In addition, the vendors that have access to extensive financial, technological, and other resources will be able to endure changes in market conditions.
A more detailed analysis is available in the Technavio report, Global Technical Ceramics Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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