Market Size of Advanced Ceramics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Advanced Ceramics Market Analysis
The advanced ceramics market is expected to register a CAGR of over 6% during the forecast period (2022-2027).
- The impact of the Covid-19 pandemic on the market was largely negative, but the market has now reached pre-pandemic levels and is expected to grow steadily during the forecast period.
- Over the medium term, the major factors driving the market are the rise in use as an alternative to metals and plastics and the growing demand in the medical industry.
- On the flip slide, high capital investment for the equipment and chemical processes and uncertainty in regulative policies concerning climate change, energy & environment undermine the market.
- However, increasing applications of silicon carbide (SiC), gallium nitride (GaN), and growth in usage in nanotechnology would likely create lucrative growth opportunities for the global market soon.
- The electronics and electrical industry dominated the market, and it is expected to grow during the forecast period, owing to a wide range of electrical properties of advanced ceramics, including insulating, semiconducting, superconducting, piezoelectric, and magnetic properties.
- Asia-Pacific dominated the market globally, with the largest consumption from countries such as China and Japan.
