The market is expected to be valued at USD XX million in 2017 and projected to reach USD XX million by 2022, at an estimated CAGR of XX%, during the forecast period 2017-2022.
Nanoceramics are ceramic materials consisting of particles with a diameter equal to or lesser than 100 nanometers. They hold about one-fifth of the ceramics market, globally. With continuous R&D activities, the nanoceramics materials have received attention owing to their superior physical and chemical properties, compared to other advanced ceramics. The nano size of this material helps it to exhibit unique properties such as high strength, bioactivity, toughness, and superplasticity.
Nanoceramics powder market is in its nascent stage as compared to other advanced ceramics. However, it has shown extensive potential and the material has been implemented in various applications. The global market for nanoceramics powder market can be segmented by its application into coatings, pharmaceuticals, semiconductors, power generation, space exploration technology, and others. Regarding revenue, in 2015, semiconductors segment dominated the market with a share of XX%, owing to the excellent conducting and insulating properties of nanoceramic materials. The inherent conducting property of these materials makes them ideal for power generation, as well. By end-user industry, the market has been segmented into electronics, construction, medical, automotive, and others. The market in this segment is driven by an extensive use of nanoceramic materials in the electronics industry, in turn, the electronics sub-segment holds a majority of the market share. The inherent properties of these materials provide a scope for construction of new generation high-speed computer chips. Apart from the electronics industry, nanoceramic powders find vast application in the medical industry, as well. They are increasingly used to manufacture artificial bone implants and other organs.
The promising performance of nanoceramic materials in high-performance coatings is the main driving force behind the growth of this market. These coatings are applied to engineering metals such as cast iron, steel, superalloys, titanium alloys, tungsten carbides, carbon/carbon composites, and other ceramics. Furthermore, the growing demand in the electronics industry is boosting the growth of the market. On the flipside, though, the high processing and manufacturing cost of these nano-sized materials is expected to hinder the market growth.
The global nanoceramics powder market has also been geographically segmented into North America, Europe, Asia-Pacific, South America, and the Middle-East and Africa. North America is the largest market for nanoceramic materials, owing to extensive R&D work in the US. Europe is the second largest market for the material with increasing demand generated by various industries. The market for nanoceramics materials in the Asia-Pacific region is in a nascent stage but is expected to have a decent part of the market share, by the end of 2021.
Opportunities and Market Players
Nanoceramics powder has tremendous opportunities in advanced technologies like space exploration and photovoltaic solar cell and is expected to propel the market in the future.
Some of the major players in the market include -
Key Deliverables in the Study