The South America advanced ceramics market is estimated to register a CAGR of 8.58%, during the forecast period, 2018-2023. Brazil is estimated to dominate the market in the region, owing to the ongoing recovery in the country’s automotive industry. Electricals & electronics industry is projected to be the major end-user of advanced ceramics in the region.
Increased Use as an Alternative to Metals and Plastics
Advanced ceramics exhibit a number of exceptional properties, such as high resistance to bending, melting, stretching, corrosion, and wear & tear. Their physical stability, heat resistance, chemical inertness, good electrical properties, and suitability to be used in mass products, make them a better alternative to metals and plastics. These advanced ceramics find their use in a number of auto components, like engine blocks. It improves engine efficiency and causes less pollution. Advanced ceramics can be used in aerospace sectors, where turbine blades can be applied to resist extreme temperature and high-pressure conditions. All the attributes of advanced ceramics combined is driving the market in the region.
Electricals & Electronics Industry to Dominate the Market
Advanced ceramics reinforce the electronics industry; the average aircraft is packed with electronics. Gradually, these electrical components, such as sensors, antennas, capacitors and resistors, are getting smaller and more capable. Therefore, this is a major area of development for advanced ceramics. With the continuing globalization of the microelectronics industry coupled with localization of manufacturing capabilities, the South American market has several new opportunities for electronics manufacturing. The growing electrical and electronics industry in the region is estimated to boost the demand for advanced ceramics during the forecast period.
Brazil to Lead the Market with High Share
Brazil is the third major aerospace manufacturer in the world. The Sao Paulo state in Brazil is the largest aerospace hub in Latin America. The state has around 100 manufacturing facilities out of which 73% are Brazilian units. Embraer, Brazil based aerospace manufacturer is the largest manufacturer of commercial and military aircrafts in the region. During the forecast period, the construction sector in the country is expected to grow at a moderate rate, which is expected to be reflected on advanced ceramics as well.
Notable Developments in the Market
- March 2016: CoorsTek invested $120 million to create a new Center for Advanced Materials in Golden, Colorado
Major Players: Kyocera Corp., CoorsTek Inc., Ceradyne Inc., Murata Manufacturing Co. Ltd., Corning Incorporated, among others.
Reasons to Purchase this Report
- To understand the impact of increasingly stringent regulations on the market
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
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- Countries expected to witness the fastest growth during the forecast period
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