Growing application of advanced ceramics market as an alternative for metal and plastics owing to its reliable properties and environment friendly nature, hence these factors will drive the market over coming years. Other than these rapidly increasing demand form healthcare industry for several applications in medical devices and pharmaceutical products is substantially growing the market over forecast period. Overall growing demand of the electronics goods coupled with increasing demand for medical application will augment the demand for the advanced ceramics market
.The advanced ceramics are extensively used for construction, housing, aerospace, medicinal and electronic application, in a form of bricks, pipe, ceramics titles, ceramic abrasive and tiles. Growing requirements for the customization of various application is propelling the market growth over the forecast timeframe. Moreover, its corrosion resistance properties help in reducing maintenance cost of products in various industries like defence, transportation and electronics which is further promoting market growth over the coming years.
Majority of this are consumed for manufacturing electronic products which is called electroceramics. Growing demand of electronics market due to shift in consumer preference favouring consumer lifestyle goods have positively influenced the product manufacturer to use alternative materials for producing their electronic goods, for which one the raw material is advanced ceramics, thus growing electronics and electrical industry is further enhancing the growth of advanced ceramics market over the forecast period.
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The advanced ceramics market is estimated to witness a massive growth from 2017 to 2024. The growth is attributed by growing demand from medical industry mostly for manufacturing joint implantation and dental procedure also used for electrical and electronic industries owing to its high temperature resistance, damage tolerance and corrosion resistant properties which is likely to grow the market across the globe over forecast period.
Advanced ceramics are non-metallic and inorganic which is synthetically produce by using purified and refined powder. It is manufactured to overcome limitation of conventional ceramics, with value added properties. Advanced ceramics have several properties such as high temperature stability, toughness and corrosion resistance which are required for wide range application in electronics, transportation, telecommunication, manufacturing, medicinal and defence.
Major factor restricting the market growth is high purchasing price of advance ceramic substances as compared to conventional material such as metal and alloy. Therefore, high cost is negatively impacting the growth of global advanced ceramics market over the forecast timeframe. Although application of advanced ceramics will increase in future owing to its advance properties and better offerings.
Asia Pacific is predicted to have the largest share by the end of 2024. Increasing demand for advanced ceramics due to rapidly growing industries specially for construction and infrastructure, manufacturing and healthcare industry. The growth industrial sector is supported by government through investment plans for enhancing industrial growth in the region hence these factors are augmenting the overall advanced ceramics market in the region.
The North America region is predicted to rise at a reasonable CAGR by the end of the forecast timeframe. The market is highly driven by healthcare and electronic industry, rising research and development for implementing better technology and developing high quality product is growing the regional market over the forecasted period. North America’s mature market is highly competitive, which is further enhancing the product portfolio with innovative technology. Latin America and Europe are projected to expand at a CAGR during the forecast timeframe.
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Prominent companies of global advance oxide market are estimated to be highly competitive. Few of the primary players in the market include companies such international ceramic engineering(ICE)., Coorstek INC., CERAMTEC, Murata Manufacturing Co. Ltd, Kyocera Corp Corning Inc., Rauschert Steinbach GmbH, Ceradyne Inc, Coors Tek, Blasch Precision Ceramics Inc, Materion Corporation., 3M, COI CERAMICS, INC., SAINT-GOBAIN ADVANCED CERAMICS LLC and Morgan Advanced Materials. Few of these companies have diverse product portfolio with higher geographical reach. This market is highly fragmented with the presences of several large and small vendors. However, the competition within the market will increase owing new potential market entrance.
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