Technical Ceramics Market : Regional Industry Segmentation, Analysis by Production, Consumption, Revenue and Growth Rate by 2023
Global Technical Ceramics Market Research Report: by Product (Monolithic Ceramics, Ceramic Matrix Composites, Ceramic Coatings), Material (Oxide, Non-oxide), End-user (Electronics & Semiconductor, Automotive, Energy & Power, Medical) – Forecast till 2023
Pune, India -- (SBWire) -- 03/22/2018 --Technical Ceramics are used in a wide range of end-use industry application owing to their excellent properties such as chemical & heat resistance and mechanical stresses among others. It is extensively used in applications such as medical devices, transport equipments, sports equipments, armour material, circuit carriers and others. The rising growth pharmaceutical and automotive industry across the globe is substantially affecting the growth of the technical ceramics market.
The Global Technical Ceramics Market is being driven by a range of application in various end-use industries such as automotive, energy & power, pharmaceuticals, military & defense and other. Moreover, it is estimated that the electrical and electronics industry is set to witness the highest growth due to the growing consumption in applications such as core materials, circuit carriers, and ceramic substrates in the forecast period, 2017-2023.
The Global Technical Ceramics Market is segmented into product type, material, and end-user. On the basis of the product type, the market is segregated into monolithic ceramics, ceramic matrix composites, ceramic coatings and others. The market by material is segmented into oxide and non-oxide. The market by end user industry is further categorized into electronics & semiconductor, automotive, energy & power, pharmaceuticals, military & defense and others.
The electrical and electronic segment followed by the automotive end-user segment are anticipated to observe a higher CAGR during the forecast period. The properties such as corrosion resistance, heat resistance makes the use of technical ceramics in applications such as sensors in cars, circuit carries and other electronics components.
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Some of the prominent players operating in the Global Technical Ceramics Market CeramTec GmbH (Germany), Kyocera Corporation (Japan), Morgan Advanced Materials (U.K), Saint-Gobain Ceramic Materials (U.S.), McDanel Advanced Ceramic Technologies (U.S.), 3M Company (U.S.), Rauschert Steinbach GmbH (Germany), Dyson Technical Ceramics Limited (U.K), Superior Technical Ceramics (U.S.), and NGK Spark Plug Co., Ltd. (Japan) among others.
The Global Technical Ceramics Market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing region at a considerably higher CAGR. The presence of the most populated countries of the world such as India and China has augmented the demand for various sectors such as the electronics and automotive among others, which, in turn, is anticipated to fuel the demand for technical ceramics in the region. Moreover, the growing demand for energy has augmented the power sector industry, mainly in India and China which in turn is expected to positively affect the growth of the market.
The European region is estimated to witness a significant growth in the countries owing to the burgeoning pharmaceutical and automobile industry. The increasing use of technical ceramics owing to its enhanced strength, chemical and heat stability among others has increased the adoption rate in the region. Moreover, the growing application in the environmental engineering coupled with the increase government participation in the conservation of environment is further burgeoning the usage of the product in this region.
The North American Technical Ceramics Market is mainly driven by the U.S. and Canada. The presence of the developed end-user industries such as automotive and electronics coupled with the increasing adoption rate is contributing significantly to the growth of the market. Moreover, the growing investment in energy and defense sector is further expected to add fuel to the growth of the market.
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