The global engineering ceramics market size is projected to experience considerable growth in the foreseeable future. This information is published by Fortune Business Insights in its report, titled “Engineering Ceramics Market, 2022-2028“. The application of the product is spread across the domains of aerospace, electronics, and biomedical. The advancing technology in these domains require high quality material that is supplied by this type of ceramic. For instance, in 2021, Allmech decided to use Runxin’s patented ceramic ball valve units at various sewerage treatment plants, paper mills, chemical plants, and irrigation systems.
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Based on the product type, the market for engineering ceramics is segmented into oxide ceramics and non-oxide ceramics. On the basis of application, the market is classified into electronics & semiconductor, automotive, energy & power, industrial, medical, and others. Based on geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Contain?
The insights in the report are based on primary and secondary research to come to authentic conclusions. The analysis is based on industry-wide data and market projections are estimated by our in-house experts. The data is classified on various bases and each segment meticulously studied to give strategies based on market dynamics. The indispensable guidance provided by our experts is beneficial for the new entrants to the market. The guidance includes business priorities, pricing, prominent business models, challenges, potential business expansion opportunities, and much more. This report is not only beneficial for the new entrants or business holders of the market but also for the investors in this product
Increasing Utilization of Electronics to Augment Growth
The electronics and semiconductor sector experienced substantial growth in recent years due to the rise in consumption of cell phones. This, in turn, is expected to boost the use of ceramics in the foreseeable future. For instance, in 2021, AVX launched UBC 550 Series Ultra-Broadband Capacitors that have multilayer ceramic construction in it. Such applications across various industries have led to the global engineering ceramics market growth
The automotive sector has been experiencing considerable growth in the last decade with advancing technology leading to substantial innovations in the sector. The rising demand for automotive has resulted in increasing sales of the ceramic due to their excellent properties such as resistance to high temperatures.
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Increasing Consumption of Automotive in Asia Pacific to Aid Growth
Asia Pacific is expected to lead the engineering ceramics market share in the forthcoming years. This is due to the increasing use of the ceramic in electronics & semiconductor, along with the automotive industries. The development of these sectors in the region has propelled the growth of the market.
North America is expected to hold second position in the market during the forecast period. This is due to the rising consumption of engineering ceramics in the healthcare sector. The strong economy and end user industries in the region is anticipated to fuel its growth in the foreseeable future.
Key Players to Focus onStrategic Product Launches to Amplify Market Position
The fragmented structure of companies in the market for engineering ceramics results in only a few prominent players. These players are focused on business expansion at the regional and global levels. Some of them are investing in advancements in production technology to increase the production efficiency of the ceramic. Product launches, expansion, acquisition, partnership, technological advancement, and others are the key trends of the market. The growing demand from end-use industries for more volume of the ceramic is an excellent opportunity for the new entrants of the market to make their mark in this industry
- May 2021: IPhone manufacturer Apple, recently awarded USD 45 million from its advanced manufacturing fund to Corning. This award was for designing the ceramic shield used on the iPhone 12 line up. It is claimed to be one of the strongest materials, tougher than any smartphone glass.
List of Key Players Profiled in the Market:
- Kyocera Corporation
- CeramTec GmbH
- Morgan Advanced Materials
- McDanel Advanced Ceramic Technologies
- Saint-Gobain Ceramic Materials
- CoorsTek, Inc.
- Rauschert Steinbach GmbH
- Dyson Technical Ceramics Limited
- NGK Spark Plug Co., Ltd.
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