ADVANCED CERAMICS MARKET ANALYSIS

In recent years, there has been a rise in the use of advanced ceramics for medical devices. These ceramics exhibit a range of properties, including low friction, high compression strength, and good thermal conductivity. They have many applications in medical devices, including diagnostic imaging equipment, implants, and therapeutic devices. For instance, alumina ceramics are used in automotive engine components. They are also used in insulators, mounting brackets, and backing materials. These materials play an increasingly important role in high-tech industry, traditional industrial transformation, and national defense. They offer unique properties, including high temperature resistance and strength, and can be made to perform the functions of metals.

Market Statistics:

The global Advanced Ceramics market was valued at US$ 80,442.64 Mn in 2021 and is forecast to reach a value of US$ 122,101.00 Mn by 2030 at a CAGR of 6.72% between 2022 and 2030.

Asia Pacific held dominant position in the global Advanced Ceramics market in 2021, accounting for 53.0% share in terms of volume, followed by North America and Europe, respectively.

Figure 1. Global Advanced Ceramics Market Value Share (%), By Region, 2021

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Recent Developments:

1. In March 2019, CeramTec North America announced the expansion of its Laurens County operations, with a USD 20 million investment. This announcement of a USD 20 million investment with 14 new jobs followed 25 years of creating 210 jobs at the Laurens County facility with over USD 79 million invested.
2. In February 2021, Coorstek announces its new manufacturing plant in Southeast Asia. The first phase of a 400, 00 sq. ft engineered ceramics manufacturing facility in the province of Rayong, Thailand. The groundbreaking ceremony was held on 25th January, and the construction began in February 2021.
3. In April 2019, Kyocera Corporation announced that its Germany- based European headquarters, Kyocera Fineceramics GmbH agreed with H.C. Starck GmbH to acquire 100% of its subsidiary H.C. Starck Ceramics GmbH.

Market Drivers:

Growing use of the product in place of metal and plastics is a prime factor driving growth of the advanced ceramics market. Advanced ceramics improve material properties and characteristics, such as high hardness, high wear resistance, high compressive strength, and large electrical resistance, and strong corrosion resistance. Some ceramics, such as silicon carbide produced by CVD, offer additional advantages by allowing for relatively high thermal conductivity as well as some electrical conductivity.

Increasing demand from medical industry is another key factor fostering growth of the market. Advanced ceramics is used in insulators for endoscopy devices, cases for neurostimulators, feedthrough insulators, precision ceramic components, and dental implants. Advanced ceramics are also at work in all kinds of medical devices and equipment, such as ultrasonic tools, infusion pumps, dialysis machines, and diagnostic equipment.

Figure 2. Global Advanced Ceramics Market Value Share (%), By Class Type, 2021

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Market Restraints:

High cost of production process is a key factor hindering growth of the advanced ceramics market. The production process of advanced ceramics involves specific mechanical and chemical processes to convert raw materials into powder, malleable solid, or a slurry. These are then shaped by pressing, extruding, or casting. Moreover, some of the products require a second round of firing for the final finishing. The firing process involves high capital investment in the equipment required for the firing process.

Properties such as brittleness and lack of strength of advanced ceramics is restricting its adoption. In terms of sheer and tensile strength, advanced ceramics have 15 times less sheerness and tensile strength than metals. Moreover, they have low ductility and can be very brittle. Being bonded by covalent and ionic bonds, these materials have very low-impact resistance as compared to metals, which are bonded by multi-directional metal bonds.

Market Opportunities:

Growing adoption of SiC and GaN in various end user industries is depicting a potential market opportunity for advanced ceramics in the coming years. The promising applications where SiC and GaN can replace silicon are in IT & consumer (power supplies, converter/inverter, electronic appliances & computing, UPS, Automotive (DC/AC inverter, converter, hybrid automotive and Industrial (power distribution, Rail transport, solar power, motor control to run various equipment). SiC only finds application in wind turbines, large scale UPS.

Growing popularity of nanotechnology is expected to bring profitable market opportunities for the key players. Advanced ceramics are used in many applications, such as nano refractories, nano pigments, and nano powders, which are used as additives for manufacturing certain parts in turbines. They are also used in materials like carbon nanotubes for improving mechanical properties. These ceramics have application in nanoelectronics, as well, where they are used as additives for the production.

Market Trends/Key Takeaways:

New product development due to expanding market is expected to be a key trend in the market. For instance, in June 2021, Starfire Systems Inc. announced the release of Hafnium Carbide (HfC), a new addition to the family of silicon carbide (SiC) forming pre-ceramic polymers

Growing popularity of 3D printing is driving the need for advanced ceramics. This will favour the market growth over the forecast period. For instance, in November 2021, Tethon 3D announced its partnership with Fortify to produce technical ceramics for 3D printing.

Competitive Landscape:

1. 3M (Ceradyne Inc.)
2. AGC Inc.
3. Applied Ceramics
4. Blasch Precision Ceramics Inc.
5. Ceramtec
6. COI Ceramics Inc.
7. Coorstek Inc.
8. Corning Incorporated
9. International Ceramics Inc.
10. Kyocera Corporation
11. MARUWA Co. Ltd
12. Materion Corporation
13. McDanel Advanced Ceramic Technologies
14. Morgan Advanced Materials
15. Murata Manufacturing Co. Ltd
16. Rauschert GmbH
17. Saint-Gobain
18. Small Precision Tools Inc.
19. Vesuvius
20. Wonik QnC Corporation