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
Recent Developments:
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 80,442.64 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 6.72% | 2028 Value Projection: | US$ 122,101.00 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
3M (Ceradyne Inc.), AGC Inc., Applied Ceramics, Blasch Precision Ceramics Inc., Ceramtec, COI Ceramics Inc., Coorstek Inc., Corning Incorporated, International Ceramics Inc., Kyocera Corporation, MARUWA Co. Ltd, Materion Corporation, McDanel Advanced Ceramic Technologies, Morgan Advanced Materials, Murata Manufacturing Co. Ltd, Rauschert GmbH, Saint-Gobain, Small Precision Tools Inc., Vesuvius, and Wonik QnC Corporation |
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| Growth Drivers: |
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| Restraints & Challenges: |
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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
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:
Advanced ceramics are an ideal material for many applications. They are hard and durable, can withstand high temperatures, and are chemically and electrically inert. They are also highly electrical insulators, which makes them useful in satellites, microelectronics, and cars. In addition, they can also be used in the chemical industry. The growing demand for these materials is fueling new developments.
Market Dynamics:
Growing demand from medical industry is a prime factor driving growth of the advanced ceramics market. Few applications of advanced ceramics in the medical industry include dental screws and bridges, dental implants, pressure sensors, bone fillers, X-ray tubes, hand tools, filler, valves, etc., femoral head implants for hip replacement, coatings for drug delivery purposes on implantable medical devices, surgical implants, and joint replacement. The advanced ceramic materials can withstand extreme temperatures and mechanical stresses in applications for generating energy in power plant engines and turbines or in systems for photovoltaics, solar thermal energy conversion, wind, and waterpower. This is again boosting demand for advanced ceramics. Moreover, growing demand for lightweight materials from automotive and electronic industry are further anticipated to accelerate market growth.
However, high production cost is a key factor hindering market growth. Additionally, brittleness and lack of strength of advanced ceramics is limiting its adoption in various application. In terms of sheer and tensile strength, advanced ceramics have 15 times less sheerness and tensile strength than metals.
Key features of the study:
Detailed Segmentation:
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