Coherent Market Insights

Advanced Ceramics Market Estimated at US$ 18.12 Bn By 2031

Advanced Ceramics Market Estimated at US$ 18.12 Bn By 2031 - Coherent Market Insights

Publish In: Apr 30, 2024

The global Advanced Ceramics Market is estimated to be valued at USD 11.89 Billion in 2024 and is projected to reach USD 18.12 Billion by 2031, registering a CAGR of 6.2% over the forecast period. The electronics industry has been the largest consumer of advanced ceramics owing to their use in electronic components and semiconductor devices. Furthermore, advanced ceramics are increasingly being used in aircraft engines to reduce weight and increase fuel efficiency.

The demand for advanced ceramics is driven significantly by increasing consumption in the electronics industry for applications such as capacitors, piezoelectric devices, and other electronic components. Within the electronics sector, the semiconductor and electronics sub-segment accounted for the largest share of over 35% in 2021. Another major factor driving the market growth is the increased use of advanced ceramics in the aerospace industry for manufacturing aircraft engines, blades, and armor to enhance strength and reduce weight. Advanced ceramic materials, such as silicon carbide, are ideal for applications involving high temperatures and pressures. The development of new applications across industries will continue to support the market growth over the forecast period.

Growth in Aerospace and Defense Industries is driving the Demand for Advanced Ceramics

Advanced ceramics are increasingly being used in these industries due to their unique properties like high strength, temperature, and corrosion resistance. Ceramics allow for lighter and more durable components that can withstand extreme conditions encountered in aircraft and weapons systems. They are used in applications like engine components, armor plating, radomes, and optical systems. As air travel increases globally and defense budgets remain robust, the demand for advanced aircraft and defense technologies will rise consequently driving the greater use of advanced ceramics.

Increasing Usage of Advanced Ceramics in Medical Implants is Fueling the Market Growth

Advanced ceramics are widely used in medical implants and prosthetics due to their biocompatibility. Ceramics are utilized to replace bone, teeth, and other body parts due to growing rates of age-related disorders, trauma injuries, and rising life expectancies. They exhibit properties like hardness, strength, and corrosion resistance suitable for long-term implantation. Advancements are being made to develop stronger, more customized ceramic implants. The aging global population combined with greater access to healthcare is expected to drive considerable long-term demand for joint replacements, dental implants, and other bio-ceramic applications. As their usage increases for medical devices and tissue engineering, the advanced ceramics market is projected to experience sustained growth.

High Production Costs Pose a Challenge to Adoption

While advanced ceramics offer excellent performance advantages, their production remains costly compared to traditional materials like metals. Achieving the desired density, strength, and microstructure of engineering ceramics requires elaborate processing techniques like sintering at very high temperatures. The manufacturing process consumes significant energy and has lower yields than production of polymers or engineering alloys. Obtaining consistent and controlled properties over large volumes can also be challenging. High material and production costs have limited the widespread commercial use of advanced ceramics to specialized, high-value applications where performance advantages outweigh the cost factor. Bringing down production costs will be crucial to drive broader adoption across other industries.

Lack of Reliable Processing Methods Hinders Market Potential

Advanced ceramic components have complex microstructures determining their strength, behavior, and durability. Developing reliable and repeatable fabrication techniques still remains a challenge, especially for net or near-net shape forming of complex components. Issues arise due to ceramics being brittle and sensitive to flaws. Conventional processing has difficulties achieving desired density levels and microstructures. Newer techniques like additive manufacturing have promise but require further refinement for industrial scale production. Lack of standardized manufacturing approaches causes uncertainty regarding performance consistency and reliability of ceramic parts. Overcoming bottlenecks in forming and handling methods could unlock greater commercial opportunities for advanced ceramics across high volumes.

Growing Demand for Energy Efficient and Green Technologies Presents Opportunity

Rising environmental consciousness and sustainability goals are driving demand for reduced emissions and more eco-friendly technologies across industries. Advanced ceramics can facilitate improved energy efficiency in diverse fields through applications like solid oxide fuel cells, thermal barrier coatings, piezoelectrics, membrane technologies and lightweight automotive components. For example, ceramic matrix composites enable higher operating temperatures in gas turbine engines leading to dramatically increased fuel efficiency. Toughened alumina ceramics find use in electronics for their electrical insulation properties. As regulations tighten globally to curb pollution and boost renewable energy generation, advanced ceramics stand to benefit greatly given their capabilities to enable much greener technologies. This presents a major market opportunity over the coming decades.

Rapidly Expanding Power Electronics Industry Creates Significant Prospects

The power electronics industry involving devices such as batteries, solar panels, and electric vehicles, LED lighting and smart grids has experienced astronomical growth rates driven by renewable energy adoption and digitalization. Advanced ceramics play a crucial role in enabling higher power density, efficiency and reliability of these power electronic components. They serve as insulating substrates, conductive pastes, hermetic seals, and thermal interface materials. The continuous miniaturization and higher voltage/current requirements of power chips are driving greater ceramics content. Analysts project power electronics to be one of the largest and fastest expanding end use sectors for advanced ceramics in the near future. With policy goals emphasizing electrification globally, this presents immense prospects for ceramics suppliers to power the expanding clean energy economy.

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Key Developments

  • In 2023, Alteo launched HYCal alumina solutions for Advanced Ceramics
  • In 2022, , eramtec GMBH launched a new product AlN HP ceramic substrate. This AlN HP ceramic substrate is used in power electronics such as high-power LEDs or chip resistors.
  • In 2021, CeramTec developed a ceramic power module for drive inverters with Fraunhofer Institute
  • In 2021, CoorsTek, world’s leading engineered ceramics manufacturer, announced the expansion of its manufacturing footprint in Southeast Asia. The U.S.-based company is beginning construction on the first phase of a 400,000 sq., ft. engineered ceramics manufacturing facility in the province of Rayong, Thailand whose construction began in February 2021.

Key Players

3M, AGC Ceramics Co., Ltd., CeramTec GmbH, CoorsTek Inc., Elan Technology, KYOCERA Corporation, Morgan Advanced Materials, Murata Manufacturing Co., Ltd., Nishimura Advanced Ceramics Co., Ltd., Ortech Advanced Ceramics, Saint-Gobain, Applied Ceramics, Blasch Precision Ceramics Inc., Corning Incorporated, International Ceramics, Inc., and Technocera

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