Market Leader - Advanced Ceramics Market
The global advanced ceramics market size is estimated to be USD 10.9 billion in 2022 and is projected to reach USD 13.9 billion in 2027, at a CAGR of 5.1% during the forecast period. The market for advanced ceramics has exhibits high growth in its end-use industries owing to the expanding demand for these ceramics in applications such as 5G connectivity, AI, IoT, and 3D printing technology. This rise in demand is backed by the superior properties of ceramics to withstand corrosive, high-temperature, and hazardous chemical environments.
Advanced ceramics market is dominated by few established players such as Kyocera Corporation (Japan), CeramTec (US), CoorsTek (US), Saint-Gobain Ceramic Materials (US), Morgan Advanced Materials (UK), and 3M (US). Increase in demand for advanced ceramics and the increasing demand for electronics in the emerging economies, such as APAC and South America, are driving the market. The key players in the advanced ceramics market include. These players have adopted various growth strategies, such as new product launches, expansions, joint ventures, and mergers & acquisitions adopted by the leading market players between 2018 and 2022.
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Kyocera Corporation is a leading player in the advanced ceramics business and the company operates through following business segments, namely, Industrial & automotive components, semiconductor components, electronic devices, communications, document solutions, and life & environment. The company offers advanced ceramics through its industrial & automotive components segment. In 2021, Kyocera Corporation invested USD 97 million to build two additional production facilities at its Kokubu Plant Campus in Kagoshima, Japan. This investment will help the company to increase its production and to serve rising demand from end-use industries.
Ceramtec is an experienced player in advanced ceramic market. The company operates through two business segments namely, medical and industrial. It offers advanced ceramics through both of these business segments. The company emphasizes on development of ceramics for new applications. For instance in 2021, CeramTec has launched a new product under the name AlN HP. It is a high-performance substrate made of aluminum nitride. The newly launched AlN HP substrate offers 40 percent more flexural strength compared to the previous generation of AlN substrates.
Morgan Advanced Materials is another leading player in advanced materials domain and caters to the needs of customers by providing innovative materials. It operates through two business divisions – thermal products and carbon and technical ceramics. The company offers advanced ceramics through carbon and technical ceramics business segment. It focuses on targeting new applications of advanced ceramics and it engaged in developing new solutions. For instance, In 2021, Morgan Advanced Ceramics partnered with Faraday Institution for 15 months. This partnership is particularly dedicated to investigate use of oxide ceramics to replace lithium-ion batteries. The company is taking initiatives to enhance its operational performance and to improve profitability.
Related Reports:
Advanced Ceramics Market by Material (Alumina, Zirconia, Titanate, Silicon Carbide), Application, End-Use Industry (Electrical & Electronics, Transportation, Medical, Defense & Security, Environmental, Chemical) and Region - Global Forecast to 2027
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