The
ceramics market is expected to grow by USD 108.7 billion
during 2020-2024, according to the latest market research report by Technavio.
There is an increase in the demand for lightweight and
high-performance materials from various end-user industries. In the aerospace
and defense industry, lightweight and high-performance materials are used to
minimize CO2 emissions. These advanced materials can be used in various
industrial applications to gain benefits from their energy-saving and
wear-resistance properties. They are preferred in high-friction applications as
thermally conductive materials. These materials are used extensively in the aerospace
and defense, and automobiles industries. Among the various types of
high-performance materials, ceramics are the most preferred owing to their
properties such as high temperature resistance, thermal shock resistance, and
non-conductive nature. The global ceramics market is driven by the need for
less energy and low labor costs.
As per Technavio, the development of advanced ceramics will have
a positive impact on the market and contribute to its growth significantly over
the forecast period. This research report also analyzes other significant
trends and market drivers that will influence market growth over 2020-2024.
Ceramics Market: Development of Advanced Ceramics
The market is witnessing the development of advanced ceramics
that are formed using special compositions and microstructures, followed by
successive stages of production processing. They contain only a small fraction
of clay or none and are based on the materials, such as Oxides, Carbides, and
nitrides and borides of Al, Mg, Mn, Ni, Si, Ti, W, Zr, and other metal ions.
Advanced ceramics offer a high-performance, cost-effective substitute for
conventional materials such as metals, glass, wood, and plastic. These
materials exhibit a wide array of properties, such as resistance to corrosion,
stretching, bending, and high temperature. Also, they exhibit biocompatibility,
chemical inertness, hardness, physical stability, and other electrical
properties. Thus, the development of advanced ceramics is expected to drive the
growth of the market during the forecast period.
Ceramics
Market: Segmentation Analysis
This market research report segments the ceramics market by application (wall
and floor tiles, refractories, abrasives, others and bricks, roof tiles, and
pipes), product type (traditional ceramics and advanced ceramics), end-user
(Housing and construction, industrial, medical and others), and geography
(APAC, Europe, MEA, North America and South America).
The APAC region led the ceramics market in 2019, followed by
Europe, South America, MEA and North America. During the forecast period, the
APAC region is expected to register the highest incremental growth due to the
increased demand from various industries in emerging economies such as China
and India.
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