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.
eramics 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.
Technavio's sample reports are free of charge and contain multiple
sections of the report, such as the market size and forecast, drivers,
challenges, trends, and more. Request a free sample report
No comments:
Post a Comment