North American Structural Ceramics Market to Grow 5%
The North American market for technical and advanced structural ceramics was valued at nearly $3.5 billion in 2011 and is expected to increase to $4.4 billion in 2016, a five-year compound annual growth rate (CAGR) of 5.1%, according to “Technical and Advanced Structural Ceramics,” a new report from BCC Research. The North American market for technical and advanced structural ceramics can be separated into six segments by application: bioceramics; advanced armor and military equipment; wear-, erosion-, and corrosion-resistant components; cutting tools and tool inserts; energy- and high-temperature-resistant components; and aircraft and aerospace equipment.
Bioceramics, the largest segment, accounted for nearly $2.2 billion in 2011. The segment is expected to increase at a CAGR of 5.2% to reach $2.8 billion in 2016. Advanced armor and military equipment accounted for $572 million in 2011 and is expected to reach $696 million in 2016, a CAGR of 4%. The segment made up of wear-, erosion-, and corrosion-resistant components accounted for $457 million in 2011 and is expected to reach $583 million in 2016, a CAGR of 5%. In 2011, the cutting tools and tool inserts segment was worth $141 million; in 2016, that value should reach $189 million, a CAGR of 6%. Energy- and high-temperature-resistant components is expected to increase from $93 million in 2011 to $124 million in 2016, a 5.9% CAGR. Aircraft and aerospace equipment is expected to rise from $15 million in 2011 to $17 million in 2016, a 2.5% CAGR.
Advanced structural ceramics have the potential to resolve many materials-based challenges in process industry, power generation, aerospace, transportation and military applications. Their wear resistance, corrosion resistance, high-temperature resistance, and lightweight properties represent a superior combination of qualities. These materials may help to decrease energy consumption and minimize pollution.
For more information, visit www.bccresearch.com.