Technical Ceramics Market to See Strong Growth
The global technical ceramics market is expected to grow at a CAGR of 6.37%.
According to a recent market study by Technavio, the global technical ceramics market is expected to grow at a compound annual growth rate (CAGR) of 6.37% from 2016-2020. As of 2015, Asia-Pacific held the largest market, at around 37.7%, and is anticipated to grow at a CAGR of around 7% during 2016-2020. The market growth is attributable to an increase in industrialization and urbanization in China and India. In addition, the rise in the disposable incomes of individuals in these countries has boosted the sales of automobiles, fostering the market for technical ceramics.
“China and its associated nations are a major hub for electronics products that consume technical ceramics due to its superior properties over metals and alloys,” said Chandrakumar Badala Jaganathan, lead analyst. “The major countries contributing to the growth of the technical ceramics market in APAC are China, Korea, Japan, and India.”
Monolithic ceramics are a major product type of technical ceramics, and this sector dominated the market with a share of around 64% in 2015. Monolithic ceramics offer characteristics such as reliability, durability, and protection against higher temperatures, which helps in increasing the lifespan of finished components. These ceramics can be fabricated without a reinforcement material and have a polycrystalline microstructure. Based on the microstructure, various types of monolithic ceramics are categorized into zirconium oxide, zirconium carbide, silicon nitride, and others. Industries such as automotive, aerospace, power generation, defense, transportation, electronics, machinery, and medical are the major end users of monolithic ceramics. Demand from the healthcare industry is driving the market for monolithic ceramics, as they are widely used in manufacturing medical devices and implants.
Ceramic matrix composites (CMCs) are manufactured from ceramic fibers that are embedded in the ceramic matrix. The fibrous materials include silicon carbide, aluminum oxide, carbon, and mulita. CMCs are classified based on fiber and matrix materials. They exhibit high strength and stiffness at a high temperature, chemical inertness, and low density.
“Ceramic matrix composites have high thermal shock resistance, which enables their use in high mechanical and thermal loads,” said Chandrakumar. “Their demand depends on the growth in the aerospace, defense, power and energy, electronics and electrical, biomedical, automotive, and marine industries.”
Ceramic coatings are inorganic materials comprising a large family of ceramic materials with diversified composites and properties. Oxide, carbide, and aluminum nitride coatings are the different types of ceramic coatings. These coatings are used for wear-, high-temperature-, and corrosion-resistant applications. Ceramic coatings find applications in various end-use industries, such as transportation and automotive, energy, aerospace and defense, healthcare, and industrial goods. The most widely used processes for applying ceramic coatings are physical vapor deposition (PVD), chemical vapor deposition (CVD), and thermal spraying. Growing plasma sprayed coatings in semiconductors and liquid crystal display (LCD) equipment are driving the market for ceramic coatings. Recent technological developments are enabling the creation of thin ceramic coatings on metals, thereby driving market growth.
The others segment includes multilayer ceramics and advanced coatings. These products are mainly used in the automotive, biomedical, and energy and power industries. This segment accounted for a share of around 6.8% of the global technical ceramics market in 2015. The market for technical ceramics in this segment is still in the nascent stage. Growing demand for lightweight and durable components in the biomedical, marine and automotive industries is expected to drive the segment’s growth.
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