Demand for Ceramic Cores Driven by North America
The global ceramic core market is expected to grow at a CAGR of 3.8% from 2018-2023.
The future of the global ceramic core market looks promising, according to a recent market report published by Lucintel, with opportunities in aerospace, industrial gas turbines and other markets. The global ceramic core market is expected to grow at a CAGR of 3.8% from 2018-2023. Major drivers for the market include growing demand for aero engine turbine blades and the ability of ceramic cores to fabricate complex turbine blade geometries.
In terms of material type, Lucintel forecasts that silica will remain the most prevalent material by value and volume. Silica is also expected to witness the highest growth over the forecast period due to performance benefits such as high strength and heat resistance.
Aerospace will remain the largest end use industry (by value and volume) for the ceramic core market. It is also expected to witness the highest growth over the forecast period due to its growing use in engine blade investment casting. North America is expected to remain the largest and fastest-growing market for ceramic cores due to increasing turbine blade manufacturing in the region.
Additional details are available at www.lucintel.com.