Advanced Ceramics Market worth $9.5 Billion by 2020

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Advanced Ceramics market is projected to register a market size in terms of value of $9.5 Billion by 2020, signifying firm annualized growth of 7% between 2015 and 2020.

Asia-Pacific – The biggest market for advanced ceramics

The advanced ceramics market in Asia-Pacific is projected to register one of the fastest-growth mainly due to the presence of emerging economies such as China and India as well as emerging activities in the electronics, transportation, energy, and industrial sectors. Asia-Pacific is the biggest market for advanced ceramics, and accounted for a share of around 40% of the global market share in terms of value in 2014 which was majorly contributed by China. It is also estimated that China is the fastest-growing market for advanced ceramics in the region owing to growing population, vast economies–developed as well as developing, favorable investment policies, and government initiatives to promote industrial growth.

Advanced Ceramic Coatings – The fastest-growing product segment of advanced ceramics

The advanced ceramic coatings are the fastest growing product of advanced ceramics. Asia-Pacific and North America are currently the largest consumers of ceramic coatings, and accounted for a share of about 15% of the total market size in 2014. Ceramic matrix composites offer better corrosion resistance than other metals that offers decreased maintenance and costs for various end industries such as electronics, automotive, aerospace and military & defence.

Electronics industry – The largest market for advanced ceramics

The electronics industry is one of the largest end-user industries of advanced ceramics and this trend is projected to continue in the near future. Asia-Pacific is the biggest market for electronics industry, and accounted for a share of more than 40% of the total market size in 2014. It is also estimated that China followed by Japan, South Korea, and India are the fast-growing markets of advanced ceramics for electronics industry in the region.

The U.S. and China are at forefront of advanced ceramics consumption, while Germany, France, Japan, and U.K. are other key markets for advanced ceramics consumption. China is the key market in Asia-Pacific, consuming more than half of the demand for the advanced ceramics, followed by Japan, South Korea, and India where consumption is growing at a steady rate. Increase in the consumption of advanced ceramics for monolithic ceramics, ceramic matrix composites and ceramic coatings have been observed in Asia-Pacific due to continued industrialization and rise in the manufacturing sector of the region. Medical industry is projected to be the fastest-growing application segment followed by military & defence between 2015 and 2020.

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