Global Advanced Ceramics Market to Reach US$88.7 Billion by the Year 2026

Growth in the global market is expected to be driven primarily by the increasing demand for these materials in the medical, space, and automotive industries. Zirconia ceramics are extensively used in the medical sector, owing to their aesthetic, biological, and physical properties. This would offer tremendous opportunity for these materials to drive a surge in demand for endosseous implants, implant abutments, and artificial bones. In the automotive sector, advanced ceramic materials are witnessing increased consumption in battery components, attributed to their electrical and thermal properties. The rapid evolution of the technical ceramics industry and the resulting need for organic growth is driving companies to collaborate with universities and startups to develop more advanced and innovative materials. In addition to their use in energy and environment technology applications, technical ceramics would find use in Industry 4.0, IoT and AI. Demand for advanced ceramics continues to be dictated by the manufacturing sector as the materials are widely used in the production of a range of products including industrial machinery, motor vehicles, electrical equipment, aircrafts and electronic components, among others.

Amid the COVID-19 crisis, the global market for Advanced Ceramics estimated at US$61.2 Billion in the year 2020, is projected to reach a revised size of US$88.7 Billion by 2026, growing at a CAGR of 6.3% over the analysis period. Monolithic Ceramics, one of the segments analyzed in the report, is projected to grow at a 6.1% CAGR to reach US$71.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Coatings segment is readjusted to a revised 6.6% CAGR for the next 7-year period. This segment currently accounts for a 14.7% share of the global Advanced Ceramics market. Growth in the Monolithic Ceramics segment is driven by improving demand from major end-user industries such as automotive, defense, power and electrical and electronics. These ceramics find use in making sensors, security systems, and engine components in the transportation sector owing to attributes such as high temperature resistance. Demand for ceramic coatings is expected to be fueled by growth in the production of aerospace equipment and revival in the motor vehicles production.

The U.S. Market is Estimated at $17.3 Billion in 2021, While China is Forecast to Reach $29.4 Billion by 2026

The Advanced Ceramics market in the U.S. is estimated at US$17.3 Billion in the year 2021. The country currently accounts for a 26.84% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$29.4 Billion in the year 2026 trailing a CAGR of 7.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.7% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR while Rest of European market (as defined in the study) will reach US$31.6 Billion by the end of the analysis period. The US is the leading developer and producer of Ceramic Matrix Composites (CMCs) and other ceramics utilized in heavy-load applications, supported mostly by NASA and Department of Defense (DoD) funding. Advanced ceramic applications in lightweight body armor, infrared missile domes, aircraft engines, and various space applications are likely to lay the growth foundation for advanced ceramics in developed markets. In Europe, with implementation of Euro 6C legislation, demand for filters used in heavy-duty diesel engine exhausts continues to witness strong growth. In addition, low-emission zones established in various European cities, translates to additional sales of ceramic exhaust filters. Growing demand from electronics, medical, and automobile sectors contribute to the market`s growth in Asia-Pacific.

Matrix Composites to Reach $7.8 Billion by 2026

Ceramic matrix composites (CMCs) which include ceramic matrix with any fiber reinforcement have emerged as an ideal solution to combat the issue of brittleness. Growth in the segment is led by growing demand for high performance and lightweight materials from a number of end-use industries. In the global Matrix Composites segment, USA, Canada, Japan, China and Europe will drive the 7.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$4.1 Billion in the year 2020 will reach a projected size of US$7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$990.1 Million by the year 2026, while Latin America will expand at a 7.9% CAGR through the analysis period.