LONDON--(BUSINESS WIRE)--The ceramics market is expected to grow by USD 108.7 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
There is an increase in the demand for lightweight and high-performance materials from various end-user industries. In the aerospace and defense industry, lightweight and high-performance materials are used to minimize CO2 emissions. These advanced materials can be used in various industrial applications to gain benefits from their energy-saving and wear-resistance properties. They are preferred in high-friction applications as thermally conductive materials. These materials are used extensively in the aerospace and defense, and automobiles industries. Among the various types of high-performance materials, ceramics are the most preferred owing to their properties such as high temperature resistance, thermal shock resistance, and non-conductive nature. The global ceramics market is driven by the need for less energy and low labor costs.
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As per Technavio, the development of advanced ceramics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Ceramics Market: Development of Advanced Ceramics
The market is witnessing the development of advanced ceramics that are formed using special compositions and microstructures, followed by successive stages of production processing. They contain only a small fraction of clay or none and are based on the materials, such as Oxides, Carbides, and nitrides and borides of Al, Mg, Mn, Ni, Si, Ti, W, Zr, and other metal ions. Advanced ceramics offer a high-performance, cost-effective substitute for conventional materials such as metals, glass, wood, and plastic. These materials exhibit a wide array of properties, such as resistance to corrosion, stretching, bending, and high temperature. Also, they exhibit biocompatibility, chemical inertness, hardness, physical stability, and other electrical properties. Thus, the development of advanced ceramics is expected to drive the growth of the market during the forecast period.
"Increasing use of ceramics in medical applications and the increased expenditure on R&D for environment-friendly products will have a positive impact on the growth of the ceramics market value during the forecast period," says a senior analyst at Technavio.
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Ceramics Market: Segmentation Analysis
This market research report segments the ceramics market by application (wall and floor tiles, refractories, abrasives, others and bricks, roof tiles, and pipes), product type (traditional ceramics and advanced ceramics), end-user (Housing and construction, industrial, medical and others), and geography (APAC, Europe, MEA, North America and South America).
The APAC region led the ceramics market in 2019, followed by Europe, South America, MEA and North America. During the forecast period, the APAC region is expected to register the highest incremental growth due to the increased demand from various industries in emerging economies such as China and India.
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Some of the key topics covered in the report include:
Application segmentation
- Wall and floor tiles
- Refractories
- Abrasives
- Others
- Bricks, roof tiles, and pipes
Product type segmentation
- Traditional ceramics
- Advanced Ceramics
End-user segmentation
- Housing and construction
- Industrial
- Medical
- Others
Geographic segmentation
- APAC
- Europe
- MEA
- North America
- South America
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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