DELRAY BEACH, Fla., Sept. 26, 2024 /PRNewswire/ -- The report "Technical Ceramics Market by Material (Oxide, Non-Oxide), Product Type (Monolithic Ceramics, Ceramic Matrix Composites, Ceramic Coatings), End-Use Industry (Electronics, Automotive, Energy & Power, Medical, Military), & Region - Global Forecast to 2029", technical ceramics market size is projected to grow from USD 12.2 billion in 2024 to USD 17.5 billion by 2029, registering a CAGR of 7.4% during the forecast period. Technical ceramic products can withstand very high temperatures and corrosive environments. Technical ceramics, because of their superior and multifaceted properties, are being extensively researched and developed. The major driver for the market is the growing demand for technical ceramics in the medical end-use industry. These ceramics offer superior properties in a corrosive environment for applications such as bone replacement.
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Non-oxide ceramics, by material, is expected to be the second largest segment during the forecast period.
Non-oxide ceramic materials have very good thermal conductivity, excellent thermal shock and corrosion resistance, making it suitable for use in power electronics, aeronautical systems, railways, opto-electronics, semiconductor processing, microwave, and military applications. Currently, high-quality technical grade ceramics with superior mechanical properties are available for use in abrasives, refractories, ceramics, and many high-performance applications. These materials can also function as an electrical conductor and has applications in resistance heating, flame igniters, and electronic components. Structural and wear applications are constantly developing and will come into operation in the near future.
Automotive industry is anticipated to be the second largest-growing segment, by end-use industry, during the forecast period.
In the automotive industry, technical ceramics are used in heat shield, break disks, and exhaust heat management systems. The use of lightweight technical ceramics enables weight saving in vehicles, which results in improvement in comfort and drivability. The automotive industry uses technical ceramics owing to their superior dimensional stability, strength, stiffness, and chemical resistance in a wide range of temperatures.
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South America is expected to be the second fastest-growing region in the global technical ceramics market, by region, during the forecast period.
South America is one of the emerging markets globally and provides significant opportunities for technical ceramics manufacturers. This region includes the countries such as Brazil, Argentina, and rest of South America. The market in this region is estimated to grow at a high CAGR during the forecast period. This growth will be mainly observed in the building & construction industry. Steady recovery in the South American economy is expected to drive the technical ceramics market owing to the growing electronics & semiconductor, automotive, and medical industries during the forecast period.
Key Players
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the technical ceramics market. These are as Coorstek Inc. (US), Kyocera Corporation (Japan), CeramTec (Germany), Morgan Advanced Ceramics (UK), Saint-Gobain Performance Ceramics & Refractories (France), 3M (US), Niterra Co., Ltd. (Japan), AGC Ceramics (Japan) Paul Rauschert GmbH & Co. KG. (Germany), Elan Technology (US), Oerlikon (Switzerland).
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