Industrial Ceramics Market Expected to Reach $12 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Industrial Ceramics Market," The Industrial Ceramics Market Size was valued at $6.7 billion in 2021, and is estimated to reach $12 billion by 2031, growing at a CAGR of 5.9% from 2022 to 2031. Industrial ceramics can be defined as inorganic, nonmetallic materials with properties such as high strength and hardness, high melting temperatures, chemical inertness, and low thermal and electrical conductivity.

One of the main factors propelling the industrial ceramics market growth is the increase in substitution of metal and plastic products with industrial ceramic products. Increased hardness, high wear resistance, high compressive strength, tremendous electrical resistance, and strong corrosion resistance of the material are all improved by industrial ceramics. Some ceramics, such as silicon carbide produced by chemical vapors deposition (CVD), offer added advantages by allowing for both some electrical conductivity and a comparatively high heat conductivity.

In addition, the use of advanced ceramics is predicted to become more prevalent in a variety of end users, including automotive, power & energy, as well as the expanding telecom and medical sectors throughout the course of the projection period. In addition, the surge in the need for durable and dependable products in the automotive industry, has increased the use of industrial ceramics in automotive manufacturing processes. Ceramic products can be employed in a variety of sensors, mechanical seals, ceramic bearings, and valves because of their advantageous thermal and electrical qualities. The industrial ceramics market forecast period is driven by these factors.

Moreover, key market players are focused on product launch. For instance, Ceram Tec introduced its new AIN (aluminum nitride) HP in 2022, a high-performance substrate that is perfect for power converters due to its superior thermal conductivity. And, in February 2021, Ceram Tec launched a new 3D printing process named ROCAR 3D to produce construction elements made from technical ceramic materials. This process is a fast, cost-effective 3D printing process. Furthermore, advanced ceramics exhibit substantially lower thermal expansion under the same environmental conditions as other standard alloys and metals. This aspect has affected how industrial ceramics are used in different end-use industries, including the power and energy sectors. Therefore, a material like this can fuel the market growth for industrial ceramics market share.

Industrial ceramics are restricted by a variety of technical limitations, including insufficient tensile strength, component shape, dependability, and dimensional tolerances. Furthermore, modern ceramics are difficult to process using conventional machining methods like turning, milling, and drilling because of cracks, brittle fractures, and edge chipping, due to their great strength and resistance to creep. As a result, this factor restricts the growth of the industrial ceramics industry.

However, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering the growth of the industrial ceramics market. However, this situation is expected to improve as governments across the globe are relaxing norms around the world for resuming business activities.

The industrial ceramic market is segmented on the basis of material type, product type, end user, and region. Based on material type, the market is divided into oxide and non-oxide. Based on product type, the market is divided into composite ceramics and monolithic ceramics. Based on end user, the market is divided into automotive & aerospace, energy & power, and Other (Military & Defense, Medical). Region wise, the global industrial ceramic market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

The Major Players Profiled in the Industrial Ceramic Market Include

Kyocera, Anderman Industrial Ceramics, Elan Technology, Khyati Ceramics, Industrial Ceramic Products, Inc., AGC Ceramics Co., Ltd., Carborundum Universal Limited, CM Cera Co Ltd., LSP Industrial Ceramics, Inc., Schaefer Industrial Ceramic. Major companies in the market have adopted acquisition, product launch and business expansion as their key developmental strategies to offer better products and services to customers in the industrial ceramic market. Furthermore, the report highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.

Key Benefits For Stakeholders

• The study provides an in-depth analysis of the market with current and future trends to elucidate the imminent investment pockets.
• Information regarding key drivers, restraints, and opportunities along with their impact analysis on the market is provided in the report.
• Porter's Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of the Industrial Ceramics Market from 2021-2031 is provided to determine the market potential.
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the industrial ceramics market analysis from 2021 to 2031 to identify the prevailing industrial ceramics market forecast and opportunities.