Advanced Ceramics Market Forecast and Segments, 2014-2020
Advanced ceramics are manufactured to cater the requirements of several industries that depend on the unique properties of technical ceramics such as electronics and aerospace. Advanced ceramics are developed to overcome the limitations of the traditional ceramics as well as to develop value added properties. Advanced ceramics exhibit properties such as corrosion resistance, high temperature stability and toughness which are required for wide range of applications such as energy efficiency, ballistics protection, environmental protection, performance and lifetime operating cost.
Advanced ceramics, the product of the advanced ceramics market are widely used for military applications however; the advanced ceramics market faces many challenges such as component cost, consistent material properties, environmental impact and collection of long term data in finding applications in broader military and commercial use. However, extensive research is being carried out by leading companies for finding new applications for advanced ceramics market. With the advent of new application the advanced ceramics market will witness further growth.
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Majority of the advanced ceramics manufactured in the advanced ceramics market are consumed for electronic applications and they are called as electroceramics. Electroceramics accounted for more than three fourth of the total advanced ceramics manufactured in the advanced ceramics market. Growing electronics market has led to the use of alternative materials, one of which is advanced ceramics, thus increasing the demand from the advanced ceramic market. Thus, the developing electronic market is expected to boost the growth of the overall advanced ceramics market. Medical products are significant consumers of advanced ceramics market due to its increasing use in manufacturing joint implants and in-dental procedures. Medical products market is expected to be the fastest growing consumer of advanced ceramics market over the next few years. The growing demand for high pressure and high temperature environment has further augmented the growth of the advanced ceramics market as advanced ceramics are known to offer greater wear resistance and compressive strength just as the metals can provide. Overall the increase in demand of the electronics coupled with growing demand for high temperature environment will augment the demand for the advanced ceramics market.
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Companies such as Kyocera Corp, Murata Manufacturing Co. Ltd, Corning Inc., Coors Tek, Morgan Advanced Materials, Ceram Tec. and Ceradyne Inc. are the key participants of advanced ceramics market.
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