The demand for high-performance ceramics remains important in the healthcare and medical device industries, while transportation, chemicals, and defense and military are becoming significant end-use industries in the advanced ceramics market.
Market leaders are expected to introduce innovative products with unique material properties while controlling their lifetime cost of ownership to maintain a competitive advantage.
Traditional ceramics were known to have wide-ranging applications, however, their disadvantages and limitations led to the development of advanced ceramics. Like their traditional counterparts, high-performance ceramics are used in a wide variety of applications, and manufacturers continue to modify their properties to meet more specific end-user requirements.
|data points||Important statistics|
|Growth Rate (2016-2021)||3.9% CAGR|
|Projected growth rate (2022-2032)||5.4% CAGR|
|Expected market value (2022)||$62,341.6 million|
|Expected forecast value (2032)||$105,483.4 million|
Three quarters of high-performance ceramics are manufactured for the electrical and electronics industry
Advanced ceramics is a commonly used component in various industrial sectors such as construction, medical, aerospace and chemical. However, the electrical and electronics industry is among the leading industries using advanced ceramics and the type used in this field is known as electroceramics.
Almost 3/4 of the high-performance ceramics produced are electro-ceramics, as the electrical and electronics industry is gaining momentum worldwide.
Ongoing advances in electronics technology and growing demand for advanced consumer electronics devices are expected to drive manufacturers in the advanced ceramics market to introduce innovative features into their offerings.
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For example, higher wear resistance, pressure resistance, and high pressure and temperature resistance properties of advanced…