Technical Ceramics Market Size, Share & Trends Analysis Report By Raw Material, By Product (Monolithic Ceramics, Ceramic Coatings, Ceramic Matrix Composites), By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Technical Ceramics Market Size, Share & Trends Analysis Report By Raw Material, By Product (Monolithic Ceramics, Ceramic Coatings, Ceramic Matrix Composites), By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Technical Ceramics Market Growth & Trends

The global technical ceramics market size is expected to reach USD 145.14 billion by 2030, registering a CAGR of 5.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. Rising product need in various end-use industries owing to their cost effectiveness and increased life span, as opposed to their customary counterparts, is expected to positively impact the market over the forecast period.

Rising automobile demand among consumers, particularly in Asia Pacific countries including China and India, on account of rising disposable incomes and changing lifestyles, is expected to fuel product demand over the forecast period. In addition, rising product use as a substitute to plastics and metals in numerous high-performance applications, in the medical and automotive sectors, is expected to propel growth over the forecast years.

These products have been gaining acceptance over the past few years on account of growing awareness regarding their benefits such as biodegradability, durability, and high tensile strength. Rising environmental concerns, coupled with stringent regulations by governments in North America and Europe, are expected to further propel product demand over the next eight years.

The global industry is also expected to witness considerable growth over the next eight years owing to their increasing product use in the electronic & electricals industry. Rising electronic devices demand among consumers, most notably in the Asian continent, is expected to have a positive impact on the product demand over the forecast period.

The extensive use of coated machinery components, coupled with shifting preference among consumers to technical coatings and breakthroughs in deposition processes, are expected to open new market opportunities for the products over the forecast period. Key factors expected to challenge industry growth include regulatory as well as environmental issues, and competition from alternative materials.

Technical Ceramics Market Report Highlights

• The global technical ceramics market was valued at USD 94.87 billion in 2022 and is expected to grow at a CAGR of over 5.6% from 2023 to 2030
• Titanates are expected to be the fastest-growing segment during the forecast period, at a CAGR over 7.2% in terms of revenue, owing to their increasing use as capacitors.
• The monolithic ceramics segment accounted for the dominant revenue share of 84.0% in 2022. The product is employed in numerous insulation and lining applications, as they are resistant to thermal shock and can withstand tremendously high temperatures
• The bioceramics segment is expected to expand at the fastest CAGR of 8.4% over the forecast period and the segment is expected to grow at a fast pace over the next eight years, on account of its rising use in joint and hip replacements
• Medical segment is expected to register a growth rate of 6.7% over the forecast period, on account of Increasing need from this industry in various applications, such as dental implants and bone & tissue replacements

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