NEWARK, Nov. 16, 2022 (GLOBE NEWSWIRE) — Brainy Insights estimates that the $227.60 billion ceramic market in 2022 will grow to $369.93 billion by 2030. In just eight years, the ever-increasing demand for medical equipment from the healthcare sector, The growth of the construction sector and the growing demand for electronic devices for modern customers is expected to drive the growth of the market during the forecast period. Moreover, the increasing use of photovoltaic modules, wind turbines, and pollution control applications, along with the growing demand for clean technology, is also helping to boost the growth of the market.
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Key insight into the ceramics market
Asia Pacific represents the largest market size during the forecast period
The Asia Pacific region is expected to have the largest market share in the ceramics market. Key factors favoring the growth of the ceramics market in the Asia-Pacific region include increasing investments in electric vehicles, medical and electronics industries, the launch of 5G technology, and innovations in medical electronics. Moreover, greater adoption of stylish and soundproof interior materials in commercial buildings such as restaurants, malls, malls, and clubs is expected to drive the growth of the market. In addition, increasing urbanization and population and supportive government regulations in China and India are helping to boost market growth in this region.
The sanitary ware segment is expected to drive an increase in the ceramics market during the forecast period.
The sanitary ware segment accounted for the largest market share in 2022 and is expected to continue during the forecast period due to the increasing focus of the population of developing countries on proper hygiene and cleaning. Also, sanitary ware products made of ceramic are a suitable alternative to sanitary ware made of steel and fiber due to their superior properties, such as wear resistance, corrosion resistance, glossy surface, and availability in various colors. Moreover, by 2030, the tiles segment is likely to dominate the market due to the increase in construction activities in the commercial and residential sectors across the world.
The advanced chip market size will reach 134.32 billion in 2022
The advanced segment is expected to dominate the market during the forecast period due to the growing demand for defense equipment. Moreover, advanced ceramics display superior properties, such as chemical inertness, electrical conductivity, physical stability, and extreme heat resistance, compared to ordinary ceramics.
The building and construction sector is expected to dominate the market by 37.03% in 2030
The building and construction sector is expected to dominate the market in the coming years, due to the ever-increasing demand for building ceramics and building rehabilitation.
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Ceramic Market Scope:
|Growth momentum and compound annual growth rate||Acceleration at a compound annual growth rate of 6.26%|
|Market growth 2022-2030||369.93 billion US dollars|
|Market structure, market structure||Fragmented|
|Regional analysis||Asia Pacific, Europe, North America, South America, Middle East and Africa|
|market share performance||The Asia Pacific region has emerged as the largest market for the global ceramics market, with a 39.45% share of market revenue in 2022.|
|Competitive scene||Leading companies, competitive strategies, and the scope of consumer participation|
|Corporate profile||Corning Inc. Morgan Advanced Materials, Kyocera Corp. CeremTec. Murata Manufacturing Co., Ltd. Ltd. McDanel Advanced Ceramic Technologies, 3M, Saint Gobain, CoorsTek, Blasch Precision Ceramics Inc. Momentive Performance Materials Inc. Applied Ceramics Inc. , Materion Corporation, Caesar, Imerys Ceramics, Rauschert GmbH|
|Market dynamics||Key market analysis, market growth instigators and obstacles, fast-growing and slow-growing segments analysis, impact of COVID 19 and future consumer dynamics, market situation analysis for the forecast period.|
|Customization preview||If our report doesn’t include the data you’re looking for, you can reach out to our analysts and customize your segments.|
For example, in March 2021, Ceramtec vertically combined its manufacturing of progressive piezo ceramics for the assembly of ultrasonic transducers and sensors. With this integration, the company successfully provides a comprehensive service for fixed high power Langevin transducers with a complete service offering, including transducer manufacturing, design and development for various medical applications.
Driver: Rise in the construction industry:
The rise of the construction industry is expected to drive the growth of the ceramics industry. Due to the rapid spread of urbanization, more construction in both developed and developing countries is driving the growth of the market. The ever increasing number of government initiatives and spending on public infrastructure development and other construction related activities is expected to drive the growth of the market during the forecast period. Moreover, the construction sector is supported by reducing the time allowed to use technologies such as BIM (3D and 4D), 3D printing, laser scanning, and smart building systems. Also, tiles have become a style statement and are gradually being used in living rooms and bedrooms; They are mainly used in the manufacture of wall tiles and are gradually being used in elevation, exterior cladding, and wall cladding. These factors also help in boosting the growth of the market.
Restraint: Unavailability of High Standard Raw Materials at Reasonable Costs:
The process of manufacturing and using ceramics is very expensive, which hinders the growth of the market. Moreover, strict environmental laws and regulations, as well as price volatility, are also a limiting factor for market growth. Moreover, availability of substitutes, fluctuations in raw material prices, and high costs of switching from analog to digital printing technology are hampering the growth of the market. In addition, government regulations regarding carbon emissions in the production of ceramic tiles are also restraining the growth of the market. Apart from this, these ceramic materials are less customizable due to their higher hardness, strength, and creep resistance. This factor also hinders the growth of the market during the forecast period.
Opportunity: Expansion into End User Industries:
Growing demand from renewable energy and medical end-use industries is expected to drive the growth of the market. Moreover, the growing demand from the clean technology industry is also helping to boost the growth of the market. In addition, ceramics can be used to make electrical and mechanical components along with automotive components such as sensors, catalytic converter substrates, etc. Moreover, increasing demand for industrial ceramics due to increased demand from the automotive and medical industries is helping to boost the growth of the market. The increasing demand for electronic ceramics in the telecom industry is also driving the growth of the market. The increasing demand for the Internet and other related services worldwide is a driving factor for the growth of the market. Moreover, advanced ceramic is an ideal material for the carrier that carries and transports blood in diagnostic tools due to its biocompatibility.
Challenges: Strict Environmental Regulations:
Strict environmental regulations may restrict general use of a few modern ceramics, challenging market growth. The high cost of ceramics and advanced ceramics has been a concern for many companies. The expenses of ceramic fibers generally determine the prices of these ceramics. Moreover, slowdown in production of ceramic fibers is driving up silicon carbide prices and also dampens market growth. Also, government laws regarding carbon emissions in the production of ceramic tiles are restraining the growth of the market.
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Some of the major players operating in the ceramics market are:
• Corning Inc.
• Advanced Morgan Materials
• Kyocera Corp.
• Murata Manufacturing Co., Ltd.
• McDaniel Advanced Ceramic Technologies
• Blasch Precision Ceramics Inc.
• Momentive Performance Materials Inc.
• Applied Ceramics Company.
• Matirion Company
• Imerys Ceramics
• Rauschert GmbH
Covering the main sectors of the market:
• Bricks and pipes
• Sanitary ware
By end use:
• Construction of buildings
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Italy, Spain and Rest of Europe)
• Asia Pacific (China, Japan, India and the rest of Asia Pacific)
• South America (Brazil and the rest of South America)
• Middle East and Africa (UAE, South Africa, rest of the Middle East and Africa)
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About the report:
The market is analyzed on the basis of value (billion USD). All sectors worldwide, regional, and country were analyzed. The study includes an analysis of more than 30 countries for each part. The report analyzes the drivers, opportunities, restraints, and challenges to gain insight into the market. The study includes Porter’s five forces model, attractiveness analysis, product analysis, supply, demand, competitor position network analysis, distribution, and marketing channel analysis.
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