The global advanced ceramics market is projected to grow at a CAGR of 6.7% during the forecast period. The key factors that drive the market include rapid advancements and innovations in the transport sector. The key manufacturers operating in the transport industry such as GE Aviation, Rolls Royce among others are also widely adopting these advanced ceramics in the manufacturing of aircraft as well as automobiles. Additionally, the advanced ceramic manufacturing companies are also introducing various advanced products to curb the application of electromobility. This, in turn, is likely to drive the growth of the global advanced ceramics market over the forecast period.
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Further, the increased demand for light-weight, durable, and high heat resistant materials for the manufacturing of automobiles is also positively influencing the growth of the global advanced ceramics industry over the forecast period. Advanced ceramics in the transport industry is mainly used to form automotive bodies, chassis, and other components. Spark and glow plugs, parking distance control systems, oxygen sensors, PTC heaters, knocking sensors, and fuel injection systems are some other applications in which advanced ceramics are utilized. Thus, this wide adoption owing to the variety of properties possessed is likely to bolster the growth of the market over the forecast period.
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Global Advanced Ceramics Market – Segmentation
By Class Type
- Monolithic Ceramics
- Ceramic Matrix Composites
- Ceramic Coatings
By End-user Industry
- Electrical & Electronics
- Automotive
- Healthcare
- Defense & Security
- Others
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