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The global ceramics market size is prognosticated to reach a value of USD 219.12 billion by 2028. Fortune Business Insights™ in its report, titled, “Ceramics Market Size, Share & COVID-19 Impact Analysis, By Type (Traditional, Advanced), By Application (Tiles, Sanitary Wares, Abrasives, Pottery, Bricks & Pipes, Others), By End-Use Industry (Building & Construction, Industrial, Medical, Others) and Regional Forecast, 2021-2028.” Observes that the market size stood at USD 123.08 billion in 2020, exhibiting a CAGR of 7.7% during 2021 and 2028. Rising demand for ceramics from the automotive and medical industries is expected to boost the market's growth.
Development of ROCAR® 3D by CeramTec to Bolster Growth
In February 2021, CeramTec, a leader and manufacturer of advanced ceramic components, announced the launch of a new 3D printing process named ROCAR® 3D. The innovative 3D printing process will be used to produce construction elements made from technical ceramic materials. The process is speedy, cost-effective, and efficient. As a result, it's most suited in the creation and manufacturing of prototypes or components, starting with batch size 1 in plant and mechanical engineering. Simultaneously, 3D printing is being employed in a growing number of industrial applications, which, in turn, can augment the market growth.
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Increasing Demand from Electrical Sector to Promote Market Growth
A major factor boosting the ceramics market growth is the rise in consumption of electrical ceramics, further attributed to the low thermal conductivity and insulating properties of ceramic substances. Besides this, these are used to make casts and splints for treating fracture issues and dental porcelain by dentists, surgical bone implants, tooth replacements, and others. Thus, their demand from the medical industry is also expected to help increase the overall market size in the forthcoming years.
Key Strategies Adopted by Vendors – Enriching Geographical Expansion
Players are adopting major strategies to expand their geographical reach. The key companies are launching new electronic products to gain a competitive edge in the market. Moreover, Saint Gobain, Morgan Advanced Materials, and Murata Manufacturing Co. Ltd. are major participants in the market. The emergence of new companies in Europe and Asia Pacific can incite the growth of the market.
September 2019: Kyocera and Ube Industries, Ltd. signed a Kyocera-Ube RF TEC Corporation contract to produce ceramic filters for 5G base stations. In this agreement, Kyocera acquired 51% shares of Ube Electronics, Ltd., a subsidiary of Ube Industries. Under this agreement, Kyocera's global manufacturing expertise and sales network of ceramic components and Ube Electronics’ filter design technology will be used to serve the rising demand for components by expanding 5G technology.
The Report Lists the Key Companies in the Market:
Further Report Findings:
Table of Segmentation:
Value (USD Billion)
Type; Application; End-Use Industry; and Geography
By End-Use Industry