Advanced Ceramics Market: By Product Type (Ceramic Coatings, Monolithic Ceramics, and Ceramic Matrix Composites), By Material Type (Titanate, Alumina, Zirconia, Aluminium Nitride, Ferrite, Magnesium Silicate, Silicon Nitride, Silicon Carbide, Cubic Boron Nitride (CBN), and Others), By Application (Electronic Devices, Catalyst Supports, Engine Parts, Electrical Equipment, Bioceramics, Wear Parts, Filters, and Other Applications), By End Use industry (Automotive, Electrical & Electronics, Machinery, Energy, Medical, Military, and Others), and Geography

Advanced Ceramics Market size was valued at USD 56,376.3 Million in 2023 and is anticipated to grow at a CAGR of 5.8% over 2024-2030. The advanced ceramics market refers to the global industry involved in the production, distribution, and utilization of advanced ceramics also known as technical ceramics. These are a class of materials that exhibit superior mechanical, thermal, electrical, and chemical properties compared to traditional ceramics. These ceramics are designed for specialized and demanding applications in various industries, where conventional materials would not be appropriate owing to their drawbacks. Advanced ceramics are typically composed of inorganic materials such as oxides, carbides, nitrides, and borides. They are processed utilizing precise manufacturing techniques to achieve high purity, uniformity, and controlled microstructures. The advanced ceramics market is majorly driven by the increasing demand in electronics industry. With the rapid advancement in electronics and semiconductor technologies, there is a growing demand for advanced ceramics as substrates, insulators, and packaging materials in electronic devices. Their excellent electrical insulation properties, high thermal conductivity, and resistance to wear make them ideal for use in electronic components.

Moreover, the growth in the energy sector also contributes to the growth of the advanced ceramics market. The demand for advanced ceramics in the energy sector is rising due to their use in thermal barrier coatings for gas turbines, fuel cells, and heat exchangers. They improve energy efficiency, reduce emissions, and enable cleaner energy generation. Furthermore, advanced ceramics can be utilized in environmental applications such as filtration membranes, catalysts for pollution control, and water treatment systems which present potential opportunities for the growth of the advanced ceramics market. However, the high cost associated with the production process hinders the advanced ceramics market growth. Key manufacturers are announcing collaborations and launches of advanced and beneficial products to cater to different end-use industries. For example, in November 2022, Artemis Capital Partners acquired McDanel Advanced Ceramic Technologies to broaden its product portfolio.  

Advanced Ceramics Market Key Developments:

• In July 2021, Midlands Industrial Ceramics Group receives £18.27 million investment through UK Research and Innovation’s flagship Strength in Places Fund (SIPF), to power forward the region’s capabilities in advanced ceramics for transformative applications.
• In September 2021, Nanovis launched Bioceramic Nanotube-Enhanced pedicle screw system, Nano FortiFix, the only nanotechnology designated titanium-surfaced pedicle screw.