February 24, 2024
Advanced Ceramics Market

Advanced Ceramics Power Sustainability In Automotive Industry To Drive The Global Advanced Ceramics Market Growth

The global advanced ceramics market is driven by rising demand for lightweight and durable materials in automotive industry. Advanced ceramics such as, alumina, zirconia and silicon carbide offer superior strength and reliability over conventional materials making them ideal substitutes in applications including engine components, sensors and catalysis. Advanced ceramics provide 20-30% weight savings in engines enabling improved fuel efficiency without compromising on performance.

Advanced structural and functional ceramics are increasingly being incorporated across diverse automotive systems and components. Ceramic brakes, seals, bearings and liners enhance longevity and wear-resistance of engines and transmissions. Ceramic sensors and fuel injectors withstand high-pressures and temperatures improving engine management. Ceramic coatings on turbochargers and manifolds maximise heat tolerance and reduce emissions. With heightened focus on sustainability, advanced ceramics play a vital role in designing lightweight, fuel-efficient electric vehicles as well.

The global advanced ceramics market is estimated to be valued at US$ 91617.4 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the advanced ceramics market is the growing adoption of 3D printing technology for ceramic components. 3D printing or additive manufacturing allows for complex ceramic part designs that were previously impossible to manufacture through conventional methods. This enables novel applications in areas such as medical implants with intricate channels and micropores for improved osseointegration. Leading automotive OEMs are leveraging 3D printing to develop stronger yet lightweight ceramic brake discs and engine components with optimized heat dissipation for high performance electric vehicles. The market is also witnessing a shift towards development of piezoelectric ceramic sensors for use in automotive cyber-physical systems to enable capabilities such as collision avoidance. Continuous advancements in materials science have facilitated production of multifunctional ceramic composites with tunable properties expanding use case across diverse industries.

Porter’s Analysis

Threat of new entrants: The advanced ceramics market has moderate threat of new entrants due to high capital requirements for R&D and manufacturing facilities.

Bargaining power of buyers: Buyers have moderate bargaining power due to presence of several established manufacturers.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power as there are substitute raw materials available.

Threat of new substitutes: Threat of substitutes is low as advanced ceramics have unique properties that are difficult to substitute.

Competitive rivalry: The market is competitive due to presence of large number of manufactures globally.

Key Takeaways

The Global Advanced Ceramics Market Size is expected to witness high growth. North America holds the major share of the advanced ceramics market due to presence of major players like 3M, COI Ceramics Inc., Corning Incorporated etc in the region.

Regional analysis: Advanced ceramics finds widespread application in electrical & electronics industry for uses such as capacitors, piezoelectric transducers etc. Asia Pacific is the fastest growing region owing to rapid industrialization and growth of end use industries in China and India.

Key players operating in the advanced ceramics market are 3M (Ceradyne Inc.), AGC Inc., Applied Ceramics, Blasch Precision Ceramics Inc., Ceramtec, COI Ceramics Inc., Coorstek Inc., Corning Incorporated, International Ceramics Inc., Kyocera Corporation, MARUWA Co. Ltd, Materion Corporation, McDanel Advanced Ceramic Technologies, Morgan Advanced Materials, Murata Manufacturing Co. Ltd, Rauschert GmbH, Saint-Gobain, Small Precision Tools Inc., Vesuvius, and Wonik QnC Corporation.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it