The global advanced ceramics market size is projected to reach USD 13.2 billion by 2026 from USD 10.3 billion in 2021, at a CAGR of 5.0% during the forecast period. Increasing demand for advanced ceramics in areas such as 5G connectivity, AI, IoT, and 3D printing technology is driving demand. This rise in demand is supported by the superior properties of ceramics to withstand corrosive, high-temperature, and hazardous chemical environments. The advanced ceramics market is also expected to benefit from the growing demand for replacement of metals and conventional materials in end use industries such as energy & power, automotive, electronics, and military & defense.
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The advanced ceramics are used mainly in electrical & electronics sector for manufacturing of electronics component, including capacitors, insulators, integrated circuit packages, piezoelectric components, transistor dielectrics, and other equipments. They are also used in production of diesel engine cam rollers, clutches, spark plugs, and others.
- In the electrical & electronics industry, the manufacturing and fabrication facilities of the electronics parts and components had been paused due to the unavailability of raw materials, logistics slowdown and reduced workforce. China is the largest producer and exporter of electronics components which goes into the fabrication of finished electronic goods. The production halted in china which forced other electronic manufacturers based in the US and Europe to hold the production of the finished goods temporarily, which affected the demand and supply of electronic goods in the global market. Decline in consumer footfalls in stores and sales of electronics appliances have faced sharp downfall along with shortage of workforce.
- Medical devices such as ventilators, thermal scanners, patient care systems, and related equipment will grow at a faster pace than others during the pandemic. Ventilators are critical devices in fight against Covid pandemic, which necessitates a quicker supply of raw materials such as plastics, adhesives, and elastomers, their proper and timely logistical support, and regulatory approvals. Diagnostic instruments & devices such as thermal scanners are equipment designed to diagnose and monitor medical conditions are also in greater demand due to their requirement in diagnosing initial onset of the disease.
Based on region, APAC is projected to grow the fastest in the advanced ceramics market during the forecast period.
APAC is projected to be the fastest-growing market for advanced ceramics. The rising population, increased demand for better electronics products, and changing lifestyle are driving the APAC advanced ceramics market. China is the largest market for advanced ceramics in the region. Rollout of 5G technology and innovations in medical electronics are expected to drive the consumption of advanced ceramics in the region. India and China are projected to be the fastest-growing markets in the region during the forecast period due to growing population, urbanization, technological advancements such as 5G, IoT, and supportive government regulations.
The recent COVID-19 pandemic has impacted the global healthcare and electrical & electronics industry as well as the economy of various economies. COVID-19 has led to rising concerns over hygiene, leading to an increased demand for PPE kits, gloves, masks, and drapes. Shortfalls in capacity have prompted healthcare facilities to boost and expand their infrastructure to meet the demands of an increasing patient inflow. The manufacturing and fabrication facilities of the electronics parts and components had been paused due to the unavailability of raw materials, logistics slowdown and reduced workforce. Decline in consumer footfalls in stores and sales of electronics appliances have faced sharp downfall along with shortage of workforce.
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