Ceramics Market Size Worth $407.72 Billion By 2025

The global ceramics market size is expected to reach USD 407.72 billion by 2025, according to a new report by Grand View Research, Inc. Advancement in 3D printing technology coupled with its rising application in dental implants is anticipated to drive the ceramics industry market growth.

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Emergence of 3D printing or additive manufacturing is the new prominence application area for advanced product segment of ceramics. The rising use of the technology in dental implants is anticipated to trigger the market growth for advanced ceramic materials such as alumina and zirconium. Alumina is anticipated to dominate the market space due to its excellent structural properties and compatibility with human tissues.

Soda ash, kaolin, clay, silica, and sand are key raw materials used in manufacturing of traditional ceramics. Raw materials and energy are the two largest elements in cost structure of ceramics manufacturing process. Raw materials constitute 22% of cost structure in ceramic production closely followed by energy, which accounts for 21%. Labor and overhead costs constitute 16% and 13%, respectively. Other costs include transport, distribution, and depreciation, which account for 28%.

However, rising scrutiny over energy usage and limiting carbon dioxide emission is forcing the vendors of the market to opt for sustainable energy sources. In addition, securing an inexpensive fuel supply in a volatile natural gas market is an important criterion for a company’s sustainability and competitiveness in the industry. On account of the unpredictable nature of natural gas prices, smaller companies primarily focus on looking into alternative fuel options or alternative technologies to manufacture ceramics.

Over the last few years, there has been significant increase in the use of ceramic materials for manufacturing implant devices. Superior properties of alumina and zirconium based ceramics such as toughness and strength together with low wear rates and bio-inert properties is projected to augment their demand in applications such as femoral heads for total hip replacements over the coming years.

Key players such as AGC Ceramics Co.,Ltd., Imerys Ceramics, Carbo Ceramics, Inc., 3M, Corning, and Kyocera Corporation are focusing on vigorous expansion strategies. These companies have either formed mergers or acquired regional vendors as part of their strategy to enhance their global footprint.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/ceramics-market

Further key findings from the report suggest:

  • In terms of revenue, traditional product held highest market share of 59.6% in 2018. The growth in this segment is attributed to increasing demand for manufacturing of tiles, bricks, and sanitary ware.
  • In terms of revenue, advanced product segment is projected to grow at CAGR of 9.1% over the forecast period. Rising popularity of the product in biomedical application is anticipated to boost the segment growth.
  • In terms of revenue, tiles application segment is projected to dominate the global industry. Rising prominence of premium tiles in luxurious projects is the key driver for the segment growth.
  • Asia Pacific was leading region with revenue share of 39.6% in 2018. The growth of the region is attributed to expansion of end-use industries in India and China.
  • In terms of revenue, North America region is projected to grow at a CAGR of 8.5% from 2019 to 2025.
  • Some of the key players present in the market are AGC Ceramics Co.,Ltd., Imerys Ceramics, Carbo Ceramics, Inc., 3M, Corning, and Kyocera Corporation. Vendors of the industry are focusing on customize services for applications such as bio ceramics, electronic devices, and many more.

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