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Technical Ceramics Market Signifies Annualized Growth of 6.49% from2014-19: M&M

Published on 2015-02-04. Author : SpecialChem

The report, “Technical Ceramics Market by Material (Oxides, Non-oxides), by Product (Monolithic Ceramics, Ceramic Matrix composites, Ceramic Coatings, Others), by End-User Industry (Electronics, Automotive, Energy & Power, Others), and by Region - Trends & Forecasts to 2019” defines and segments the technical ceramics market with analysis and forecast of the market size.

Technical Ceramics Market is projected to reach $7,614.58 million by 2019, signifying firm annualized growth of 6.49% between 2014 and 2019.

Asia-Pacific – The biggest market of technical ceramics

The technical ceramics market in Asia-Pacific is one of the fastest-growing consumers across the globe and the trend is expected to continue in the near future. Asia-Pacific is the biggest market for technical ceramics, and accounted for a share of more than 39.74% of the total market share in terms of volume in 2013 which was majorly contributed by China. It is also estimated that China is the fastest-growing market of technical ceramics in the region owing to growing population, vast economies–developed as well as developing, favorable investment policies, and government initiatives to promote industrial growth.

Ceramic Matrix Composites – The fastest-growing product segment of technical ceramics

The ceramic matrix composites are the fastest growing product of technical ceramics. Asia-Pacific is currently the largest consumer of ceramic matrix composites, and accounted for a share of 16.93% of the total market size in 2013. Ceramic matrix composites allow OEMs (Original Equipment Manufacturers) to customize light-weight and high-temperature resisting composites for various end industries such as electronics, automotive, aerospace and military & defense.

Electronics industry – The largest market for technical ceramics

The electronics market is one of the largest end-user industries of technical ceramics and the trend is expected to continue in the near future. Asia-Pacific is the biggest market for electronics industry, and accounted for a share of more than 34.67% of the total market size in 2013. It is also estimated that China is the fastest-growing market of technical ceramics for electronics industry in the region.

The U.S. and China are at forefront of technical ceramics consumption, while Germany, France, Japan, and U.K. are other key markets for technical ceramics consumption. China is the key market in Asia-Pacific, consuming more than half of the demand for the technical ceramics, followed by Japan, South Korea, and India where consumption is growing at a steady rate. Increase in the consumption of technical ceramics for monolithic ceramics, ceramic matrix composites and ceramic coatings has been observed in Asia-Pacific due to continued industrialization and rise in the manufacturing sector of the region. Medical industry is projected to be the fastest-growing application segment followed by military & defence between 2014 and 2019. Technical ceramics market is expected to witness a slow growth due to the stagnant market at European economy.

About MarketsandMarkets

MarketsandMarkets is a global market research and consulting company based in the U.S. It publishes strategically analyzed market research reports and serves as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. M&M covers thirteen industry verticals, including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT.

Source: MarketsandMarkets

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