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. The increasing demand for advanced ceramics in electrical & electronics sector in areas such as 5G connectivity, AI, IoT, and 3D printing technology is driving demand. This rise in demand is backed 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 in the medical industry owing to their high strength and toughness with bio-inert properties and low wear rates. Developments in the field of nanotechnology, and renewable energy are presenting opportunities for the advanced ceramic market.
The increase in demand for advanced ceramics and the increasing demand for electronics in the emerging economies, such as APAC and South America, are driving the market. The key players in the advanced ceramics market include Kyocera Corporation (Japan), CeramTec (US), CoorsTek (US), Saint-Gobain Ceramic Materials (US), Morgan Advanced Materials (UK), and 3M (US). The advanced ceramics market report analyzes the key growth strategies, such as new product launches, expansions, joint ventures, agreements, partnerships, and mergers & acquisitions adopted by the leading market players between 2018 and 2021.
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Kyocera Corporation is a leading player in the advanced ceramics business. Its diversified product portfolio reduces its market risks. The company witnessed significant loss of revenue in the first three quarters of 2020 owing to the economic deterioration caused by the COVID-19 pandemic. The company has registered y-o-y decline of 8.1% in the first three quarters. The decline can be attributed to the declining demand from automotive, equipment, and systems market. This decline is partially offset by the rising demand for semiconductor, electronics, and 5G connectivity. Kyocera focuses on safety, performance, and high expenditure on R&D to provide customers with effective and efficient products. Investment and acquisition are among the key business strategies used by the company to strengthen its market position.
Morgan Advanced Materials is active in the material science domain and caters to the needs of customers by providing innovative materials. The company is taking initiatives to enhance its operational performance and improve profitability. It focuses on improving performances within existing business by undertaking innovation activities across its segments. It also emphasizes on development of customer-focused solutions that satisfies critical end-use requirements, hence is successful to build long-lasting relations with its customers.
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