Allied Market Research published a report, titled, Advanced Ceramics Market by Material (Alumina, Titanate, Zirconate, Ferrite, Aluminum Nitride, Boron Carbide, Silicon Nitride, Silicon Carbide and Others), Type (Monolithic Ceramics, Ceramic Matrix Composites, Ceramic Coatings and Others), and End-Use Industry (Electrical and Electronics Chemical Others, Transportation, Medical, Defense and Security, Chemical and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033 . According to the report, the advanced ceramics market was valued at $47.2 billion in 2023, and is estimated to reach $74.8 billion by 2033, growing at a CAGR of 4.8% from 2024 to 2033.
Prime determinants of growth
The global advanced ceramics market is experiencing growth due to increase in demand for durable and high-performance materials in electronics, automotive, aerospace, and healthcare industries. However, high production costs associated with advanced ceramics hinder the market growth to some extent. Moreover, the increase in focus on renewable energy sources, such as wind and solar power presents additional opportunities for the advanced ceramics market.
Report coverage and details:
Report Coverage
