Technical ceramics, also known as industrial, fine, engineered, or advanced ceramics, are reinforced compounds characterized by excellent magnetic, thermal, electrical and optical properties. Due to these properties, the products have emerged as effective alternatives to high-performance plastics and steel in various applications.
The global technical ceramics market has been witnessing significant growth over the past few years on account of its superior properties including low thermal expansion, robustness, high-temperature stability, and superior electrical properties ranging from semiconductors to insulators and highly conductive materials which are being employed in a wide range of end-use industries such as automotive, transportation, power generation, process industries, aerospace, and military applications.
Various material types are employed in the aforementioned industries which mainly fall under oxide or the non-oxide categories. Oxide type accounted for the largest market share owing to their suitability in numerous applications. However, the non-oxide type is expected to be the fastest growing material type on account of their rising acceptance in industries including automotive and electronics & semiconductors.
The material is employed in structural applications such as armor, wear components, engines and cutting tools. Superior performance and high quality are key benefits of technical ceramics that drive their use in myriad applications.
Growth in this sector is from both new as well as traditional applications. Widespread use of the product for the manufacturing of heat engines in the automotive sector and other applications such as gas turbines, diesel components, electrochemical devices, industrial heat exchangers, and medical devices and implants, is expected to fuel growth over the forecast period.
However, factors such as high raw material price, the shift of various end-use industries from developed to developing regions coupled with rising production costs are expected to hinder industry growth over the next eight years.
CoorsTek Inc., Saint-Gobain, Superior Technical Ceramics, McDanel Advanced Ceramic Technologies are key companies, with an exceptional foothold in the U.S market. These companies account for a significant share and the trend is expected to continue over the next eight years. Targeting new markets and entering related industries is expected to enable manufacturers overcome the effects of the volatile economy, which in turn is expected to lead to diversified business portfolios.
Technological innovations aimed at the development of cost-effective manufacturing processes by companies are expected to remain critical success factors for industry growth over the forecast period. In October 2012, Morgan Advanced Materials developed a new ceramic membrane for water purification and filtration for use in industrial wastewater treatment processes.
In-depth report on global technical ceramics market by Grand View Research: