Research and Markets has announced the addition of the “Advanced Ceramics Market – Forecasts from 2016 to 2021″ report to their offering.
Advanced Ceramics Market is projected to grow to US$104.854 billion by 2021, from US$63.112 billion in 2015, at a compound annual growth rate of 8.83%.
Advanced ceramicsare manufactured to overcome the limitations of the traditional ceramics and to cater the requirements of several industries that depend on the unique properties of technical ceramics. Advanced ceramics have a number of positive properties that include corrosion resistance, high temperature stability and toughness.
Increasing demand in applications such as energy efficiency, ballistics protection, environmental protection, among others are expected to fuel the market growth. Another factor positively impacting growth is increasing electronic device demand among consumers particularly in emerging economies of Asia Pacific including India and China.
Increasing R&D expenditure to comply with growing demand from new applications is also expected to boost the market growth over the forecast period. However, the advanced ceramics market faces many limitations such as component cost, consistent material properties, environmental impact and collection of long term data in finding applications in broader military and commercial use.
High demand for these ceramics in emerging markets such as India and China is projected to make APAC one of the fastest-growth markets. APAC also held the largest market share owing to favorable investment policies, and government initiatives to promote industrial growth.
Key industry players profiled as part of this section areLSP Ceramics, CeramTec, Elan Technology, Oerlikon Surface Solutions, Or tech Incorporated, Morgan Advanced Materials, CoorsTek, Kyocera Industrial Ceramics Corporation among others.