The North America advanced ceramics market was estimated at USD 16.539 billion in 2016. The market is expected to register a CAGR of 10.05% during 2018 to 2023 the forecast period. North America was the secondlargest market, accounting for around 27% of the global market share in 2017.
Increasing Demand from Medical Industry
Advanced ceramics are used in a wide range of medical devices, such as lithotripters and ultrasonic cleaners or in dental ceramics in the field of dentistry. Another major application of advanced ceramics is in bio ceramics, where it is used in artificial organ implants, especially hip joints. Replacement of chemotherapy with radioactive glass microspheres for liver cancer patients, ceramicbased orthodontic braces, biocompatible coatings, and advanced drug delivery systems for cardiovascular stents and other implantable medical devices, and composite layers for gene therapy are some other developing applications of advanced ceramics.
The rising prevalence of chronic diseases, coupled with the rapidly aging population worldwide, is set to increase the demand for medical implants. The global aging demographic is expected to increase to 600 million by 2020. The advances in medical technology, increasing population, specifically population above 65 years of age increases the demand for advanced ceramics in the medical industry.
Adoption of Advanced Ceramics in Electricals Electronics
Advanced ceramics reinforce the electronics industry; the average aircraft is packed with electronics. Gradually, these electrical components, such as sensors, antennas, capacitors, and resistors, are getting smaller and more capable. Therefore, this is a major area of development for advanced ceramics. As the electronics industry makes continuous remarkable progress and develops, the demand for advanced ceramics grows rapidly. Advanced ceramics have a widerange of electrical properties, including insulating, semiconducting, superconducting, piezoelectric, and magnetic. The production of cellular phones, portable computing devices, gaming systems, and other personal electronic devices will continue to spark the demand for semiconductors, capacitors, and other advanced ceramicscontaining electronic components. The growing electrical electronics industry is estimated to boost the demand for advanced ceramics over the forecast period.
United States to Dominate Market Growth
The United States finds extensive use for advanced ceramics, and the total market for advanced ceramics in the country is set to grow, due to properties, like high corrosion resistance, ability to withstand fluctuations in temperature, and being lightweight. Other desired qualities are substantial energyefficiency, environmental protection capabilities, higher lifetime operation costs, and the bestdesired performance. With the growing demand from various enduser industries, such as electrical electronics, automotive, medical, and chemical, amongst others, the market for advanced ceramics is projected to register at a high growth rate during the forecast period.
Key Developments in the Market
January 2017: Morgan Advanced Materials developed new materials for use in aerospace components.
January 2017: Momentive Performance Materials Inc. announced that it acquired the operating assets of Sea Lion Technology Inc.
Major Players: CERAMTEC AG, CORNING INC., COORSTEK, INC., SAINTGOBAIN CERAMIC MATERIALS, MOMENTIVE PERFORMANCE MATERIALS, amongst others.
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