Advanced Ceramics Market Trends

Growth Drivers

• Increasing Product Adoption in the Automotive Industry – Ceramic is used as a substitute for metals and plastics in the automotive industry to reduce the weight of the vehicle and promote fuel efficiency. For instance, as per the estimations, the use of ceramics in fuel injectors reduces fuel consumption and emissions of pollutants by 80% and is projected to achieve 78 miles per gallon by 2025.
• Elevating Demand in Military – Advanced ceramics are used in the defense sector to improve superior armor performance. The use of 10% zirconia-toughened alumina (ZTA) over monolithic AL2O3 with Al enhanced the multi-hit capability of armor.
• Escalating Demand for Zirconia in the Medical Industries – Zirconia is used in the medical industry in the dental field on account of its strength and low fracture rate. For instance, the frameworks of zirconia-based fixed dental prostheses (FDPs) exhibit a very low fracture rate i.e., between 0%-5%.
• Rising Demand for Implants Abutments, Artificial Bones, and Endosseous Implants – For instance, as per the observations, every year over 1 million dental implants and replacement of more than 5,00,000 artificial hips and knees take place in the U.S.
• Rising Demand for Modern Consumer Electronic Appliances – The average index for industrial production of modern consumer electronic appliances such as computers, electronic and optical products as per the estimations rose by over 11% and reached 100 during 2021-2022.

Challenges

• High Prices of Advanced Ceramics - Advanced ceramics are more expensive than metals and alloys. The high pricing is owing to their costly manufacturing process, which involves raw material processing, forming, melting, diamond grinding, and inspection. This approach necessitates the use of various technology and pricey stones, which raises the product cost, and also increases the overall price of the product. Therefore, this factor is estimated to hinder the market growth over the anticipated time frame.
• Requirement of Expensive Machinery and Stones
• Disruption in Electronic and Automotive Industries