New York (US), July 19, 2023 (GLOBE NEWSWIRE) -- Porous Ceramics Market Overview
The study papers by MRFR imply that in the “Porous Ceramics Market Research Report Information by Raw Material, Region, Product, and Application - Forecast Till 2032”, the Porous Ceramics market is forecast to cultivate considerably over the valuation period from 2022 to 2032 at a substantial CAGR of nearly 10.90%. The study papers even offer predictions related to the global market's expanding revenue numbers, which will likely attain a market of USD 15.0 Billion by the end of 2032. As per the reports, the market was valued at nearly USD 5.9 Billion in 2022.
Due to its numerous uses in sectors including filtration, catalysis, and thermal management, the porous ceramic industry is expanding steadily. Porous ceramics are appropriate for a variety of industrial processes because of their high-temperature stability, chemical resistance, and regulated porosity. The market is anticipated to grow further as a result of improvements in production processes and rising consumer demand for eco-friendly products.
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Competitive Analysis
The listing of the prominent participants across the global Market for Porous Ceramics incorporates players such as:
- Kyocera Corp.
- Applied Materials, Inc.
- Nishimura Advanced Ceramics Co., Ltd.
- CoorsTek, Inc.
- STC Superior Technical Ceramics
- Innovacera
- NGK Spark Plug Co., Ltd.
- KeraNor AS
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 15.0 Billion |
| CAGR | 10.90% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Raw Material, Product, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | The growing demand for filtration products coupled with the increasing penetration of products in medical devices and equipment and growing demand for electronic devices |
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Market U.S.P. Covered
Market Drivers
The global Porous Ceramics industry has progressed extremely in recent years. The primary parameters causing a surge in market performance are the growing demand for filtration products, rising demand for electronic devices, increasing use of medical equipment & gadgets, and strong economic & technological environments.
Market Restraints
On the other hand, several parameters may have an adverse impact on the development of the global market for Porous Ceramics. One of the primary parameters restricting the advancement of the market's performance of the global market is the high prices associated with raw materials.
COVID-19 Impact
The global health crisis of COVID-19 has affected more than 200 countries around the world. The pandemic severely impacted the majority of the industry sectors as it led to several governments imposing partial or complete lockdowns across the majority parts of the world. The shortage of labor, disruption in the supply chain network, shortage of raw materials, and fluctuation in the prices of transport choices have caused a major revenue loss in the global market for Porous Ceramics. However, the rapid expansion in the population and fast vaccination rates around the globe is anticipated to positively affect the development of the global market for Porous Ceramics over the coming years.
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Segment Analysis
Among all the raw materials, the alumina ceramics segment ensured the top spot across the global market for porous ceramics in 2022. Aluminum oxide, also called alumina, is being utilized more regularly as an advanced ceramic material due to its brilliant electrical insulating qualities. Alumina is also specifically beneficial for pump components, electronics, and automobile sensors as it is resistant to wear and corrosion.
Among all the products, the filtration segment ensured the top spot across the global market for porous ceramics in 2022. Under normal or even harsh temperature and pressure circumstances, filters made with porous ceramic help eradicate particles from the air and liquids. They are utilized in a range of sectors, including the food, pharmaceutical, and chemical industries. Therefore, it is projected that product demand will boost over the coming years with the growing requirement for filtration.
Among all the application areas, the automotive segment ensured the top spot across the global market for porous ceramics in 2022. Because of brilliant characteristics, such as high thermal stability, abrasion resistance, chemical stability, and mechanical strength, porous ceramics are widely employed in the automotive industry. Over the coming years, the growing investments in the automotive sector, especially those aimed at developing Electric Vehicles (EVs), are also likely to influence the market segment's growth positively.
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Regional Analysis
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World.
The study papers by MRFR imply that The Asia-pacific Region ensured the central position across the global Porous Ceramics industry in 2022 with a maximum contribution of nearly 45.80%. The regional market will display the maximum expansion rate over the assessment era. The region is known for the presence of vital expansion contributors such as India, China, and Indonesia. The main parameter supporting regional market expansion is rapid industrialization across the region. Furthermore, the stringent regulations imposed by governments of various nations to uphold environmental standards are also believed to be one of the crucial parameters enhancing the development of the regional market.
The North American Region ensured a substantial place across the global Porous Ceramics industry in 2022. The region is known for the presence of vital expansion contributors such as Mexico, the U.S., and Canada. The main aspect backing the expansion of the regional Porous Ceramics market is the number of government programs to promote sustainable development across the region. Furthermore, technical developments like the utilization of nanotechnology in the filtration process are also believed to be one of the crucial parameters enhancing regional market development.
The European Region projects ensuring the second spot across the global Porous Ceramics industry over the coming years. The region is known for the presence of vital expansion contributors such as France, Germany, and the U.K. The region's main parameter supporting regional market expansion is the growing trend of lightweight materials replacing automotive metal components with ceramic-based components, such as braking pads and spark plugs. Furthermore, the rapidly growing automotive sector, coupled with the increasing disposable income across the region, is also believed to be one of the crucial parameters enhancing regional market development.
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