Portland, OR, Feb. 19, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global technical ceramics market was pegged at $8.03 billion in 2018 and is projected to register $13.09 billion by 2026, growing at a CAGR of 6.2% during the period from 2019 to 2026.
Increase in demand from various end-use industries and advent of technical ceramics as a substitute to metal have boosted the growth of the global technical ceramics market. However, high energy costs for manufacturing technical ceramics hamper the market growth. On the contrary, development in electronics & semiconductor manufacturing in Asia-Pacific and rapid growth of ceramics in healthcare industry are expected to create lucrative opportunities in the near future.
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The global technical ceramics market was divided on the basis of material, product, end-use industry, and geography. Based on material, the market is segmented into oxide and non-oxide. The oxide segment held the largest share in 2018, contributing to more than three-fifths of the market. However, the non-oxide segment is expected to manifest the fastest CAGR of 6.5% during the study period.
On the basis of product, the market is categorized into monolithic ceramics, ceramic coatings, and ceramic matrix composites. The monolithic ceramics segment dominated the market in 2018, accounting for two-thirds of the market. However, the ceramic matrix composites segment is expected to register the fastest CAGR of 6.8% during the forecast period.
Based on end-use industry, the market is segmented into electronics & semiconductors, automotive, energy & power, industrial, medical, military & defense, and others. The global technical ceramics market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America is expected to manifest the fastest CAGR of 6.7% during the forecast period. However, the market across Asia-Pacific held the largest share in 2018, accounting for one-fourth of the market.
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The global technical ceramics market report includes an in-depth analysis of the major market players such as Albemarle Corporation, KYOCERA Corporation, Rauschert GmbH, Morgan Advanced Materials plc, CoorsTek Inc., McDanel Advanced Ceramic Technologies, 3M, NGK Spark Plug Co., Ltd., Saint-Gobain S.A., and KCC CORPORATION.
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.