Westford, USA, Dec. 03, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global advanced ceramics market size will reach a value of USD 17.99 Billion by 2031, with a CAGR of 6.1% during the forecast period (2024-2031). Growth in the telecom and medical industries, as well as rising demand for sophisticated ceramics across a range of industries, are anticipated to propel market expansion.
Technical ceramics, another name for advanced ceramics, have better electrical, thermal, optical, and magnetic conductivity. By employing modern ceramics that offer great efficiency to final goods, end users can lower their production and energy expenses. In terms of consumption, Asia Pacific is one of the world's largest markets for advanced ceramics.
Advanced Ceramics Market Overview
Alumina Ceramics to Hold Significant Growth due to Exceptional Mechanical Strength & High-Temperature Resistance
Alumina ceramics dominate the market due to their exceptional mechanical strength, high-temperature resistance, and electrical insulation properties. These properties make them quite optimum for innumerable applications in electronics, automotive, and aerospace areas.
Monolithic to Lead Market due to Uniform Composition and Structural Integrity
Monolithic ceramics dominate the global advanced ceramics market due to their uniform composition and structural integrity. Their characteristics tend to lead them into demanding applications in different industries such as aerospace, automotive, and electronics.
North America to Dominate Market due to Robust Technological Advancements
North America dominates the global advanced ceramics market due to robust technological advancements and significant investments in R&D. A region booming in innovative economies generates high demand for advanced ceramics.
"SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets," states SkyQuest's mission statement.
This report provides insights into key drivers such as shift toward efficient ceramic materials; government investments in R&D; restraints like time-intensive production process; opportunities including development of new ceramic materials influencing growth of the advanced ceramics market.
"Our experiences with innovation management have expanded our reach across North America," said SkyQuest regarding its operations.