The global advanced ceramics market size is projected to reach USD 1, 80,463.4 million by 2028. Fortune Business Insights™ presented this information in a new report, titled, “Advanced Ceramics Market, 2021-2028.” The report further mentions that the market stood at USD 82,972.9 million in 2020. It will exhibit a CAGR of 10.2% during the forecast period between” 2021-2028. The ongoing technological advancements and rising demand for modern consumer electronic appliances are expected to propel the need for electro ceramics. Advanced ceramics is extensively used in such products because of their possession of multiple beneficial properties, such as compressive strength.
The research report of the advanced ceramics industry offers a comprehensive analysis of existing companies that can affect the market outlook throughout the forthcoming years. In addition to that, it provides an accurate assessment by highlighting data on multiple aspects that may contain growth drivers, opportunities, trends, and hindrances. It also represents the overall market size from a global perspective by analyzing historical data and qualitative insights.
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Key Companies Aim to Participate in Acquisition Strategy to Compete with Their Rivals
The market houses several prominent manufacturers that are focusing on various organic and inorganic strategies to compete with their rivals. Among them, acquisition is the most significant strategy. International Syalons, for instance, is a leading producer of silicon nitride and sialon-based ceramics. It often participates in mergers and acquisitions to broaden its footprints and generate more sales.
Shutdown of Manufacturing Plants amid COVID-19 Pandemic May Impact Growth
Numerous companies in the U.S. and other countries have closed their manufacturing plants temporarily amid the COVID-19 pandemic. It has also disturbed supply networks in developing economies, such as India and China. Also, electronics and automotive sectors showcased a decline in revenues backed by work-from-home norms. But, regulatory bodies are striving to bring everything back to normalcy by encouraging companies to start production. It would help in surging the demand for advanced ceramics in the next couple of years.
Kyocera Corporation Acquires 100% Shares of H.C. Starck Ceramics GmbH
In February 2019, Kyocera Corporation, a multinational ceramics and electronics manufacturer based in Japan, announced that Kyocera Fine ceramics GmbH, its Germany-based European headquarters signed an agreement to acquire 100% shares of H.C. Starck Ceramics GmbH. This acquisition will help Kyocera to introduce its state-of-the-art fine ceramic manufacturing assets, innovative technologies, and production lineup in Europe. Such initiatives by prominent companies are likely to surge the demand for advanced ceramics worldwide.