SAN FRANCISCO, May 14, 2018
SAN FRANCISCO, May 14, 2018 /PRNewswire/ --
The global technical ceramics market is expected to reach USD 134.58 billion by 2024, according to a new report by Grand View Research, Inc. Rising product need in various end-use industries owing to their cost effectiveness and increased life span, as opposed to their customary counterparts, is expected to positively impact the market over the forecast period.
Rising automobile demand among consumers, particularly in Asia Pacific countries including China and India, on account of rising disposable incomes and changing lifestyles, is expected to fuel product demand over the forecast period. In addition, rising product use as a substitute to plastics and metals in numerous high-performance applications, in the medical and automotive sectors, is expected to propel growth over the forecast years.
These products have been gaining acceptance over the past few years on account of growing awareness regarding their benefits such as biodegradability, durability, and high tensile strength. Rising environmental concerns, coupled with stringent regulations by governments in North America and Europe, are expected to further propel product demand over the next eight years.
The global industry is also expected to witness considerable growth over the next eight years owing to their increasing product use in the electronic & electricals industry. Rising electronic devices demand among consumers, most notably in the Asian continent, is expected to have a positive impact on the product demand over the forecast period.
The extensive use of coated machinery components, coupled with shifting preference among consumers to technical coatings and breakthroughs in deposition processes, are expected to open new market opportunities for the products over the forecast period. Key factors expected to challenge industry growth include regulatory as well as environmental issues, and competition from alternative materials.
Browse full research report with TOC on "Technical Ceramics Market Size, Share & Trends Analysis Report By Material (Alumina Ceramics, Titanate Ceramics, Zirconate Ceramics, Ferrite Ceramics), By Product, By Application, And Segment Forecasts, 2018 - 2024" at: https://www.grandviewresearch.com/industry-analysis/technical-ceramics-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the technical ceramics market on the basis of material, product, application, end-use and region.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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