Unlocking Growth: 5 Key Opportunities for Advanced Ceramics Suppliers

Demand for advanced ceramics is growing from a number of different sources. But to take advantage, suppliers need to evolve not only in terms of their materials but also in the way they bring them to market. In this blog, we highlight five opportunities for suppliers of advanced ceramics, including the ability to reach more customers through digital channels.

1) Growth in traditional markets

Industry analysts expect the global advanced ceramics market to reach $100 billion by 2025, which represents a Compound Annual Growth Rate (CAGR) of 7.9%. This growth will come from both new applications for the materials as well as increased demand from existing markets.

For example, the silicon carbide power semiconductors market is expected to see significant growth over the next 4-5 years as digital technology continues to proliferate across the globe.

The biotechnology market, too, is likely to grow, primarily driven by demand in dental and orthopaedic applications in emerging economies.

2) Piezoelectric devices

As the world shifts to a low-carbon economy, demand for piezoelectric devices – from sensors and transducers to generators and motors – continues to increase.

This combination of increased demand for energy-harvesting technologies and greater investment from governments and private equity will see the piezoelectric devices market reach $24.9 billion by 2023. Ceramics suppliers are well placed to take a significant slice of this pie.

Another exciting application of piezoelectric ceramics has been floated by researchers at Lancaster University. When embedded in road surfaces, such materials would use the piezoelectric effect to turn the mechanical energy of vehicle vibrations into electric power. Developments like this really demonstrate the wide range of potential applications for advanced ceramics.