Porous Ceramic Market - Overview
The global porous ceramic market is anticipated to expand at a promising rate from 2021 to 2031. Rising usage of filtration products, growing disposable income levels, increased government efforts to develop the healthcare sector, and the adoption of numerous regulations to safeguard against the exposure of hazardous toxic gases are likely to accelerate the growth of the global porous ceramic market. On the other hand, growing advancements in medical technologies and rising product demand due to high mechanical strength, low thermal conductivity, chemical resistance, thermal stability, and others are expected to provide abundant opportunities for the growth of the porous ceramic market during the forecast period.
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Porous Ceramic Market - Competitive Landscape
Key players in the global porous ceramic market are Applied Materials, Inc., Nishimura Advanced Ceramics Co., Ltd., CoorsTek, Inc., Kyocera Corp., Innovacera, KeraNor AS, STC Superior Technical Ceramics, NGK Spark Plug Co., Ltd.
Due to the existence of multiple established players, the global porous ceramic market is highly competitive. The major firms are increasing their presence to serve a larger consumer base. CoorsTek, Inc., for example, announced an additional expansion of its manufacturing footprint in Benton, Arkansas, U.S., in April 2021, as part of the company's long-term goal to promote innovation in the military and aerospace sectors.
Porous Ceramic Market - Trends and Opportunities
Growing demand for porous ceramic from various industries, including automotive, medical, electronics and semiconductor, energy and power, industrial, aerospace, and defense, is expected to boost the global porous ceramic market over the forecast period. Other factors projected to fuel expansion in the worldwide porous ceramic market include rising consumer healthcare concerns and advancements in medical technology. Moreover, increased consumer spending power and growing government spending for healthcare sector expansion, particularly in emerging countries, are expected to bolster the growth of the global porous ceramics market throughout the forecast period.
The US government's implementation of numerous measures to safeguard the public from exposure to various dangerous poisonous gases is expected to raise demand for filters and positively impact market growth. Porous ceramic materials are resilient to pressure, temperature, and corrosion, which encourages their use in many industrial processes to enhance product quality by eradicating impurities. Increased adoption of filtration and separation products in the industrial sector is projected to increase demand for porous ceramic filtration products, which is estimated to push market growth over the forecast period.
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Porous Ceramic Market - Regional Landscape
The porous ceramic market in Asia Pacific is expected to grow during the forecast period. Due to the presence of multiple manufacturers, the region is a global manufacturing base for electronics and semiconductors. Moreover, governments in the region are experiencing growing foreign investment in the electronics and semiconductors industries, which is projected to boost market expansion.
China is expected to contribute to the porous ceramic market in Asia Pacific. Excessive industrial pollution discharge fines imposed on various companies are anticipated to encourage the development of China's air and water filtering systems. This is likely to increase demand for porous ceramics used in the manufacture of filtration goods.
The North America porous ceramic market is anticipated to expand during the forecast period. The region's need for automotive filters is projected to skyrocket due to an expanding trend of lightweight materials substituting automotive metal components with ceramic-based components, such as spark plugs and braking pads. These aspects are likely to boost the regional market growth during the forecast period. In addition, the United States is expected to experience considerable growth in the porous ceramic market in North America.
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.