South America advanced ceramics market is projected to grow at a CAGR of 9.81% during the forecast period to reach US$13.606 billion by 2027, from US$7.067 billion in 2020. A ceramic is any of a number of hard, heat-resistant, brittle, and corrosion-resistant materials created by molding and burning an inorganic, non-metallic substance like clay at a high temperature. Earthenware, porcelain, and brick are common examples. Advanced ceramics are substances and techniques that are utilized in the research and production of ceramic materials with unique qualities. Advanced ceramic processing advances at a breakneck rate, resulting in what can only be described as a revolution in the types of materials and attributes produced.
Over the projected period, rising demand from end-user verticals such as renewable energy and medical is likely to boost market expansion. Products like solid oxide fuel cells, for example, are comprised of sophisticated ceramics. Their advantages are expected to enhance their use in the industry by allowing them to replace single key components such as insulating materials. Furthermore, the increased use of ceramics in the transportation industry, as well as other factors contributing to the worldwide expansion of defense production, are increasing demand for ceramics, which is predicted to enhance the South America advanced ceramics market. Further, recent structural changes, which have resulted in lower interest rates and lower inflation, have set the path for a steady recovery of the economy, expanding investment prospects in the area. As a consequence, the performance of many sectors that use advanced ceramics, including automotive, manufacturing, and electronics, among others, is likely to expand steadily throughout the forecast period, propelling the South America Advanced Ceramics Market.
The high cost of manufacturing and using ceramics, on the other hand, is a key impediment to the worldwide advanced ceramics market's growth. Furthermore, strict environmental rules that prevent the widespread use of some contemporary ceramics are projected to stymie market growth for advanced ceramics.
Key Developments
In June 2020, Morgan Advanced Materials announced the acquisition of Carbo San Luis, a manufacturer of ceramic fibers and insulating, unshaped-basic, and non-basic preshaped and pressed refractory materials.
By material, South America advanced ceramics market is segmented into Titanate, Zirconia, Alumina, Ferrite, Aluminum Nitride, and Others. The alumina segment is expected to dominate the market over the projection period owing to exceptional qualities that make them suitable for use in a variety of situations, including wear, structural, and corrosive conditions. Further, due to their low cost, magnetic characteristics, and ease of supply, ferrites are expected to grow.
By product, South America advanced ceramics market is segmented into Monolithic, Ceramic Coatings, Ceramic Matrix Composites, and Others. The monolithic ceramic is expected to dominate during the projection period. The ceramic matrix composites segment is predicted to grow at the quickest rate due to high-temperature resistance and toughness, which are driving demand in a variety of applications.
By end-user industry, South America advanced ceramics market is segmented into Electrical & Electronics, Automotive, Machinery, Environmental, Medical, and Others. The electronics sector is bolstered by advanced ceramics, for instance, sensors, antennae, capacitors, and resistors, are becoming smaller and more capable. As a result, advanced ceramics are investing much in this field. With the continued globalization of the microelectronics sector and the localization of production capabilities, the South American market for electronics manufacturing now has a number of new prospects. During the projected period, the region's expanding electrical and electronics industry is expected to drive demand for advanced ceramics.
By country, South America advanced ceramics market is segmented into five regions Brazil, Argentina, Chile, Columbia, and others. Brazil is the world's third-largest aerospace producer. Brazil's state of Sao Paulo is Latin America's major aerospace center. There are over 100 manufacturing facilities in the state, with 73 percent of them being Brazilian. Embraer, a Brazilian aerospace company, is the region's leading commercial and military aircraft producer. The country's construction industry is predicted to increase at a moderate rate throughout the projection period, which will be evident in advanced ceramics as well.
Covid-19 Insights
The COVID-19 epidemic had a detrimental influence on the market. Almost all manufacturing industries where advanced ceramics find applications, such as electrical and electronics, transportation, industrial, chemical, and other end-user industries (except medical), reduced their manufacturing capacities due to a lack of workers, prevailing lockdowns, and a halt in the supply chains, during the year 2020. This has had an impact on both production and demand for sophisticated ceramics. For the year 2020, the South American electronics sector is expected to see a reduction in sales. However, throughout the predicted period, the situation is expected to steadily improve. The COVID-19 epidemic has affected production and trade activities in all major industries throughout the region, which is expected to slow down market development.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market size value in 2020 | US$7.067 billion |
| Market size value in 2027 | US$13.606 billion |
| Growth Rate | CAGR of 9.81% from 2020 to 2027 |
| Base year | 2020 |
| Forecast period | 2022–2027 |
| Forecast Unit (Value) | USD Billion |
| Segments covered | Material, Product, End-User Industry, And Geography |
| Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered | CeramTec GmbH, Oerelikon Metco, Morgan Advanced Material, CoorsTek Inc., Kyocera Corporation, Murata Manufacturing Co. Ltd., Solcera Advanced Materials, Saint-Gobain Advanced Ceramics LLC |
| Customization scope | Free report customization with purchase |
Key Market Segments