Ceramics Market is Forecasted to Reach US$ 240 Billion Valuation by 2034: Fact.MR Study

Rockville , Nov. 09, 2023 (GLOBE NEWSWIRE) -- The global Ceramics Market is estimated to reach a value of US$ 133.7 billion in 2024 and expand at 6% CAGR over the next ten years (2024 to 2034). This study by Fact.MR, a market research and competitive intelligence provider, reveals that sales of advanced ceramics are set to surpass traditional ceramics by the end of 2034.

Growing use of ceramic materials in different aspects of construction is projected to be the primary factor driving shipments of ceramics on a global level. Increasing investments in infrastructure development, the high popularity of ceramic art pieces, and the rising use of ceramics in the production of luxury tiles and sanitary ware are also slated to uplift the demand for ceramics in the long run. East Asia and South Asia are projected to offer highly remunerative opportunities for ceramics vendors in the future.

For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=3846

Key Segments of Ceramics Industry Research Report

Ceramics manufacturers are focusing on launching new types of ceramic products to boost their revenue generation and improve their share in the global competitive landscape.

• In May 2023, Caesar Ceramics, an Italian and United States-based tile supplier, announced the launch of a new range of porcelain tiles. The Iconica collection is inspired by the natural patterns found in travertine, a type of limestone.

Key Takeaways from Market Study

• The global ceramics market is estimated at US$ 133.7 billion in 2024.
• Demand for ceramics is projected to rise at a CAGR of 6% from 2024 to 2034.
• The market is forecasted to reach US$ 240 billion by 2034-end.
• Rapid urbanization, launch of several new construction projects, surging use of ceramics in automotive and medical applications, and rising availability of novel ceramic materials are prime market drivers.
• High costs of advanced ceramics will be a key restraint for market development in the long run.
• Traditional ceramics accounted for more than 50% share of global ceramics demand in 2023.
• East Asia and South Asia & Oceania cumulatively held 40% share of global sales of ceramics in 2023.
• Demand for ceramic coatings is singlehandedly driving market growth in Europe.

“Development of new ceramic materials with advanced characteristics will allow ceramics suppliers to stay relevant in the future,” says a Fact.MR analyst

Winning Strategy

Ceramics suppliers are investing in product innovation to create new materials with better characteristics that are suitable for a multitude of futuristic applications going forward. Ceramics companies are also projected to capitalize on the growing use of ceramics in the automotive, medical, and electronics industries.

Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=3846

Competitive Landscape

Prominent ceramics brands are dedicated to introducing innovative products that harness the unique properties of ceramics, aiming to boost sales and expand their market presence. Ceramics suppliers are also diversifying their product offerings and exploring new market segments to gain a competitive edge over their industry peers.

• In September 2023, Caraway Cookware, a brand celebrated for its dedicated following, unveiled its latest ceramic cookware line, The Squareware Collection. This range features a ceramic coating that is non-toxic and free from PFAS, delivering exceptional heat conductivity.
• May 2023 witnessed SprintRay Inc., a renowned leader in digital dentistry and 3D printing, launching 3D printing resins infused with ceramics for denture production, following its receipt of a 510(k) clearance from the United States Food and Drug Administration (FDA).
• In September 2021, Zetamix, a subsidiary of Nanoe, marked its foray into the art and décor industry with the introduction of a new series of porcelain products. Zetamix collaborated with the esteemed ceramic manufacturer Cerinnov Group to make this venture possible.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global ceramics market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights on the market based on product type (advanced, traditional), application (sanitary ware, bricks & pipes, abrasives, refractories, electrical equipment, engine parts, tiles, pottery, others), and end-use industry (construction, electrical & electronics, automotive, machinery, medical, others), across six major regions of the world (North America, Europe, Latin America, East Asia, South Asia & Oceania, and the Middle East & Africa).

Checkout More Related Studies Published by Fact.MR Research:

Advanced Ceramics Market: The global advanced ceramics market is estimated to be valued at US$ 73.5 billion in 2023 and it is expected to grow at a CAGR of 7.0% to reach US$ 144.6 billion by the end of 2033.

Electroceramics Market: Based on the analysis by Fact.MR, the global electroceramics market is valued to be US$ 10.1 billion in 2023 and it is expected to grow at a CAGR of 4.0% to reach US$ 15.0 billion by the end of 2033.

Electronics and Electrical Ceramics Market: The global electronics and electrical ceramics market is valued to be US$ 11.6 billion in 2023 and it is anticipated to grow at a CAGR of 5.0% to reach US$ 18.9 billion by the end of 2033.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team : sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog