Nanoceramic Market Size, Application Potential, By Product, 2019-2025
Nanoceramic Market size is
increasing rapidly owing to the growing demand from energy and electronic
industries. Developing energy sector, and increasing consumption of energy over
the recent years will swell the market size. The product use in the
manufacturing of super capacitors will be a key driving factor for the product
application in energy storage devices, next to lithium ion batteries. Rising
use of renewable energy such as solar energy as a clean source for power
generation in order to meet climate and emission norms will further increase
the demand for nanoceramic powders to produce photovoltaic cells.
Nanoceramics possess exceptional properties
because of their molecular structure, controllable crystallinity and fine grain
size, which offer super plasticity, strength, machinability, bioactivity and
toughness. These features make the product ideal for the manufacturing of
semiconductors, magnets, insulators and conductors, which will upsurge the
product demand in the near future.
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Nanoceramic
materials possess exceptional biocompatibility properties with tissues and bone
cells. These ceramic materials have exceptional binding ability, and adhere to
various natural tissues and bone structure. The medical sector will provide
ample growth opportunities to the nanoceramic market as the product finds
application in dental caps, hip joints, bridges and reconstructing of fractured
bones.
Use of
nanoceramics in energy supply and storage industry in addition to power
generation will also increase the product demand. Rising use of the product in
coating of metals and ceramics owing to its unique hardness and corrosion
resistant properties will boost the product demand in the forecasted timeframe.
The product is also used for coating of bearings, pump and compressor
components, engine parts, etc. which will have a positive influence on the
overall market in coming years.
High upfront cost and technological knowhow involved
in the development of the product may pose hindrances in the product market
over the coming years. Additionally, low awareness about the product benefits
among the end-users in the developing countries may have a negative impact on
the nanoceramic market growth over the coming years.
By
application, nanoceramics market is classified into energy & electronics,
bone repair, coating, communication, construction and other applications that
includes armor, communication, etc. Nanoceramics products are especially used
for electrical applications that includes semiconductors, insulators, magnets
and conductors. Moreover, the products are extensively used in medical and
biomedicine technology for bone repair by thoroughly matching the properties of
bone and acting as a nano scaffold to sustain bone regrowth. These advanced
application sectors will propel nanoceramic market size in medical applications
over the coming years.
On the
basis of end-use sector, the market is categorized into medical, electrical
& electronics, automotive & transportation, building & construction
and others that includes industrial aerospace, communication, energy storage,
etc. Rising demand from electrical & electronics, automotive &
transportation industry will propel market in the coming timeframe.
Asia
Pacific is projected to grow with a significant rate owing to rise in electrical
and electronics industry in addition to the developing automotive and
construction sectors in emerging countries such as China, India, and Indonesia.
The growth in the end-use sectors in these countries will swell the nanoceramic
market in the region. Moreover, low manufacturing and labor costs, besides
various favoring government policies promoting use of solar energy for power
generation will encourage the growth of energy & storage sector in the
region.
Some of the important players in
nanoceramic market are Innovnano materials, Nitto Denko Corporation Synkera
Technologies, Inc. Tosoh Corporation, Nanophase Technologies Corporation,
Nyacol Nano Technologies, Inc, Ceramic Pro, Nanoformula s.c, Zhiling
International Industrial Limited, etc.
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Nanoceramic Market Size, Application Potential, By Product, 2019-2025
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Reviewed by GMI
on
August 09, 2019
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