A new study from The Freedonia Group, Inc. – a Cleveland-based industry market research firm – suggests that the requirements for advanced ceramics in the United States could reach $14 billion per year by 2015. For those of us in the industry, this is great news – but, it’s also great news for our clients and the clients of companies such as ours. With an estimated 6% annual increase in the sales of advanced ceramics, we can rest assured that our market isn’t shrinking, isn’t stagnant, but is growing. This allows us to decrease production costs for the consumers.
An article from Azom.com puts it this way:
Demand will be boosted by an increase in original equipment manufacturing in the US, especially of motor vehicles and electrical equipment, from modest 2010 levels. Further growth will come in environmental markets, where new regulations will dramatically increase demand for pollution control systems that use advanced ceramic filters and membranes. Additional growth in ceramic membrane sales will come as they replace other filtration media because of their better performance and durability. Ceramic bearing demand will increase in the turbine market for similar reasons.
With increased production in gasoline and diesel engines, aerospace technology, medical applications for advanced ceramics and natural market increase, it is likely that the advanced ceramics industry will be harboring purchasers in a wide variety of industrial fields for a long time to come.
Another recent report from researchandmarkets.com suggests that the growth potential in China is also strong. China, which is responsible for mining 90% of the Earth’s rare mineral deposits, has a need for a wide variety of advanced ceramics applications ranging from structural to integral. They require ceramics with a diverse range of attributes, including “toughness, resistance to corrosion and electricity, high refraction, bio-chemical inertness and strength”.
What this means for those of us in the advanced ceramics industry and our constituents is that our market is growing rapidly. This means expansion, reduction in production costs for our consumers and an increased demand for our services that will propel us into the next decade. It’s an exciting time for us!
Tell us how excited you are by sounding off in the comments section below, or get in touch with an engineer from Refractron today to learn more about getting in on the ground floor of a re-invigorated market!