Market revenue in 2022 | USD 239.5 million |
Market revenue in 2030 | USD 359.4 million |
Growth rate | 5.2% (CAGR from 2022 to 2030) |
Largest segment | Traditional |
Fastest growing segment | Advanced |
Historical data covered | 2017 - 2021 |
Base year for estimation | 2022 |
Forecast period covered | 2023 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Traditional, Advanced |
Traditional was the largest segment with a revenue share of 57.08% in 2022. Horizon Databook has segmented the Global ceramics market based on traditional, advanced covering the revenue growth of each sub-segment from 2017 to 2030.
Materials in the medical industry should be non-corrosive, highly wear-resistant, and human-body compatible. The rising demand for high-quality and functional safety in medical devices and equipment to meet stringent approval standards and withstand challenges in healthcare practices have augmented the need for reliable materials such as ceramics.
Ceramics are utilized in medical applications including biomedical implants and bone implants. Over the past few years, there has been a significant rise in the use of ceramic materials for manufacturing implant devices. Superior properties of zirconium-based ceramics such as toughness, strength, low wear rate, and bio inertness are projected to augment their demand over the coming years.
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