Future Market Insights, Inc. Forecasts Global Advanced Ceramics Market to Reach US$ 105,483.4 Million by 2032, Growing at a CAGR of 5.4% from 2022
DUBAI, United Arab Emirates, March 07, 2023 (GLOBE NEWSWIRE) - According to a recent report by Future Market Insights, Inc., the global advanced ceramics market is expected to experience significant growth with a Compound Annual Growth Rate (CAGR) of 5.4% during the valuation period from 2022 to 2032. The market is projected to be valued at US$ 105,483.4million by 2032, up from US$ 62,341.6 million in 2022.
The report reveals that the increasing use of advanced ceramics in electronic components and circuits is one of the major driving factors for the growth of the market. The heat resistance and insulation properties of ceramic components and systems make them widely used in the electronics industry.
North America is expected to be the most opportunistic region, with an 18.0% share of the total advanced ceramics market. The report also highlights that the global advanced ceramics market registered a CAGR of 3.9% from 2016 to 2021, indicating a steady growth trend in recent years.
Overall, the advanced ceramics market is expected to continue to grow over the next decade, driven by the increasing demand in various industries, such as electronics, healthcare, and automotive.
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