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.
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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.
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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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