NANOCERAMIC POWDER MARKET ANALYSIS-(2019-2027)
The global nanoceramic powder market size is expected to witness potential gains in the future and register a significant CAGR of 18% over the forecast period (2019 - 2027).
Market Overview
Nanoceramics are inorganic nanoparticles of ceramics that are nonmetallic solids i.e. made of both metallic and nonmetallic compounds. These heat-resistant particles are used for polishing, lapping, grinding, dispersion, and surface treatment. Nanoceramic powder of high purity is used in dielectric applications. Different types of nanoceramic powder include those obtained from oxides, carbides, nitrides, and borides. Nanoceramic powders find application in electrical and electronics, industrial, transportation, medical, chemical, defense, and other end-user industries.
Market Dynamics
Increasing demand for alumina and silica powders for various applications is expected to boost growth of the global nanoceramic powder market over the forecast period. Alumina powder is used in the construction of materials. It is also used as abrasives and catalysts. Alumina ceramic is used to prevent wear and corrosion in plants and mechanical engineering. Nano silica powder is used in paints, plastics, color rubbers, and magnetic materials. It is also used in ceramics porcelain, gypsum, batteries, paints, adhesives, cosmetics, glass, steel, fiber, and glass.
Increasing adoption of nanoceramic powder in the healthcare industry is expected to offer lucrative growth opportunities for the market players. In bone tissue engineering, bioactive scaffolds, host cells and osteogenic signals are used to restore damaged or diseased tissues. Composites of bioactive ceramics closely match the properties of bone. Nanoceramic powder offers a broad platform to the field of bone tissue engineering. Research and development to promote use of nanoceramic powder in the field of space exploration and photovoltaic solar cell is also expected to aid in growth of the market over the forecast period.
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Market Outlook
On the basis of region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The market in North America is expected to hold dominant position in the market over the forecast period. The market growth is majorly attributed to emerging applications of nanoceramics in the field of electronics and healthcare.
Asia Pacific is expected to witness significant growth in the market share, owing to increasing demand for bone tissue engineering. The region has high percentage of geriatric population that is prone to several bone-related diseases, which leads to high demand for bone replacement or bone grafting.
Key Players
Major players operating in the gloabal nanoceramic powder market include, Innovnano, Synkera Technologies, Inc., and Nitto Denko Corporation
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