Porous Ceramics Market Size to Reach $12.4 Billion by 2025 | CAGR: 11.4%: Grand View Research, Inc.

SAN FRANCISCO, Jan. 22, 2020 /PRNewswire/ -- The global porous ceramics marketA size is expected to reach USD 12.4 billion by 2025, growing at a CAGR of 11.4%, according to a new report by Grand View Research, Inc. Expansion of the medical industry across the globe coupled with the use of advanced devices and tools is projected to propel the market growth.Factors such as toughness and strength of the porous ceramics is projected to augment its demand in various medical applications such as acetabular cups and femoral heads for hip replacement, dental implants and restorations, bone fillers, and scaffolds for tissue engineering. This is anticipated to propel the demand for porous ceramics in the medical industry, thereby driving the market growth.Key suggestions from the report:

Alumina ceramics raw material segment dominated the porous ceramics market in 2018 and is estimated to generate revenue of USD 4.8 billion in 2025, owing to their increasing use in industries such as semiconductor, electrical, and medical

The filtration product segment is anticipated to exhibit a CAGR of 10.3% from 2019 to 2025 in terms of revenue due to rising use of filtration products in the industrial processing

The medical application segment is estimated to witness a CAGR of 13.9% owing to rising healthcare spending across the globe, coupled with increased product penetration in the medical industry

Asia Pacific was valued at USD 2.3 billion in 2018 and is projected to witness gains over the forecast period owing to the expansion of the industrial sector in the region, which further promotes the demand for porous ceramic filtration products

Key participants are engaged in R&D activities to design and develop innovative processing technologies to cater the increasing product demand across various industries.

Read 176 page research report with ToC on "Porous Ceramic Market Size, Share & Trends Analysis Report By Raw Material, By Application (Automotive, Medical, Energy & Power, Aerospace & Defense, Electronics & Semiconductors), By Region, And Segment Forecasts, 2019 - 2025" at: use of raw materials such as alumina and zirconia across various industries owing to properties such as stability, purity, and chemical inertia is likely to result in increased raw material cost. This is projected to limit the market growth over the forecast period. However, rising use of porous ceramic filtration and insulation products in the industrial sector is anticipated to fuel the market growth.
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