Bioceramics and Piezoceramics Market to Grow with a CAGR of 4.73% through 2028

Growing demand of bioceramics and piezoceramics in automotive industry are expected to drive the Global Bioceramics and Piezoceramics Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Bioceramics and Piezoceramics Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Bioceramics and Piezoceramics Market stood at USD 17.43 billion in 2022 and is anticipated to grow with a CAGR of 4.73% in the forecast period, 2023-2028. The initiatives taken by government based on bioceramics and piezoceramics has led to favorable market conditions for the Global Bioceramics and Piezoceramics Market. Several factors contribute to the growth of various bioceramics and piezoceramics products.

One of the recent government initiatives aimed at fostering dialogue and knowledge-sharing in the field of bioceramics and piezoceramics is the hosting of events and webinars. These platforms provide experts with opportunities to discuss the latest trends, challenges, and opportunities in the market. For instance, in February 2023, the Bioceramics Division of the American Ceramic Society organized a groundbreaking initiative, the "Women in Biomaterials Webinar." This webinar served as a platform for accomplished women in the field to share their insights and experiences, inspiring and empowering others in the industry.

Furthermore, recognizing the importance of advanced materials, including bioceramics and piezoceramics, governments worldwide have been actively implementing policies and providing funding to support research and development in this area. These concerted efforts are essential for the discovery and development of new and improved materials, which in turn drive the growth and innovation within the market. By investing in these initiatives, governments are not only fostering technological advancements but also contributing to the overall progress and well-being of society.

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Alumina-based Bioceramics and Piezoceramics find extensive applicability in the automotive sector, particularly in sensors and actuators applications. This is primarily driven by the rapid pace of urbanization, continuous technological advancements, and significant investments in the automotive industry. Notably, according to the International Organization of Motor Vehicle Manufacturers, global automotive production reached a remarkable figure of 80.1 million units in 2021, representing a notable 3% increase compared to the previous year.

Moreover, it is worth highlighting that the growth in automotive production is not limited to the global level but is also observed at the regional level. For instance, South America witnessed a substantial 18% increase in automotive production, while Africa experienced a notable 16% boost in 2021, according to the same data. These impressive growth figures in the automotive sector have, in turn, fueled the demand and usage of alumina-based Bioceramics and Piezoceramics for actuators and sensors applications.

As a result, the Bioceramics and Piezoceramics industry is expected to witness substantial growth during the forecast period, driven by the growing need for advanced materials in the automotive sector and the increasing demand for high-performance sensors and actuators in various applications.

The Global Bioceramics and Piezoceramics Market is segmented into material, application, regional distribution, and company

Based on its material, the bio-inert ceramics segment held the largest share in the market. Bio-inert ceramics, known for their exceptional strength and toughness, are extensively used in load-bearing applications such as knee and hip replacements. With their remarkable ability to withstand heavy loads, these ceramics provide durability and long-term stability to the implants, ensuring reliable performance.

In addition to their impressive strength, bio-inert ceramics boast high wear resistance, significantly reducing the risk of implant failure caused by wear and tear over time. This characteristic enhances the longevity of the implants, offering patients a higher quality of life and minimizing the need for frequent replacements.

Moreover, bio-inert ceramics are highly biocompatible, meaning they are well-tolerated by the human body and do not trigger adverse reactions or complications upon implantation. This biocompatibility ensures a seamless integration of the implants into the patient's natural anatomy, promoting healing and minimizing the potential for complications.

Based on region, Asia Pacific segment is expected to grow during the forecast period.

The Asia Pacific region has witnessed a remarkable surge in technological advancements, particularly in countries like Japan, South Korea, and China. These nations have embraced cutting-edge innovations to drive more efficient production and application of bioceramics and piezoceramics. These remarkable advancements not only enhance the quality and performance but also fuel the growing demand for these materials.

Additionally, Asia Pacific's dominance in the global market can also be attributed to the rapid increase in automotive production within the region. As the automotive industry continues to expand, the demand for bioceramics and piezoceramics has soared. These materials are extensively utilized for sensors, actuators, and transducers, owing to their exceptional piezoelectric properties. This significant growth in the automotive sector further amplifies the need for these advanced materials, solidifying Asia Pacific's position as a key player in the industry.

Major companies operating in Global Bioceramics and Piezoceramics Market are:

• Ceramtec GmbH
• Coorstek Inc.
• DePuy Synthes Inc
• H.C. Starck GmbH
• Kyocera Corporation
• Morgan Advanced Materials PLC
• NGK Spark Plug Co., Ltd.
• Rauschert GmbH
• Saint-Gobain Ceramic Materials Zhengzhou Co Ltd
• Zimmer-Biomet holdings Inc.

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“Growing application of bioceramics and piezoceramics in various end user industries are key drivers of the bioceramics and piezoceramics market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of bioceramics and piezoceramics with every passing year are anticipated to register an impressive growth to Global Bioceramics and Piezoceramics Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Bioceramics and Piezoceramics Market By Material (Bio-Inert Ceramics, Bio-Active Ceramics, Bio-Resorbable Ceramics, Piezoceramics, Others), By Application (Dental Implants, Orthopedic Implants, Surgical Instruments, Implantable Electronic Devices, Diagnostic Instruments, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Bioceramics and Piezoceramics Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Bioceramics and Piezoceramics Market.

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