The global advanced ceramic market size was valued at USD 97.0 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 3.7%, in terms of revenue, from 2020 to 2027. Rising demand from the end-use industries including renewable energy and medical are expected to propel market growth over the forecast period. Rising product demand from the clean technology industry will also support market growth. For instance, products, such as solid oxide fuel cells are entirely made of advanced ceramics. Their benefits are anticipated to further increase their usage in the industry, by replacing single critical components like insulation materials.
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