Ceramic cores are made from ceramic materials, which are used as internal structures within the wax or plastic pattern to create internal features and hollow sections in the final metal part. These cores are commonly used in investment casting, a precision casting technique used to produce complex and high-quality metal parts, particularly for applications in the aerospace, industrial gas turbine, automotive, and medical industries for the production of turbine blades, vanes, and other complex components. These cores possess a range of properties, such as high-temperature resistance, dimensional stability, chemical inertness, and low thermal conductivity, that make them suitable for their intended applications. These cores are considered niche and specialized products, where major tier players engage in in-house ceramic core manufacturing as well.
With the emergence of the pandemic in 2020, there were significant effects on various industries, and the ceramic core market was no exception. With the spread of the virus and the implementation of lockdown measures, the market witnessed a disruption in its supply chain. Apart from the reduced demand from end-use industries, factors, such as factory closures and labor shortages, led to delays and the unavailability of raw materials necessary for manufacturing ceramic cores, affecting the overall production schedules and the market. In addition, as a result, the demand for ceramic cores faced a staggering fall of nearly 35% in 2020.
However, the long-term outlook appears favorable with plenty of opportunities, propelled by an increase in the manufacturing of aircraft engines, an expected growth in the production rate of key programs (A320neo, B737 Max, A220, B787, and A350XWB), and the introduction of new aircraft programs (C919, MC-21, B777x, etc.). These factors have stimulated a heightened focus on ceramic cores and would help drive the market in the coming years, ultimately helping industry stakeholders cross their pre-pandemic levels by 2024. Overall, the ceramic core market is likely to grow at a promising CAGR of 7.0% in the long run, to reach US$ 0.7 Billion in 2028.
Concurrently, SiO2-ZrSiO4 is preferred for high-performance applications, such as creating internal cavities and passageways within the cast components during the production of complex and high-precision components such as turbine blades and vanes. As a result, it is anticipated to witness the fastest growth in the market during the forecast period.
Based on sourcing type, the market is segmented into in-house and outsourcing. Outsourcing can offer several advantages, such as cost savings, reduced capital investment in equipment and facilities, and access to expert knowledge and technology. This allows the company to focus on its core competencies while relying on the expertise of the outsourcing partner to provide high-quality ceramic cores. As a result, outsourcing is predicted to remain the larger and faster growing in the market over the next five years. On the other hand, major companies in the investment casting business, such as Howmet Aerospace Inc. and PCC Airfoils, LLC, have in-house ceramic core manufacturing capabilities.
Based on the industry type, the ceramic core market is segmented into aerospace & defense, industrial gas turbines, and others. Among these industry types, aerospace & defense is likely to remain the largest as well as the fastest-growing market category during the forecast period. In aerospace & defense, these cores are crucial and are commonly used in investment casting processes for manufacturing complex and high-temperature-resistant components, such as turbine blades, vanes, and other critical components. The ceramic core is used to create intricate internal geometries in these parts.
In terms of regions, North America is expected to remain the largest market for ceramic cores during the forecast period, with the USA, in particular, offering lucrative growth opportunities. The country boasts a robust aerospace & defense industry, where ceramic cores are extensively used in the manufacturing of critical components like turbine blades and vanes. In addition, the country is home to a large number of industry stakeholders, including leading market players, such as Morgan Advanced Materials, CoorsTek, Inc., Howmet Aerospace, Inc., and PCC Airfoils, LLC. The region is also the preferred manufacturing base of aerospace and industrial gas turbine manufacturers and their tier players, including raw material suppliers. On the contrary, Asia-Pacific is likely to be the fastest-growing region during 2023-2028, with China, Japan, and India being the major contributors. China, in particular, is likely to maintain its growth momentum in the coming years, owing to the flourishing local aerospace supply chain and the evolving presence of local players in the country.
The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with an internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
The analyst conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
With the emergence of the pandemic in 2020, there were significant effects on various industries, and the ceramic core market was no exception. With the spread of the virus and the implementation of lockdown measures, the market witnessed a disruption in its supply chain. Apart from the reduced demand from end-use industries, factors, such as factory closures and labor shortages, led to delays and the unavailability of raw materials necessary for manufacturing ceramic cores, affecting the overall production schedules and the market. In addition, as a result, the demand for ceramic cores faced a staggering fall of nearly 35% in 2020.
However, the long-term outlook appears favorable with plenty of opportunities, propelled by an increase in the manufacturing of aircraft engines, an expected growth in the production rate of key programs (A320neo, B737 Max, A220, B787, and A350XWB), and the introduction of new aircraft programs (C919, MC-21, B777x, etc.). These factors have stimulated a heightened focus on ceramic cores and would help drive the market in the coming years, ultimately helping industry stakeholders cross their pre-pandemic levels by 2024. Overall, the ceramic core market is likely to grow at a promising CAGR of 7.0% in the long run, to reach US$ 0.7 Billion in 2028.
Recent Product Developments: There have been some product launches in recent years. Some of the major ones have been mentioned below:
- In 2022, Shenzhen Huachengda Precision Industry Co., Ltd. launched Axdual, a double-mesh and graded heating ceramic core, which addressed issues like local high temperatures, powder dropping, carbon deposition, heavy metal release, oil conduction, and oil leakage.
- In 2021, ICCPP, the parent company of Voopoo, launched its first ceramic core technology brand, Gene Tree. Its volume is also 50% smaller than existing ceramic cores and weighs about 0.07 grams.
- In July 2023, CAPZA, a European private investment company, acquired a majority stake in Avignon Ceramics SAS.
- In October 2022, LANIK s.r.o. completed the acquisition of Metsch Refractories Inc., a company that specializes in manufacturing refractory ceramics.
- In December 2021, Beehive Industries, LLC, completed the acquisition of Eagle Engineered Solutions, thereby, expanding its additive manufacturing capabilities in the ceramic core market.
Segment Analysis
Based on the product type, the ceramic core market is segmented into SiO2-ZrSiO4, SiO2-Al2O3, and others. Among these product types, SiO2-Al2O3 is expected to remain the biggest product category in the coming years owing to its excellent resistance to high temperatures and stresses, which makes it suitable for applications, particularly where ceramic cores are exposed to extreme heat during the investment casting process.Concurrently, SiO2-ZrSiO4 is preferred for high-performance applications, such as creating internal cavities and passageways within the cast components during the production of complex and high-precision components such as turbine blades and vanes. As a result, it is anticipated to witness the fastest growth in the market during the forecast period.
Based on sourcing type, the market is segmented into in-house and outsourcing. Outsourcing can offer several advantages, such as cost savings, reduced capital investment in equipment and facilities, and access to expert knowledge and technology. This allows the company to focus on its core competencies while relying on the expertise of the outsourcing partner to provide high-quality ceramic cores. As a result, outsourcing is predicted to remain the larger and faster growing in the market over the next five years. On the other hand, major companies in the investment casting business, such as Howmet Aerospace Inc. and PCC Airfoils, LLC, have in-house ceramic core manufacturing capabilities.
Based on the industry type, the ceramic core market is segmented into aerospace & defense, industrial gas turbines, and others. Among these industry types, aerospace & defense is likely to remain the largest as well as the fastest-growing market category during the forecast period. In aerospace & defense, these cores are crucial and are commonly used in investment casting processes for manufacturing complex and high-temperature-resistant components, such as turbine blades, vanes, and other critical components. The ceramic core is used to create intricate internal geometries in these parts.
In terms of regions, North America is expected to remain the largest market for ceramic cores during the forecast period, with the USA, in particular, offering lucrative growth opportunities. The country boasts a robust aerospace & defense industry, where ceramic cores are extensively used in the manufacturing of critical components like turbine blades and vanes. In addition, the country is home to a large number of industry stakeholders, including leading market players, such as Morgan Advanced Materials, CoorsTek, Inc., Howmet Aerospace, Inc., and PCC Airfoils, LLC. The region is also the preferred manufacturing base of aerospace and industrial gas turbine manufacturers and their tier players, including raw material suppliers. On the contrary, Asia-Pacific is likely to be the fastest-growing region during 2023-2028, with China, Japan, and India being the major contributors. China, in particular, is likely to maintain its growth momentum in the coming years, owing to the flourishing local aerospace supply chain and the evolving presence of local players in the country.
The ceramic core market is segmented into the following categories:
Ceramic Core Market, by Product Type
- SiO2-ZrSiO4 (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- SiO2-Al2O3 (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Ceramic Core Market, by Sourcing Type
- In-house (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Outsourcing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Ceramic Core Market, by Application Type
- Airfoils (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Ceramic Core Market, by Industry Type
- Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Industrial Gas Turbine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Ceramic Core Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, The UK, France, Russia, and The Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, and The Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudia Arabia, and Others)
Key Players
The market is fairly populated with the presence of several regional and global players. Several players have distinct capabilities for manufacturing ceramic cores. They have been increasing their R&D investments to cope with the high demand arising from aerospace & defense, industrial gas turbine, automotive, and healthcare applications. Among these players, the established companies with a long history in the industry have a competitive advantage due to their technological know-how, research & development, and established customer relationships.The following are some of the key players in the ceramic core market:
- Morgan Advanced Materials
- PCC Airfoils, LLC
- CoorsTek, Inc.
- Howmet Aerospace, Inc.
- CeramTech GmbH
- Ross Ceramics Limited
- Capital Injection Ceramics Limited
- Avignon Ceramic SAS
- Lanik s.r.o
- Noritake Co. Ltd.
Research Methodology
This strategic assessment report provides a comprehensive analysis that reflects today’s ceramic core market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with an internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
The analyst conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Table of Contents
1. Executive Summary: A Bird’s Eye View of the Market
2. Market Environment Analysis: Study of Factors Affecting the Market Dynamics
3. Ceramic Core Market Assessment (2017-2028) (US$ Million and Thousand Units)
4. Ceramic Core Market Segments’ Analysis (2017-2028) (US$ Million and Thousand Units)
5. Competitive Analysis
6. Strategic Growth Opportunities
7. Company Profile of Key Players (Alphabetically Arranged)
8. Appendix
Companies Mentioned
- Avignon Ceramic SAS
- Capital Injection Ceramics Limited
- CeramTech GmbH
- CoorsTek, Inc.
- Howmet Aerospace Inc.
- Lanik s.r.o
- Morgan Advanced Materials
- Noritake Co. Ltd.
- PCC Airfoils, LLC.
- Ross Ceramics Limited
Methodology
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