Advanced Ceramic Additives Market Is Likely To Up Demand At A USD 881.8 Million By 2030


 San Francisco, 25 Oct 2023: The Report Advanced Ceramic Additives Market Size, Share & Trends Analysis Report By Product (Dispersant, Binder), By Application (Automotive, Machinery, Medical), By Region, And Segment Forecasts, 2023 - 2030

The global advanced ceramic additives market size is expected to reach USD 881.8 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 5.5% from 2023 to 2030. The growth is attributable to the increasing utilization of advanced ceramics in producing components in various end-use industries including medical, automotive, and electronics.

Additives are materials incorporated during the manufacturing process of advanced ceramics to enhance and modify their physical and mechanical properties depending on their end-use applications. Commonly known additives are dispersants, binders, plasticizers, foaming and defoaming agents, and lubricants.

Based on product, the market is segmented into dispersants, binders, and others. The dispersants segment is anticipated to witness the highest CAGR over the forecast period. They help stabilize slurry against sedimentation and flocculation and control rheology. Their increasing demand is owing to their low-cost nature and ability to reduce water and energy usage during the manufacturing of advanced ceramics.

In terms of application, the electrical and electronics segment held the largest revenue share in 2022. The rising utilization of advanced ceramics in electrical and electronics applications can be attributed to electrical insulation, precision, and enhanced functionalization offered by them. They shield electrical and electronic devices against electromagnetic radiation. Their high precision and low thermal expansion enhance the measuring efficiency of electrical and electronic devices like sensors.

Region-wise, Europe is anticipated to register a CAGR of 4.6%, in terms of revenue, across the forecast period. Flourishing aerospace, automotive, and defense industries in Europe are driving the product demand in the region as advanced ceramic materials are incorporated increasingly in the manufacturing of automobile components such as spark plugs, fuel injectors, brake discs, and catalyst support systems.

Furthermore, the market faces high competitive rivalry owing to the presence of established players including BASF SE, Dow, Evonik Industries, and Solvay. In March 2023, BASF SE announced the expansion of its polymer dispersants manufacturing facility by expanding the production line in Guangdong, China. The additional capacity will ensure supply for increasing demand, and enable agility and sustainable growth of the market in Asia.

Access Research Report of Advanced Ceramic Additives Market @ https://www.grandviewresearch.com/industry-analysis/advanced-ceramic-additives-market-report

Advanced Ceramic Additives Market Report Highlights

  • The Russia-Ukraine war caused supply-chain disruptions in various industries, impacting oil and gas prices. The war caused international oil prices to surge above USD 100 per barrel. A hike in oil and gas prices due to the war impacted the downstream products (including additives)
  • Raw material price fluctuations impact the cost of additives. For instance, acrylic acid, which is used in polyacrylate dispersants saw a declining price trend from the second half of 2022 onwards after witnessing a price surge in 2021
  • The binder segment is anticipated to witness a CAGR of 5.7%, in terms of revenue, over the forecast period. Binders help the ceramic particles to bind together, which ensures high strength
  • By application, the medical segment constituted a revenue share of nearly 11.0% in 2022. Advanced ceramics are widely employed in medical applications such as implantable medical devices, diagnostic imaging equipment, consumable medical devices, and therapeutic medical devices

Advanced Ceramic Additives Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 597.0 million

Revenue forecast in 2030

USD 881.8 million

Growth rate

CAGR Of 5.5% From 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

List of the Key Players in the Advanced Ceramic Additives Market

  • BASF
  • Bentonite Performance Minerals LLC
  • BOZZETTO GROUP
  • Dow
  • Evonik Industries
  • Solvay

Access Press Release of Advanced Ceramic Additives Market @ https://www.grandviewresearch.com/press-release/global-advanced-ceramic-additives-market

 

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