New York, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Research Nester has published a detailed market report on ‘Global Advanced Ceramic Additives Market’ for the forecast period, i.e. 2022 – 2031 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Global Heating Oil Additives Market Size:
Global heating oil additives market is anticipated to progress favorable at a significant CAGR of ~5% throughout the projected timeline. Advanced ceramic additives play a vital role in various medical applications such as dentistry, tissue engineering, and orthopedic treatments among others. Innovations such as novel bonding techniques are expected to improve adoption in dentistry. Moreover, growing prevalence of dental conditions is likely to improve scope for market growth. Recent statistics suggest that over 125 million people in the US have at least a tooth missing due to wear and tear, gum conditions, other diseases, and trauma. The condition is more severe among the aging population which facilitates denture adoption.
Global Advanced Ceramic Additives Market: Key Takeaways
- North America region bags the biggest slice of revenue pie
- Architecture application segment to remain atop revenue chart
- Alumina material segment remains prominent
The World Health Organization (WHO) report on musculoskeletal health affirms over 1.71 billion cases of musculoskeletal conditions globally. Low back pain single-handedly contributes to growing disability across 160 countries. Currently several initiatives are underway to improve the scope of advanced ceramics additives in designing bone grafts with the help of 3D printing technology. The developments are expected to add momentum to market expansion through the forecast period.
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Additionally, favorable milestones in infrastructure development, more specifically in residential construction to bode well with the market expansion for global advanced ceramic additives market. Developed economies such as the US are encouraging new residential development programs aligning with population rise and urbanization. According to the latest data of 2022, the U.S. Department of Housing and Urban Development in conjunction with the US Census Bureau has released residential construction permit data. Total building permits as per the report is 1,685,000. According to UN Environment Program statistics data on building and construction on building and construction development globally, there has been 39.5% spike in construction investments reaching USD 180 billion by 2020 as opposed to USD 129 billion in 2015.
Growing initiatives in promoting sustainable construction is also expected to lend momentum for market growth. Several initiatives are underway to improve commercialization of advanced ceramic additives for sustainable construction. In July 2022, China-based ceramic company Keda Industrial has announced its pipeline project worth over USD 65 million to improve ceramic supply chain in Africa. The company aspires to improve its geographical presence in Ghana and Kenya with new plants for floor tile and sanitary ware production respectively.
Global Advanced Ceramic Additives Market: Regional Overview
The global advanced ceramic additives market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
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North America to Claim the Fastest Revenue Streams with Booming Aerospace and Defense Industries
Infrastructure development in aerospace and defense in North America is expected to mobilize high revenues during the estimated forecast period, therefore making the North America region as the most lucrative market. Advanced ceramics additives are widely used across industries such as defense and aerospace owing to benefits comprising high corrosion and thermal resistance. Industries such as aerospace and defense in the US require resilient and lightweight building materials to sustain environmental impact and harsh working conditions. This has significantly expedited adoption of advanced ceramic additives in the US as they can withstand catastrophic impact besides being cost efficient and environmental friendly. The aerospace and defense industry in North America has been growing consistently, backed by tremendous investments in countries such as the US. Despite the pandemic gloom the US civil aviation trade balance was recorded at over USD 40.6 billion in 2020 according to US Aerospace Industries Association (AIA). Also, in 2020, to offset the pandemic challenges, the US Department of Defense granted approximately USD 4 billion to support aerospace and defense supply chain. Further according to the AIA the US aerospace and defense industry accounted for approximately USD 382 billion contributing to the US GDP. These developments in the aerospace and defense industry in the US is pumping substantial growth in advanced ceramic additives market in North America.
Flourishing Automotive Industry to Mobilize Advanced Ceramic Additives Market in Asia Pacific
The Asia Pacific region is also emerging as a significant market for the advanced ceramic additives market during the forecast period owing to flourishing automotive industry across nations such as China and India. Various properties of advanced ceramic additives such as biocompatibility, thermal resistance, and electrical properties make them a highly sought after component for the automotive industry, therefore several countries with promising automotive industry are vouching for advanced ceramic additives. Ministry of Heavy Industries in India affirmed that the Production Linked Incentive (PLI) Scheme for Automobile & Auto Component successfully garnered ₹ 74,850 crore investment surpassing the target investment estimate of ₹ 42,500 crore. The automotive industry is one of the chief end-use industries for advanced ceramic additives owing to the light-weight built preferred in the auto industry for judicious fuel consumption and reduced carbon footprint. India also has the Automotive Mission Plan 2016-26 which is a joint effort by the country's automotive industry and government of India to spearhead new developments in the Indian automotive industry. Further, according to the recent report by International Trade Administration China is expected to lead the automotive market revenues in terms of production and sales. China's commercial vehicle sales were at 5.23 million units in 2020, up by 20% in 2019.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Advanced Ceramic Additives Market, Segmentation by Application
- Architecture
- Automotive
- Industrial
Out of these, the architecture segment is projected to sustain the largest market share during the forecast years. This is primarily owing to substantial advancement in building and construction activities worldwide. In recent times, sustainable construction is attracting investments to maintain ecological balance. Advanced ceramic additives are preferred in construction owing to an elaborate feature profile comprising high heat resistance, chemically non-reactive, low-cost, availability, biocompatibility, among others. They also help in cladding floor and walls to add decorative and technical functionalities. Construction-based investments are growing significantly across regions and is expected to offer tail wind force for market expansion. Building construction in Europe claimed approximately 3.8% in 2019.
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Global Advanced Ceramic Additives Market, Segmentation by Material
- Alumina
- Zirconate
- Ferrite
Based on material, the alumina segment is expected to secure favorable breakthroughs and rapid adoption, thereby roping in the largest market portion. Besides functional efficiency, alumina is also valued for its cost efficiency and bulk availability. It is widely used in iron product manufacturing to obtain optimum roughing for cast applications. Alumina-based advanced ceramics are highly recommended for electronic applications to build capacitors, resistances, and interconnection among others. Advances in mobile manufacturing is expected to favorably impact segment advancement. In 2021 overall mobile phone sales globally stood at roughly USD 260 billion as opposed to approximately USD 249 billion in 2017.
The global advanced ceramic additives market is also segmented on the basis of product.
Global Advanced Ceramic Additives Market, Segmentation by Product
- Binder
- Dispersant
- Monolithic
- Matrix
- Coatings
Some of the prominent key players and their company profiling mentioned in the global advanced ceramic additives market research report include KYOCERA Corporation, The Dow Chemical Company, CeramTec GmbH, Morgan Advanced Material plc, Elan Technology, IncOrtech, Inc., SANYO CHEMICAL INDUSTRIES, LTD., Giovanni Bozzetto S.p.A., Solvay SA, OC Oerlikon Corporation AG among other prominent players.
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Recent Developments in the Global Advanced Ceramic Additives Market
- In July 2022, BASF collaborated with the Karlsruhe Institute of Technology (KIT) to develop a pioneering ceramic 3D printed microreactor and engineered ceramics.
- In June 2019 Kyocera Corporation announced the acquisition of Germany's Friatec which specializes in advanced ceramics.
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