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IN THE NEWSFebruary 22, 2022: Solvay ventures partners with Richland Capital to develop advance materials and manufacturing innovation with technology start-ups in China.
June 11, 2019: Kyocera Corporation to acquire the advanced ceramics business of Germany-based Friatec GmbH
The global advanced ceramic additives market is estimated to grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. The ceramic additives are the materials that are subsumed during the manufacturing of the advanced ceramics to make them sturdy and modify their properties according to the requirement of the end-user. The growth of the market can be attributed to the growing construction sector, especially for commercial and housing purposes. Furthermore, the escalating disposable income of people has promoted the hospitality sector and interior design. It is estimated that there were approximately 185,000 hotels present all across the globe in the year 2018. These hotels require sublime and good-quality basins, tiles, and other ceramic products. Advanced ceramic additives are used to manufacture impeccable basins, sanitary wares, and tableware which is eventually expected to raise the growth of the global advanced ceramic additives market over the forecast period. Similarly, the burgeoning real estate industry is also anticipated to act as a catalyst to escalate market growth. Furthermore, advanced ceramics are utilized in making light-weighted materials in aerospace, automotive, and defence applications. All such factors are projected to raise the growth of the global advanced ceramic additives market over the forecast period. Moreover, advanced ceramic additives have various applications in the healthcare sector in laser surgery, ear implants, pacemakers, femoral head implants for hip replacement, X-ray tubes, pressure sensors, and the dental industry. The proliferating investment in the healthcare sector is also estimated to propel the growth of the global advanced ceramic additives market over the forecast period.
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The market is segmented by application into industrial, automotive, and architecture, out of which, the architecture segment is predicted to hold a significant share in the global advanced ceramic additives market over the forecast period on account of the flourishing construction sector and increasing demand for housing and commercial buildings. Moreover, increasing expenditure on interior decoration is also one of the reasons why the global advanced ceramic additives market is projected to grow during the forecast period.
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.
Regionally, the global advanced ceramic additives market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region is estimated to witness noteworthy growth over the forecast period on the back of higher investment in infrastructure in the region. Also, the region has a population with a high disposable income who are capable to spend more on interior decoration. Additionally, the expanding hospitability sector and rapid urbanization are also estimated to support the growth of the global advanced ceramic additives market over the forecast period.
The market in the Asia Pacific region is expected to acquire a prominent share over the forecast period on account of the evolving construction sector. The governments of developing nations, such as India, Japan, and China, are focusing on infrastructural development. According to data published by the Press Information Bureau of India, government policies, such as, Swachh Bharat Abhiyan in India led to the construction of 10.9 crore household washrooms in rural areas by the end of 2021. This increased the demand for sanitary wares in the whole region. Moreover, it is estimated that in 2020, Asia was the largest consumer of ceramic tiles with net consumption of around 11 billion square meters. On the back of these factors, the global advanced ceramic additives market is expected to grow exponentially over the forecast period.
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The global advanced ceramic additives market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global advanced ceramic additives market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factor for driving the growth of the global advanced ceramic additives market is the rise of the construction sector and medical industry.
The global advanced ceramic additives market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 - 2031.
Adverse environmental impact and increasing tariffs are estimated to hamper the market growth.
The North America region is estimated to provide more business opportunities for the growth of the global advanced ceramic additives market in future owing to the increasing real-estate sector.
The major players in the market are Morgan Advanced Material plc, SANYO CHEMICAL INDUSTRIES, LTD., Giovanni Bozzetto S.p.A., KYOCERA Corporation and Solvay SA.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by material, product, application, and by region.
The architecture segment is anticipated to hold the largest market size over the forecast period and display significant growth opportunities.
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