Advanced Ceramic Additives Market size was valued at USD 592.18 million in 2023 and is expected to exceed USD 1.17 billion by the end of 2036, registering over 5.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of advanced ceramic additives is evaluated at USD 617.76 million.
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 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 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 market over the forecast period.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.4% |
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Base Year Market Size (2023) |
USD 592.18 million |
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Forecast Year Market Size (2036) |
USD 1.17 billion |
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Regional Scope |
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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 market is projected to grow during the forecast period.
Our in-depth analysis of the global market includes the following segment
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By Product |
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By Application
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North America Market Statistics
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. North America industry is anticipated to account for largest revenue share by 2036, impelled by 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 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 market is expected to grow exponentially over the forecast period.
February 22, 2022: Solvay ventures partners with Richland Capital to develop advance materials and manufacturing innovation with technology start-ups in China.
Author Credits: Rajrani Baghel
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