Advanced Ceramic Additives Market Size

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.