Advanced Ceramic Additives Market Size, Share & Trends Analysis Report By Product (Dispersant, Binder), By Application (Automotive, Machinery, Medical, Environmental), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The advanced ceramic additives market size was valued at USD 529.1 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.0% from 2021 to 2028. Growing usage of advanced ceramics especially in medical applications is anticipated to propel the use of additives over the forecast period. Advanced ceramic has emerged as an ideal material to produce medical devices and components. These components require higher tolerances, which can be achieved by appropriate usage of additives. Thus, growth in the medical devices industry is anticipated to prove beneficial for advanced ceramic additives demand.

The demand for advanced ceramics in the U.S. is primarily driven by the increasing utilization of lightweight materials in automotive, aerospace, and defense applications. Its rising usage in these industries has fueled the use of specific additives in accurate compositions, which help optimize the rheology of catalyst wash coats and increase their viscosity.

Furthermore, growth in the medical industry especially post COVID-19 emergence has benefitted market growth. The rising demand for high-quality and functional safety in medical devices and equipment to meet stringent approval standards and withstand challenges in healthcare practices has augmented the need for reliable materials like advanced ceramics.

A rise in the global geriatric population and increasing awareness regarding new technologies and treatments in developing countries such as India, Thailand, and Indonesia are the key factors expected to play a major role in the growth of the medical industry, which, in turn, is anticipated to propel the demand for advanced ceramics and need for additives over the forecast period.

Despite the growth drivers, fluctuation in raw materials is a major restraint for market growth. For instance, polyacrylate dispersants are widely used in advanced ceramics for deflocculating purposes. However, the rising cost of acrylic acid, which is a key raw material used in the production of polyacrylates, impacts the production and availability of polyacrylate dispersants.

Application Insights

Based on application, the electrical and electronics segment constituted the largest revenue share of over 55.0% in 2020. Advanced ceramics exhibit semiconducting, piezoelectric, and magnetic properties, which has propelled their application in the electrical and electronics industry. They are used in producing spark plugs, capacitors, fixed & variable resistors, inductors, and circuit protection devices in the electrical and electronics industry.

Government support and investments in the electronics industry are expected to contribute to the demand for advanced ceramics over the forecast period. For instance, in May 2021, the State Government of Andhra Pradesh in India unveiled its New Electronic Policy focusing on investments in electronics manufacturing clusters and component manufacturing units.

Automotive is a key application segment of the market. Investments in this industry, especially in electric vehicles are anticipated to augment demand for advanced ceramics and benefit additives consumption over the forecast period. Despite the COVID-19 pandemic, which mainly affected the global economic growth, the plug-in vehicles sales were 3.24 million units in 2020, that is, over 43% more than their sales in 2019.

Product Insights

The dispersants segment is anticipated to witness the highest CAGR of 5.3% over the forecast period, in terms of revenue. Dispersants aid the dispersing of powdered ceramics in solvents and help in stabilizing the slurry against sedimentation or flocculation. They help in controlling rheology and can reduce agglomeration and aid in narrow particle size distribution and decrease viscosity.

Growing demand for dispersants in advanced ceramics is attributable to low overall costs and growth in end-use industries like electronics and medical. Dispersants reduce water usage and energy costs considerably, which helps in increasing production output. Furthermore, they help in modifying the slurry properties as per customer requirements.

Binders help the ceramic particles to bind together, which ensures high strength. They improve the mechanical strength of bodies, helping them to remain intact without any breakage before they go through the production process. A typical binder comprises polymers and waxes as two major ingredients.

Regional Insights

North America dominated the advanced ceramic additives market and accounted for the largest revenue share of 35.5% in 2020. The segment is anticipated to register a CAGR of 5.1%, in terms of revenue, over the forecast period. Growing investments in boosting advanced ceramics manufacturing are expected to benefit market growth. For instance, in May 2021, Apple Inc., provided funds worth USD 45 million to Corning Incorporated for enhancing its manufacturing capacity and providing impetus to its R&D activities for new and innovative technologies.

Corning Incorporated is a material science technology innovator that produces advanced ceramic substrates and provides precision glass to Apple Inc., for the iPhone 12 lineup. Apple Inc. has invested around USD 450 million in Corning Incorporated in the past four years to carry out innovations in its ceramic shields.

Asia Pacific accounted for a major revenue share of the market in 2020 owing to its flourishing end-use industries. For instance, in February 2021, CoorsTek announced the commencement of the 1^st phase of an engineered ceramics production plant in Rayong, Thailand. This was a strategic move in establishing a plant in Asia to cater to growing demand. Such initiatives are expected to augment demand for additives over the forecast period.

Key Companies & Market Share Insights

The market is extremely competitive in nature on account of presence of numerous players across the globe. The ongoing coronavirus pandemic had a harsh impact on the sales of the players in 2020 as the production and consumption of advanced ceramics declined. However, as the economies start recovering, manufacturers are striving to reach pre-COVID levels.

Rising interest of renown and global players in ceramics industry is anticipated to positively influence market growth and provide potential opportunities to the manufacturers of additives. For instance, in March 2021, Tata Motors announced partnering with aftermarket players such as 3M, Wurth, and Sikland Stanley BG to offer ‘Ceramic Coating’ treatments for its passenger vehicle models currently on sale. Some of the prominent players in the advanced ceramic additives market include:

• BASF

• Bentonite Performance Minerals LLC

• BOZZETTO GROUP

• Dow

• Evonik Industries

• Solvay

Advanced Ceramic Additives Market Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global advanced ceramic additives market report on the basis of product, application, and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

  • Dispersants

  • Binders

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

  • Electrical & Electronics

  • Automotive

  • Machinery

  • Environmental

  • Medical

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia