PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397115
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397115
Advanced Ceramic Additives Market size was valued at USD 670 Million in 2022, expanding at a CAGR of 4.5% from 2023 to 2030.
Advanced ceramics, often referred to as technical ceramics or engineered ceramics, are created with specific attention to address the weaknesses of conventional ceramics while simultaneously displaying improved qualities. These ceramics can satisfy the needs of many businesses that employ them. Thermal stability is one of these ceramics' exceptional qualities.
In electrical and electronics applications, advanced ceramic additives are important. Heat sinks, actuators, circuit carriers, and sensors all make heavy use of them. Electronics that require a lot of electricity employ ceramic heat sinks. Ceramics are materials with magnetic, superconducting, piezoelectric, and semiconducting characteristics that are typically thought of as insulators. Power electronics, electronic sensors, and wafer fabrication all make extensive use of these. For example, the US Census Bureau's statistics indicate that, in July 2022, the US had a 14.8% rise in electronic component production compared to the same month in 2021. But as agricultural diseases increase, climate change occurs, and new plant-breeding methods necessitate efficient nutrition, the demand for Advanced Ceramics additives grows.
The Global Advanced Ceramic Additives Market is segmented based on Product, Application, and Region.
Based on the product, the market is bifurcated into Binders, Dispersants and Others. The Dispersants segment is expected to hold the largest market share during the forecast period. Dispersants stabilize the slurry to prevent sedimentation or flocculation and assist spread of powdered ceramics in solvents. They aid in narrowing the particle size distribution, reducing viscosity, reducing agglomeration, and helping to manage rheology. Low overall prices and the expansion of end-use sectors like electronics and medical are responsible for the growing need for dispersants in advanced ceramics. Dispersants contribute to higher manufacturing productivity by significantly lowering energy and water use. They also assist in altering the qualities of the slurry to meet the needs of the consumer.
Based on the application, the industry is segmented into Automotive, Electrical & Electronics, Machinery, Medical, Environmental and Others. The Electrical & Electronics segment is expected to capture a substantial market share during the forecast period. The electrical and electronics industries have benefited greatly from the use of advanced ceramics because of their semiconducting, piezoelectric, and magnetic characteristics. In the electrical and electronics sector, they are utilized in the production of spark plugs, capacitors, fixed and variable resistors, inductors, and circuit protection devices.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia Pacific is expected to dominate the market during the forecast period. The main driver of this development is the rise in demand for sophisticated ceramic additives across a wide range of industries, including energy and power, automotive, medical, aerospace, and electrical and electronics. Several emerging nations, including China, India, Indonesia, and Malaysia, are among the main ones assisting in the market's expansion. For instance, the China Passenger Car Association reports that overall sales of electric passenger cars in China rose by 2.99 million units in 2021, indicating a 169.1% rise over 2020. Furthermore, India added 1.45 GW of wind capacity in 2021, a 30% increase over the 1.11 GW built in 2020, according to the Ministry of New and Renewable Energy.
Due to the existence of several businesses all over the world, the industry is tremendously competitive. Growing demand for advanced ceramics is driving market participants to diversify their product offerings and extend their customer base. The key players operating in the market are Bozzetto Group, BASF SE, Chukyo Yushi Co., Ltd, Bentonite Performance Minerals LLC, Evonik Industries, Dow, Sanyo Chemical Industries. Ltd., Lamberti S.P.A., Solvay and Wollner GmbH among others.
In April 2023, the purchase of Asbury Carbons, Inc., a producer of advanced materials solutions, was announced by Mills Rock Advanced Material, a subsidiary of Mills Rock Capital. Due to expanding market potential, the purchase was made to broaden its business portfolio and increase its investment in the advanced materials and additive solutions industries.