The ceramic binders market is expected to record a CAGR of over 8% during the forecast period. The major factor driving the market studied is the rising use of binders in various ceramic applications.
- Environmental concerns and health and safety issues are expected to hinder the growth of the market studied.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and India.
Key Market Trends
Advanced Ceramics Segment to Contribute Significant Demand to the Market
- Advanced ceramics exhibit several exceptional properties, such as high resistance to bending, melting, stretching, corrosion, and wear and tear.
- Their physical stability, heat resistance, chemical inertness, good electrical properties, and suitability to be used in mass products, make them a better alternative to metals and plastics. These are even known for high chemical purity and careful processing.
- There are two main sub-classes of advanced ceramics, namely - electroceramics and structural ceramics.
- Electro ceramics find extensive applications in electronic substrates and packaging, as dielectric and piezoelectric ceramics, magnetic ceramics, and optical ceramics.
- Structural ceramics include - automotive ceramics, aerospace, bio-ceramics, and wear-resistant ceramics. These advanced ceramics find applications in various auto components, such as engine blocks, as they improve engine efficiency and cause less pollution.
- Advanced ceramics can be used in the aerospace sector, where turbine blades can be applied to resist extreme temperature and high-pressure conditions.
- Considering the above-mentioned properties, increasing applications of advanced ceramics are likely to boost the market studied, during the forecast period.
Asia-Pacific Dominating the Ceramic Binders Market
- Asia-Pacific was the largest market for ceramic binders globally. Growth in the regional market was driven by the rising demand from advanced ceramics, in major economies, such as China and India.
- Major players are expected to make investments in the ceramic binders market in countries such as India, Indonesia, Vietnam, etc. Such factors, coupled with the rapid growth of Asia-pacific, are instrumental in the expansion of the ceramic binders market.
- The Chinese manufacturing industry is currently the largest in the world. The manufacturing industry in the country is supported by low labor and material costs during its initial growth phase, and better infrastructure and favorable policies, in recent times.
- The growing middle-class population and urbanization of Western China and India have contributed to the increasing demand and production of vehicles, in the region. Thus, showing the demand for ceramic binders in the forecast period.
- China represents one of the largest aerospace industries, across the world, making Asia-Pacific a dominant market. The Chinese government is investing significantly in the aerospace sector, to bolster its domestic manufacturing, and is planning to build new airports, which is expected to drive the MRO market, over the forecast period. Currently, the country is running 2,185 general aviation aircraft and is planning to operate more than 5,000 aircraft and 500 airports, by 2020.
- Therefore the demand for ceramic binders is expected to increase rapidly, during the forecast period.
The ceramic binders market is fragmented in nature. The major companies include KYOEISHA CHEMICAL Co. Ltd, ZIRCAR Ceramics, 3M, and Almatis, and The DuPont Chemical Company among others.
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