According to latest research, ceramic binder market is projected to grow with a CAGR of 7% – 9% for the forecast period of 2021-2031.
Demand for this product will be driven by increasing construction activities across all regional markets. Due to significant growth of construction industry, application in residential housing and rising government expenditure on infrastructure development, the market for this product is set to prosper during the upcoming decade.
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What is Driving Demand for Ceramic Binders?
Demand for ceramic binders has been increasing due to its key benefits such as the imparting of mechanical strength to ceramic products, being inexpensive, and having a long shelf life. These binders help ceramic materials to pass production steps before firing, without breakage.
The product finds significant application in the production of pottery items, porcelain glasses, abrasives, refractory materials, heat shields in space shuttles, brake discs of sports cars, and spherical heads of artificial hip joints. Ceramic binders are highly used in dentistry for making artificial denture teeth, crowns, bridges, implants, and much more.
New developments in the product range of ceramic binders are boosting the demand for this product. Companies are innovating and producing binders that have minimal ash content and are re-usable. The effectiveness and strength of binders is being increased so that a small amount applied can serve the purpose. Such innovations will boost the growth of ceramic binders industry.
Residential Households to Drive Ceramic Binders Market
With expanding economies and increase in residential housing construction, there will be a robust growth in the market of ceramic binders in the forecast period. Ceramic adhesives are widely used for building interiors including kitchen, bathroom fittings, tiles, and polished countertop surfaces.
Lately, ceramic show pieces and decorative items have gained immense popularity. They are replacing glass and metal items owing to their low prices and light weight. The products are also not subject to attack from microorganisms and are easy to handle. This increase in demand of ceramic products will ensure robust growth of ceramic binders market as quality ceramic products cannot be made without these binders.
Asia-Pacific Ceramic Binders Market Outlook
Asia Pacific is leading with the largest market share in the global ceramic binder market due to rising demand from advanced ceramics in major economies like China, Japan, South Korea and India.
Growing urbanization and increase in population moving to cities, in countries such as India, is leading to an increase in demand from construction, crockery and industrial applications, which in turn increases the requirement of chemical binders.
China is one of the largest ceramic product manufacturer and is investing significantly in the sector. Growing demand for ceramic products from various end use sectors would continue to drive demand for the market.
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North America & Europe Ceramic Binders Market Outlook
The market in North America is expected to expand at a steady pace during the forecast period. This shall be owing to the presence of many top key player companies native to this region. With the region being home to leading companies, the supply for ceramic binders will remain plentiful, helping cater to local demand. These companies are innovating products that will meet the demands and preferences of modern times.
With increasing preference and sales of fancy, durable and inexpensive ceramic products across the U.S. and Canada, the market for this product will continue to grow in the forecast period.
Countries in Europe are expected to witness a steady growth due to a significant trends such as house decoration using ceramic items. Ceramic products have gained immense popularity in the region.
Also, tourism is a highly invested in sector in the European region. Rise in tourism and expansion of related infrastructure will lead to new growth opportunities for the market in this region.
Who are the Key Manufacturers and Suppliers of Ceramic Binders?
Some of the key players operating in the global market are:
- 3M Company (US)
- DuPont (US)
- Ecolab (US)
- Imerys Group (France)
- Kuraray Co Ltd. (Japan)
- Kyoeisha Chemical Co Ltd. (Japan)
- Polymer Chemistry Innovations Inc. (US)
- Ransom and Randolph (US)
- Sekisui Specialty Chemicals America (US)
Companies like Kuraray Co Ltd. are developing formulations and launching new products such as the Kuraray POVAL, which breaks down completely into water and carbon dioxide, hence contributing to the robust growth in ceramic binder demands.
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