The market size of ceramic balls is estimated at USD 433.0 million in 2018 and is projected to reach USD 636.3 million by 2023, at a CAGR of 8.0% between 2018 and 2023
LONDON, July 16, 2018 /PRNewswire/ -- The ceramic balls market is projected to register a CAGR of 8.0% from 2018 to 2023, in terms of value
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The market size of ceramic balls is estimated at USD 433.0 million in 2018 and is projected to reach USD 636.3 million by 2023, at a CAGR of 8.0% between 2018 and 2023. The increasing demand for ceramic balls owing to their superior properties in comparison to other alloys and metals is one of the most significant factors driving the market. The growing automotive industry has also increased the importance of ceramic balls in applications such as bearings, valves, and turbochargers. Apart from this, the significant spending on the chemical industry is contributing to the growth of the ceramic balls market. However, the high cost of manufacturing associated with the ceramic balls acts as a restraint to the growth of the market.
The silicon-based ceramic balls segment is projected to register the highest CAGR from 2018 to 2023, in terms of value
The silicon-based ceramic balls offer superior properties such as high-temperature resistance, abrasion resistance, and low density.These are used in a wide range of industries, such as automotive, aerospace, and chemical for applications, including bearings, valves, grindings, and other machine components.
The ceramic balls market is led by the silicon-based ceramic balls owing to the increased demand from the high-growth industries.
The ceramic balls market in APAC is projected to register the highest CAGR, between 2018 and 2023, in terms of value
The ceramic balls market in APAC is projected to register the highest CAGR during the forecast period, in terms of value.This growth can be attributed to the increasing demand for ceramic balls from the automotive and chemical industries.
Initiatives undertaken by governments of various APAC countries for automotive project investments are also contributing to the growth of the ceramic balls market in the region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted as follows:
• By Company Type- Tier 1 - 37%, Tier 2 - 42%, and Tier 3 - 21%
• By Designation- C level - 30%, Director level - 25%, and Others - 45%
• By Region- APAC - 40%, Europe - 27%, North America - 20%, Middle East & Africa - 12%, and Latin America - 13%
This report provides a comprehensive analysis of the key companies listed below:
• Axens (France)
• Honeywell International (US)
• Saint-Gobain (France)
• Industrial Tectonics Inc. (US)
• Toshiba Materials Co., Ltd. (Japan)
• Global Precision Ball & Roller (US)
• Fineway Inc. (Canada)
• Coorstek Inc. (US)
• Metalball (France)
• Devson Catalyst Private Limited (India)
• Topack Ceramics Pvt. Ltd. (India)
Research Coverage
This report covers the ceramic balls market and forecasts the size of the market till 2023.The report includes the segmentation of the ceramic balls market based on material, function, end-use industry, application, and region.
The Porter's Five Forces analysis and key market dynamics such as drivers, restraints, challenges, and opportunities influencing the growth of the ceramic balls market have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the market.
Benefits of Buying the Report:
The report is expected to help market leaders/new entrants in the ceramic balls market in the following ways:
• This report segments the ceramic balls market and provides the closest approximation of revenues for the overall market and its subsegments across different verticals and regions.
• The report helps stakeholders understand the pulse of the market and provides information on key drivers, restraints, challenges, and opportunities of the ceramic balls market.
• This report is also expected to help stakeholders understand their competitors and gain insights to augment their positions in the ceramic balls market. The competitive landscape section includes the ecosystem of competitors and detailed information on new product developments, expansions, partnerships, and acquisitions.
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