The North America ceramic balls market accounted to US$ 96.1 Mn in 2018 and is expected to grow at a CAGR of 6.6% during the forecast period 2019 - 2027, to account to US$ 170.2 Mn by 2027
NEW YORK, Nov. 4, 2019 /PRNewswire/ -- The North America ceramic balls market accounted to US$ 96.1 Mn in 2018 and is expected to grow at a CAGR of 6.6% during the forecast period 2019 - 2027, to account to US$ 170.2 Mn by 2027. Ceramic balls are the type of rolling components that are lightweight and offers higher stiffness and lower thermal expansion in various applications such as automotive, chemicals, and aerospace, among others. Ceramic balls are characterized by increased corrosion resistance and higher electrical resistance. These type of balls are produced using different advanced ceramic materials such as alumina, zirconia, and silicon, among others. The materials used in the manufacturing of ceramic balls withstand high heat and friction. Ceramic balls have high resistance to chemicals and are particularly suited to very harsh environments. The growth of the North America ceramic balls market is primarily attributed to boosting factors such as the significant shift of the consumers towards ceramic balls over steel balls and increasing demand from the automotive industry. However, the high cost associated with the manufacturing is projected to retrain the market growth over the forecast period. Whereas, rising demand for ceramic balls in the medical applications and well-established market in the US and Canada are expected to deliver substantial growth opportunities to the ceramic balls market players in the coming future.
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The North America ceramic balls market is bifurcated on the basis of application into aerospace, automotive, chemical, and others.The automotive segment dominated the ceramic balls market in North America, attributing to the fact that these materials are widely used in the manufacturing of various automotive components such as airbags, seat slides & seating tracks, constant velocity joints, seatbelt locking mechanism, double offset joints, spindle bearings, and tripod joints.
Ceramic balls are generally lighter than metals, and this low mass makes them highly appealing to the aerospace industry. The most important properties of ceramic balls include high-temperature resistance, high energy of ablation, resistance to corrosion, electrical insulation, chemical stability, wear resistance, and ability to withstand vibration which further propels the growth of the ceramic balls market in the automotive industry.
A key trend which is projected to impact the North America ceramic balls market in the coming year is the surging demand for ceramic balls from the medical application.The companies have realized the immense potential regarding the usage of ceramic balls in the medical industry.
The companies such as CoorsTek, Inc., MetalBall, Industrial Tectonics Inc., and Toshiba Materials Co., Ltd., are few of the companies that are offering ceramic balls for medical applications in the ceramic balls market. Similar to the chemical industry, pharmaceutical industries are subjected to a sensitive production environment, and ceramic balls and bearings are suitable solutions for medical applications. The hybrid ceramic bearing consists of steel and ceramic, which contain around 40% less in mass than steel ball of similar size. They offer reduced friction, higher limiting speed for a given size, and less ball skidding. The selection criteria of bearings for medical applications include low noise, high speed, resistance to the harsh environment, and service life. Silicon nitride is the commonly used ceramic material for bearing used in the medical industry. The end product in the pharmaceutical industry can be extremely sensitive to temperature changes. Increase in acceptance of ceramic balls in the medical industry for diagnostic & laboratory equipment and surgical & dental tools are expected to provide substantial growth opportunity to the ceramic balls market players in the coming future, and these factors are expected to gain traction in the coming times having a significant impact of the ceramic balls market.
Some of the players present in North America ceramic balls market are Axens, CoorsTek, Inc., Fineway Inc., Global Precision Ball & Roller, IIndustrie Bitossi, Industrial Tectonics Inc., Micro Surface Engineering, Inc., Preciball SA, Topack Ceramics Pvt. Ltd, and Toshiba Materials Co., Ltd. and others.
The overall North America ceramic balls market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Ceramic Balls market.
Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the ceramic balls market.
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