The Ceramic balls market valued at US$ 442.9 million in 2018 and is expected to grow at a CAGR of 8.1% during the forecast period 2019 – 2027, to generate US$ 892.2 million by 2027.
The global ceramic balls market is driven by factors such as a significant shift of the consumers towards ceramic balls over steel balls and rising demand from the automotive industry. However, the high cost of manufacturing and high initial cost associated with the use of ceramic balls is anticipated 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 Asia Pacific and European countries are expected to deliver substantial growth opportunities to the industry players in the coming future.
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Leading Ceramic Balls Market Players:
- Devson Catalyst Pvt. Ltd.
- Coorstek Inc.
- Axens
- Metalball
- Topack Ceramics Pvt. Ltd
- Industrial Tectonics Inc.
- Toshiba Materials Co., Ltd
- Global Precision Ball & Roller
- Fineway Inc.
- Industrie Bitossi
Favorable strategies driving the growth of ceramic balls in Asia Pacific
The Asian manufacturing sector is known to rapidly adopt innovation accelerators that includes advanced technologies and materials in order to improve the operational efficiency. Moreover, rise in the manufacturing spending of the region has grown significantly and is further anticipated to grow at a highest estimated growth rate. Ball bearings are extensively used in aerospace, automotive, medical, and mechanical equipment including others. These bearings are commonly made using materials such as ceramic, metals, and plastic materials. However, as compared to other materials, ceramic ball bearings provide added benefits such as reduced weight, minimum noise, and faster speed. Thus, implementation of ceramic ball bearings in several end-use industries is expected to offer significant growth opportunity to the industry players in this region. Additionally, the region’s growth is rapidly driven by expanding automotive industry especially for autonomous and electric vehicles. This increases the demand for high-performance bearings which in turn boost the market of ceramic balls.
Application Insights
The global ceramic balls market by application was led by automotive segment. Ceramic balls are ideal for automotive application. Ceramic balls are lighter, stiffer, smoother, harder, corrosion resistant, and require less lubrication than their steel counterparts. This means that these balls run at higher speeds and higher operating temperatures with lower torque. Moreover, ceramic balls for automotive applications extend from engine components to airbags. Other applications include spark plugs, airbags, and seatbelt locking mechanisms, seat slides, roller bearings, ball bearings, clutch assemblies, valve, and other engine parts. Therefore, the wide application of ceramic balls in variety of vehicle component drives the overall ceramic balls market in the automotive industry.
GLOBAL CERAMIC BALLS MARKET SEGMENTATION
By Material
- Zirconia
- Silicon
- Alumina
- Others
By Function
- Active
- Inert
By Application
- Aerospace
- Automotive
- Chemical
- Others
Reason to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Ceramic Balls Market
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Ceramic Balls Market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
Strategic Insights
Mergers & acquisition is a strategy commonly adopted by the companies to expand its footprint across the world and to fulfill the growing demand of market. The players operating in ceramic balls market mainly concentrate towards the merger and acquisition in order to increase business revenue and geographical imprints throughout the globe. Most of the merger & acquisitions were observed in the Europe and Asia Pacific Regions. Expansion strategy is basically adopted by the companies to expand its footprint across the world and to fulfill the growing demand of market. For instance, CoorsTek, Inc. acquired the Philips ceramics operation in Uden, Netherlands. Through this acquisition the company expands its ongoing strategic partnership with Philips, and will serve both Philips and other regional customers from Uden. Also, the players present in ceramic balls market mainly concentrate towards the expansion and investment in research and development to enlarge the customer base across the world which also permit the players to maintain their brand name globally. Recently, in 2018, CoorsTek, Inc. announced the opening of a new research and development (R&D) center in Uden, The Netherlands. This new European R&D center is closely connected with CoorsTek R&D teams in the United States and Japan, and is dedicated to developing technical ceramics capabilities to support CoorsTek customers around the world.
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