According to the new market research report on "Ceramic Balls Market by Function (Inert, and Active) Material (Silicon, Alumina, Zirconia), Application (Bearing, Grinding, valve), End-Use Industry (Automotive, Chemical, Aerospace), and Region - Global Forecast to 2023"published by MarketsandMarkets™, the market is projected to grow from USD 433.0 million in 2018 to USD 636.3 million by 2023, at a CAGR of 8.0% between 2018 and 2023.
The increasing use of heat & corrosion resistant materials in the automotive end-use industry is one of the significant factors driving the Ceramic Balls Market.
Based on material, the silicon-based ceramic balls segment of the Ceramic Balls Market is projected to register the highest CAGR during the forecast period
Silicon-based ceramic balls provide superior properties, such as excellent high temperature resistance corrosion resistance, and wear resistance, which have increased their importance in the automotive end-use industry. The properties offered by these ceramic balls are better than their substitutes, such as metals and alloys. This factor is projected to drive the silicon-based Ceramic Balls Market during the forecast period.
The automotive end-use industry is projected to lead the Ceramic Balls Market during the forecast period
Ceramic balls are lightweight, resistant to corrosion & heat, and durable. These properties make them one of the preferred products for the automotive end-use industry. The automotive industry is focusing on finding materials for reducing weight and increasing efficiency of the vehicles. These requirements have encouraged various players in the automotive industry to use ceramic balls as check balls, turbochargers, bearings, engine components, gauges, and other automotive parts. Therefore, the increased use of ceramic balls in the automotive industry is expected to be a major factor driving the market between 2018 and 2023.
APAC is estimated to be the largest market for ceramic balls in 2018, in terms of value.
APAC is estimated to be the largest market for ceramic balls in 2018. The growth of the APAC Ceramic Balls Market can be attributed to the expansion of the automotive industries. The growth is also attributed to the presence of well-established automotive manufacturers in this region.
Key players operating in the global Ceramic Balls Market include Saint-Gobain (France), Honeywell International (US), Axens (France), Toshiba Materials Co., Ltd. (Japan), Coorstek Inc. (US), Fineway Inc. (Canada), Industrial Tectonics Inc. (US), Metalball (France), Global Precision Ball & Roller (US), Devson Catalyst Private Limited (India), and Topack Ceramics Pvt. Ltd. (India).
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