The rising demand from the chemical industry, elevated use of ceramic balls in the automotive sector, and enhanced properties provided by ceramic balls have resulted in boosting the ceramic balls market.
New York City, United States – June 23, 2020 /MarketersMedia/ —
The Global ceramic balls market is forecast to reach USD 757.2 Million by 2026, according to a new report by Reports and Data. Various factors are supporting the expansion of the market. One of the factors in this regards being, the scope of altering the material’s properties by changing the combination of ceramic materials used for manufacturing it. The scope of developing the properties helps in catering to the specific preference of end-users. As an instance, applications that require fully-dense material with particular material properties, such as hot isostatic pressing (HIP) is applicable in manufacturing these balls after it has been sintered.
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Key players mentioned in the research report are:
Saint-Gobain, Axens, Honeywell International, Toshiba Materials Co., Ltd., Industrial Tectonics Inc., Fineway Inc., Global Precision Ball & Roller, Metalball, Coorstek, Inc., & Devson Catalyst Private Limited.
In terms of applications, the global Ceramic Balls market can be segmented into:
Grinding
Bearing
Valve
Others
In terms of types, the global Ceramic Balls market can be segmented into:
Active Ceramic Balls
Inert Ceramic Balls
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For geographical segmentation, regional supply, application-wise, and type-wise demand, key players, and others, this report covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report sheds light on the competitive landscape of the market that covers the product offerings, services, market shares, and business overview. This Ceramic Balls Market research report covers various dynamic aspects like the market drivers, restraints and challenges, and growth prospects. The prominent and leading companies are profiled in the report.
Further key findings from the report suggest
• The ceramic balls market held a market share of USD 421.2 Million in the year 2018. It is projected to witness a growth rate of 7.6% during the forecast period.
• In regards to raw materials, the alumina based segment generated the highest revenue of USD 151.6 Million in 2018, with a CAGR of 7.9% during the forecast period. Factors like the continuous expansion of the automotive industry, the rising demand for light-weight vehicles and the presence of traits in this ball, like corrosion-resistant, light-weight, and strength contributes to the revenue generated by this segment.
• By product type, the inert ceramic balls segment gen
erated the highest revenue of USD 273.8 Million in 2018 with the fastest growth rate of 8.0% during the forecast period. Factors like the rising demand of these balls in the automotive industry for application in bearing and valves, results in its increasing demand and the revenue generated by the inert ceramic balls segment.
• While discussing end-user, the automotive segment occupies the largest market share of 31.0% in 2018, with the fastest growth rate of 8.5% during the forecast period. The market share held by the automotive segment is attributed to the continuous expansion of the industry, increasing the buying power of individuals in developing regions and rising demand for light-weight automotive parts which increases the demand for these balls in the automotive industry.
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