The Global Ceramic Balls market was 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 2027. Factors such as the increase in adoption of ceramic balls over steel balls coupled with increasing demand from automotive industry is driving the ceramic balls market growth.
Further, higher spending in the chemical industry is anticipated to foster the ceramic balls market growth.Chemical industry is subjected to a sensitive production environment.
Steel bearings are not a feasible option for this industry as they require bearings with less lubrication need and corrosion-free manufacturing environment.Ceramic bearings are more suitable for extreme chemical, thermal, and mechanical stress conditions owing to their lower density, hardness, and resistance to wear & corrosion.
In chemical industry ceramic ball bearings are mainly used in furnaces, roller mills, pumps, and steam boiler, etc. Thus, growth in acceptance of ceramic bearings and an increase in spending in the chemical industry are expected to provide significant growth opportunity in the global ceramic balls market.
Some of the most common applications of ceramic balls include aerospace, automotive, chemical, and others.Ceramic balls have superior mechanical, thermal, magnetic, chemical, and insulated characteristics such as lightweight, extreme hardness, high-temperature strength, high friction strength, and high corrosion resistance.
Currently, the automotive segment leads the ceramic balls market.Ceramic balls are lightweight, resistant to corrosion & heat, and durable.
These properties make them one of the highly demanded products for the automotive industry.Moreover, the aerospace application segment is anticipated to grow at the fastest pace over the forecast period.
Ceramic balls are lighter than most metals and are stable at high temperatures which further drive the ceramic balls market in the aerospace application over the forecast period.
The market for ceramic balls in Europe is anticipated to grow at a faster pace over the forecast period.Currently, Europe is the second largest market for ceramic balls.
The European region comprises of several major automotive manufacturing plants and produces approximately 19.6 Mn cars, trucks, vans, and buses annually. Robust production of the automobile in Europe region depicts more demand for enhanced solutions that improve the efficiency and speed of operations. Ceramic balls possess several useful properties such as increase in the speed of operation and maintain cooling operating temperature of the operation making them an ideal materials for usage in various applications. Thus, ceramic balls are emerging as an attractive solution for automotive industry in this region.
The overall 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 global ceramic balls market.
It also provides an overview and forecast for the ceramic balls market based on the segmentation provided.Also, 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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Gross Domestic Product
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