Pune, India, May 31, 2023 (GLOBE NEWSWIRE) -- The global ceramic balls market size was valued at USD 513.3 million in 2022 and is projected to reach a valuation of USD 533.9 million in 2023. The market is expected to reach USD 757.7 million by 2030 with a CAGR of 5.1% during the forecast period. Fortune Business Insights™ shares this information in its report titled “Ceramic Balls Market, 2023-2030.”
Ceramic balls are made from a mixture of various ceramic materials which are pressed in a preformed shape for manufacturing. Properties and increasing use in the automotive industry are significant drivers for the growth of the market. Increasing demand from wind farms is expected to drive market growth.
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List of Key Players Profiled in the Ceramic Balls Market Report:
- Saint-Gobain (France)
- SKF (Sweden)
- CoorsTek, Inc. (U.S.)
- Tsubaki Nakashima Co., Ltd. (Japan)
- Tipton Corp. (Japan)
- Toshiba Materials Co. Ltd. (Japan)
- Fineway Inc. (Canada)
- Topack Ceramics Pvt. Ltd. (India)
- Devson Catalyst Private Limited (India)
- Madhya Bharat Ceramics (India)
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Competitive Landscape
Saint-Gobain Is A Leading Producer With The Strong Presence In Europe
The market has Saint-Gobain, SKF, CoorsTek, Inc., Tsubaki Nakashima Co Ltd, and Tipton Corp. as the leading players in 2022. Saint-Gobain is a leading producer with the strong presence in Europe. The company has adopted strategy of new product development to gain competence. In September 2019, Saint-Gobain Norpro announced the development of new Accu sphere product which comes in small and large submicron pore sizes. The project is under alpha- alumina phase and is anticipated to support Saint-Gobain innovation strategy to identify the optimum solutions for the customers.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 5.1 % |
| 2030 Value Projection | USD 757.7 Million |
| Market Size in 2022 | USD 513.3 Million |
| Historical Data | 2019-2021 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Ceramic Balls Market Impact Factor | Rising Demand From EV Automobile Manufacturers To Boost Market Trajectory |
| Asia Pacific To Lead Industry Share Due To Expansion Of The Automotive Market |
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Key Industry Development
- October 2022- SKF and NIO announced the extension of their strategic partnership for supplying the ceramic ball bearings and technical expertise to support NIO’s product development and global expansion plans.
COVID-19 Impact:
Decline In The Automobile And Petrochemical Industries Affected Market Growth
The COVID-19 pandemic affected the automobile and petrochemical industries. Disruptions in cash flow and supply chains, resource allocation, social distancing, and others affected market growth. As the government imposed lockdowns, production activities were halted, leading to a massive loss for ceramic ball manufacturers. The work stoppage impacted the company's revenues, jobs, and order delays.
Segmentation
Alumina Material To Dictate Owing To Its Characteristics
On the basis of material, the market is segmented into alumina, silicon, zirconia, and others. Alumina material had the highest share in 2022 owing to its characteristics such as higher density, regular shape, efficient classifying, assorting, and superior grinding efficiency. Silicon balls also find their application in car clutches, car brakes, and ceramic plates in bulletproof vests owing to their excellent mechanical properties.
Automotive Industry To Govern Due To Usage Owing to Various Benefits
Based on end-user, the market is categorized into automotive, oil & gas, chemical, aerospace, medical, and others. The automotive industry is set to lead due to wide usage owing to the benefits such as higher strength, shock resistance, and faster operational speed. In aerospace manufacturing, they are used in flow meters, gyroscopes, and airframes.
Inert Function To Govern Due To Usage as They Can Withstand High Pressure And Temperature
Based on function, the market is categorized into inert and active functions. The inert function is set to lead the segment with rising demand from the automotive industry as they can take up on high pressure and temperature. They find their main application in increasing the level of gas and liquid distribution points to support the low-strength active catalyst.
Bearing Segment To Govern With Demand in Various Industries
Based on application, the market is categorized into bearing, grinding, valve, and others. Bearing segment is set to lead as ceramic balls are high-purity materials used in grinding with alumina compounds and some proportionate zircon manufactured with the isotactic procedure. This makes them suitable in the aerospace and automotive industries.
Regionally, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Drivers and Restraints
Rising Demand From EV Automobile Manufacturers To Boost Market Trajectory
Rising demand from EV automobile manufacturers is anticipated to drive ceramic balls market growth. Ceramic balls are suitable for applications with high speeds, loads, and temperatures. Longer life and the need for proper lubrication make this material appropriate for extreme applications. EV engineers like to reduce weight and these balls cause less friction within the bearing assembly, meaning they require less lubricant, experience less wear, cause less raceway stress, and have a lower operating temperature. The EV industry is developing and will find ways to innovate and improve its key technologies such as chargers, batteries, and electric motors.
However, the presence of various substitutes and fluctuation in the prices of raw materials are estimated to limit the market growth.
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Regional Insights
Asia Pacific To Lead Market Share Due To Expansion Of The Automotive Industry
Asia Pacific is expected to govern the ceramic balls market share due to the expansion of the automotive industry in the region boosting various sectors of the region. The market was valued at USD 248.4 million in 2022 and is also set to have the highest CAGR.
Europe is also expected to witness considerable market growth due to the rapid increase in the automobile sector in Germany. Growth in the automotive industry and the adoption of electric vehicles due to the rising CO2 emission will boost the European market.
Latin America is anticipated to have strong growth due to the increasing rate of industrialization. The growing use of silicon carbide and silicon nitride in chemicals and medical industries is also set to push the regional market growth.
Detailed Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Regions
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advance Alumina
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights on Impact of COVID-19 on Global Ceramic Balls Industry
- Supply Chain Analysis & Challenges due to Covid-19
- Steps taken by Government / Companies to Overcome this Impact
- Potential Challenges and Opportunities due to COVID-19 Outbreak
- Global Ceramic Balls Industry Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- By Material (Value)
- Silicon
- Alumina
- Zirconia
- Others
- By Function (Value)
- Inert
- Active
- By Application (Value)
- Bearing
- Grinding
- Valve
- Others
- By End-User (Value)
- Automotive
- Oil & Gas
- Chemical
- Aerospace
- Medical
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- By Region (Value)
TOC Continued…!
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