Ceramic Balls Market Size – USD 421.2 Million in 2018, Growth - CAGR of 7.6%, Trends –The elevated demand for ceramic balls in the automotive industry

NEW YORK CITY, NY, UNITED STATES, October 26, 2021 /EINPresswire.com/ -- 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.

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. The use of this process helps in producing ceramic balls that are pore-free micron-sized grains and microstructure. The end-users can further alter the property of these balls by opting different combinations of ceramic materials like aluminum nitride, and boron carbide, among others.

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In addition to that, apart from the automotive industry, the market has significant opportunities in the healthcare industry. Its potential in the healthcare sector is associated with application in medical devices, implants, and instruments. The manufacturers and market players associated with the market may further explore these end-user industries, which would positively impact the expansion of the market.

In context to region, Europe occupies a dominant market position. Factors like continuously expanding the aerospace industry, and the well-established automotive sector are some of the factors that are propelling the market growth in this region.

Key participants include:
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.

For the purpose of this report, Reports and Data have segmented the global ceramic balls market according to Raw Material, Product Type, End-user, Application, and Region:
Raw Material Type Outlook (Revenue, USD Million; 2016-2026)

Alumina Based

Silicon-Based

Zirconia Based

Boron Based

Others

Product Type Outlook (Revenue, USD Million; 2016-2026)
Active Ceramic Balls

Inert Ceramic Balls

End-user Type Outlook (Revenue, USD Million; 2016-2026)
Chemical

Automotive

Aerospace

Oil and gas

Others

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Application Type Outlook (Revenue, USD Million; 2016-2026)
Grinding

Bearing

Valve

Others

Regional Outlook (Revenue, USD Million; 2016-2026)
North America

Europe

Asia Pacific

MEA

Latin America

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 generated 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.

In regards to region, Europe occupies the second-largest market share of0% in 2018, with the second-highest CAGR of 8.1% during the forecast period. Factors like continuous expansion of the aerospace industry, and the well-established automotive sector are some of the factors that are boosting the market growth in this region.

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Research Methodology – Ceramic Balls Market
The research methodology adopted by analysts to compile the Ceramic Balls market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Ceramic Ballsmarket.

During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the Ceramic Balls market.

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Tushar Rajput
Reports and Data
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