Global Ceramic Balls Market to Grow at Formidable Rate During Forecast Period
Increasing investment in
chemical industry along with rising demand in automotive industry to drive
global ceramic balls market through 2024
According to
TechSci Research report, “Global Ceramic
Balls Market By Function, By Material, By Application, By End User, By
Region, Forecast & Opportunities, 2024”, the global
ceramic balls market is expected to grow at a CAGR of around 9% during the
forecast period on account of its increasing demand for ceramic balls in
automotive industry. Ceramic balls are witnessing adoption in the automotive industry
on account of their properties like lightweight, good shock resistance,
durability, stability at high temperature and non-corrosivity. Heavy demand from the automotive
sector and increasing investments in chemical industry are the key factors
fuelling the growth of global ceramic balls market. However,
high cost of production and environmental hazards caused due to manufacturing
of ceramic balls, are likely to hamper the growth of the market during forecast
period.
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Global
ceramic balls market is segmented based on function, material, application,
end-user, company and region. Based
on application, the market can be categorized into bearing, grinding, valve and
others. Bearing application segment is expected to dominate ceramic balls
market during the forecast period. This can be attributed to the shock
resistance properties of ceramic balls. Honeywell International, Inc., Toshiba Materials Co.,
Ltd., Compagnie de Saint-Gobain S.A., Coorstek, Inc., Global Precision Ball
& Roller, Industrial Tectonics Inc., Axens SA, Topack Ceramics Pvt. Ltd.,
Fineway Inc., Devson Catalyst Private Limited, among others are some of the
leading players operating in global ceramic balls market. Companies operating
in the market are using organic strategies such as product launches, mergers
and collaborations to boost their share.
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“Asia-Pacific is expected
to be the largest and fastest growing market for ceramic balls during the
forecast period. This can be attributed to the expansion of automotive industry
and presence of well-established manufacturers in the region. Moreover, increasing
manufacturing spending coupled with strong demand in automotive industry in
countries like China, India, Japan and South East Asian countries is further expected
to drive Asia-Pacific ceramic balls market over the next five years.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Ceramic Balls Market By Function, By
Material, By Application, By End User, By Region, Forecast & Opportunities,
2024” has evaluated the future growth
potential of global ceramic balls market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in ceramic balls market.
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