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. Ceramic powder binder mixture is pressed in a preformed shape for manufacturing. Different blend of ceramic compounds can be used for manufacturing these balls according to the end-users. Properties and increasing use in the automotive industry are significant drivers for the growth of the market. Increasing demand from wind farms expected to drive market growth. Fortune Business Insights™ shares this information in its report titled “Ceramic Balls Market Size, Share, Growth, 2024-2030.”
Segmentation
Alumina Material To Dictate Owing To Its Control At The Firing Temperature And Proper Crystalline Structure
On the basis of material, the market is segmented into alumina, silicon, zirconia, and others. Alumina material had the highest share in 2022 as alumina balls have various benefits over other materials. It has perfect control at the firing temperature and reaches the proper crystalline structure. Silicon balls are also set to have considerable growth due to high adoption in oil & gas, industrial wear, molten metal handling, chemicals, and metal forming.
Automotive Industry To Govern Due To Various Usage
Based on end-user, market is categorized into automotive, oil & gas, chemical, aerospace, medical, and others. The automotive industry is set to lead due to their applications in ball bearings, spark plugs, roller bearings, airbags, valves, engine components, seat slides, and locking mechanisms.
Inert Function To Govern Owing to High Usage
Based on function, market is categorized into inert and active function. Inert function is set to lead the segment due to their large usage in chemical, petrochemical, fertilizer, and environment-sustainable manufacturing companies.
Bearing Segment To Govern Due To Usage Owing To Various Benefits
Based on application, market is categorized into bearing, grinding, valve, and others. Bearing segment is set to lead as ceramic balls are highly used in aerospace and automotive industries with the increased strength and shock resistance capabilities.
Regionally, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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.
Drivers and Restraints
Increasing Demand From Wind Farms Boost Market Trajectory
Increasing demand from wind farms is anticipated to drive ceramic balls market growth. Owing to urbanization, the need for turbine farms which are large in size and can carry heavy load are required. The durability of silicon nitride balls reduces the risk of unscheduled maintenance. SKF remains at the forefront of manufacturing ceramic bearing balls, application, industrialization, and standardization. Opportunities for new material composition for specific requirements of the ceramic balls application are set to propel market development.
However, rapid fluctuation in the prices of raw materials such as alumina, silicon, zirconia, and boron are estimated to limit the market growth.
Regional Insights
Asia Pacific To Lead Market Share Due To Growth in the Automotive Industry
Asia Pacific is expected to govern the ceramic balls market share with the growth of the automotive industry which is also boosting the application in other 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 adoption of electric vehicles due to the rising CO2 emission. The presence of a various material manufacturers is expected to boost the consumption of ceramic balls will boost the European market.
Latin America is anticipated to have strong growth due to the growing rate of industrialization. The usage of silicon carbide and silicon nitride in chemicals and medical industries is also set to push the regional market growth.
Source- https://www.fortunebusinessinsights.com/ceramic-balls-market-107556
Competitive Landscape
New Investments in the Expansion of Production Facilities to Advance Market Path
Key market players include Saint-Gobain, SKF, CoorsTek, Inc., Tsubaki Nakashima Co Ltd, and Tipton Corp. of 2022. Saint-Gobain is a leading producer with a strong presence in Europe. The company has adopted a strategy of investing for new the setting up of new production facility to gain competence. In July 2022, Toshiba Materials Co., Ltd. announced an investment in a new manufacturing facility for silicon nitride balls in its headquarters in Yokohama, Japan. The project has a total budget of USD 38 million and is expected to start in November 2023. It will increase capacity by 50% against the fiscal year 2021.
Key Industry Development
June 2022- CoorsTek invested about USD 50 Million for the creation of new and advanced materials leading to innovation in global markets. The new facility will be of 230,000 square feet.
List of Key Players Profiled in the 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)