Rising demand from the Europe region will escalate the Ceramic Balls Market at a CAGR of 8.1%
Latest market study on "Ceramic Balls Market to 2027 - Global Analysis and Forecasts by Material (Zirconia, Silicon, Alumina, and Others); Function (Active and Inert); and Application (Aerospace, Automotive, Chemical, and Others)", The Global Ceramic Balls Market is accounted to US$ 442.9 Mn in 2018 and is expected to grow at a CAGR of 8.1% during the forecast period 2019 – 2027, to account to US$ 892.2 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
In Europe region, the ceramic balls market is expected to grow at an exponential rate over the forecast period. Economically strong countries like Germany, Italy, the UK, and Russia have witnessed significant growth in the implementation of technologically advanced solutions. End user industries such as automobile, electronics, aerospace, and medical are the prominent adopters of ceramic balls. For instance, Germany has the largest manufacturing industry in Europe and is the home of world’s top ten automobile manufacturers. The country consists of vehicle manufacturers ranging from passenger cars, light commercial vehicle, heavy commercial vehicle, and off-road vehicle among others. Thus, the demand for ceramic balls in Germany is predominantly generated by the automotive industry as the companies prefer to use advanced materials and solutions in the manufacturing processes.
Ceramic balls market is segmented on the basis of application into aerospace, automotive, chemical, and others. The aerospace manufacturers rely on ceramic balls for various applications such as gyroscopes (gyros), navigation systems, flow meters, avionic instruments, and other aerospace parts. The primary application of ceramic balls in the aerospace industry includes turbine engines and transmissions. The airplanes require optimal weight capacities to enhance flight dynamics and acceleration. Ceramic balls are lightweight and vacuum-compatible which make them ideal for aerospace applications. Thus, owing to the high performance of the ceramic ball in the aerospace industry, the demand for ceramic balls is anticipated to increase over the forecast period.
The market for ceramic balls is concentrated with some very well-established players across the globe. Some of the key players in the ceramic balls market include Devson Catalyst Pvt.Ltd, Coorstek Inc, Axens, Metalball, Topack Ceramics Pvt. Ltd, Industrial Tectonics Inc, Toshiba Materials Co., Ltd, Global Precision Ball & Roller, Fineway Inc, and Industrie Bitossi among others.
The report segments the global Ceramic Balls Market as follows:
Global Ceramic Balls Market – By Material