North America Ceramic Balls Market to Reach US$ 170.2 Mn at CAGR of 6.0% in 2027

North America Ceramic Balls Market to 2027 - Regional Analysis and Forecasts By Material (Zirconia, Silicon, Alumina, and Others), Function (Active and Inert), and Application (Aerospace, Automotive, Chemical, and Others)

Publication Month : Jul 2019

  • Report Code : TIPRE00006276
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 126
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The North America ceramic balls market accounted to US$ 96.1 Mn in 2018 and is expected to grow at a CAGR of 6.0% during the forecast period 2019 - 2027, to account to US$ 170.2 Mn by 2027.

The US accounted for the largest market share in the North America ceramic balls market. The US has the largest fleet of trucks, trailers, and other heavy-duty vehicle production and sales across the region. The revival of the automotive industry, owing to pent-up demand and easy credit availability has indirectly led towards the growth of ceramic balls and bearings in the automotive industry. This is attributed to the rapid rise in the manufacturing of automotive parts. The rise in demand for automotive for varied purposes would raise the production capacity of automotive and related parts. This factors further propel the demand for ceramic balls in the US. Thus, the US accounted for the largest share in the ceramic balls market.

North America Ceramic Balls Markets

Revenue and Forecast, 2018.

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Market Insights

Growing application of ceramic balls in medical industry provides opportunity for the Ceramic Balls market growth

The expansion of applications of ceramic balls is anticipated to provide a huge developing potential for the ceramic balls market in the future. The companies have realized the immense potential regarding the usage of ceramic balls in the medical industry. The companies such as CoorsTek, Inc., MetalBall, Industrial Tectonics Inc., and Toshiba Materials Co., Ltd., are few of the companies that are offering ceramic balls for medical applications. Increase in acceptance of ceramic balls in the medical industry for diagnostic & laboratory equipment and surgical & dental tools are expected to provide substantial growth opportunity to the industry players in the coming future.

High initial cost associated with the use of ceramic balls is projected to restrict market growth

Currently, ceramic balls are replacing other metal balls in several end-use applications owing to their valuable properties of superior heat & corrosion resistance, higher operating speed, and high long term performance. Owing to these properties, ceramic balls are becoming an effective alternative for other metal balls. However, the initial cost associated with the use of ceramic bearings is higher than traditional steel ball bearings. Also, their superior efficiency and long term performance validate the cost for these bearings. Also, the manufacturing of the ceramic balls is relatively expensive as compared to steel and other metal balls which may restrain the ceramic balls market growth. However, enhancement in manufacturing processes of ceramic balls in coming years may reduce the cost of ceramic balls and provide a lucrative opportunity for ceramic balls market over the forecast period.

Material Insights

The North America ceramic balls market by material has been segmented into zirconia, silicon, alumina, and others. The alumina ceramic balls market segment dominated the North America ceramic balls market. Alumina ceramic balls are also used in various industries such as enamel, glass, and chemical industry for fine machining or further processing. These balls can be used at a very high temperature and extreme conditions. It is owing to these properties they are used in applications such as chemical pumps, down-hole pumps, valves, bearings, gauges, flow meters, etc. which further boost the ceramic balls market.

Application Insights

On the basis of application, the North America ceramic balls market has been segmented into aerospace, automotive, chemical, and others. Under application segment, automotive is the leading segment in the North America ceramic balls market. The highest share in the automotive segment is mainly attributed to the high demand and production of the vehicle in this region. For instance, North America has a leverage of developed automotive market and therefore considered to be one of the largest commercial vehicle production and sales nations throughout the world. Mexico has produced a total of USD 92Bn of auto parts for the OEMs and aftermarket clientele in 2017. This factors provides a huge development opportunity for ceramic balls market players from the automotive industry.  

Mexico Ceramic Balls Market by Application

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North America Ceramic Balls Market: Strategic Insights

north-america-ceramic-balls-market
Market Size Value inUS$ 96.1 Million in 2018
Market Size Value byUS$ 170.2 Million by 2027
Growth rateCAGR of 6.0% from 2019-2027
Forecast Period2019-2027
Base Year2019
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Merger & acquisition and expansion were observed as the most adopted strategies in North America ceramic balls market. Few of the recent developments in the North America ceramic balls market are listed below:

2018:

CoorsTek, Inc. opened a research and development (R&D) center in Uden, The Netherlands. The new R&D center is closely connected with the R&D teams of the company in Japan and the United States.


2016:

CoorsTek, Inc. invested $120 million for the development of a new center for advanced materials in Colorado. The CoorsTek Center for Advanced Materials is a modern facility which combines the experience of the experts and the tools needed for innovation.


2016:

Toshiba Materials Co., Ltd., and Kyocera Corporation collaborated to start the development and production of nitride ceramic components.

NORTH AMERICA CERAMIC BALLS MARKET SEGMENTATION

By Material

•   Zirconia•   Silicon•   Alumina•   Others

By Function

•   Active•   Inert

By Application

•   Aerospace•   Automotive•   Chemical•   Others

By Country

  • US
  • Canada
  • Mexico

Company Profiles

  • Axens
  • CoorsTek, Inc.
  • Fineway Inc.
  • Global Precision Ball & Roller
  • IIndustrie Bitossi
  • Industrial Tectonics Inc.
  • Micro Surface Engineering, Inc.
  • Preciball SA
  • Topack Ceramics Pvt. Ltd
  • Toshiba Materials Co., Ltd.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Material, Function, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada

The List of Companies

  1. Axens
  2. CoorsTek, Inc.
  3. Fineway Inc.
  4. Global Precision Ball & Roller
  5. IIndustrie Bitossi
  6. Industrial Tectonics Inc.
  7. Micro Surface Engineering, Inc.
  8. Preciball SA
  9. Topack Ceramics Pvt. Ltd
  10. Toshiba Materials Co., Ltd.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

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  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

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  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

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