The rising demand from the chemical industry, elevated use of Insert Ceramic Ball in the automotive sector, and enhanced properties provided by Insert Ceramic Ball have resulted in boosting the Insert Ceramic Ball market.
The Global Insert Ceramic Ball 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 Insert Ceramic Ball 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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Top Lading Players: 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.
Some Key Highlights from the Report:
- The Insert Ceramic Ball 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 Insert Ceramic Ball 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 Insert Ceramic Ball 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.
Segments covered in the report:
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 Insert Ceramic Ball
- Inert Insert Ceramic Ball
End-user Type Outlook (Revenue, USD Million; 2016-2026)
- Chemical
- Automotive
- Aerospace
- Oil and gas
- Others
Application Type Outlook (Revenue, USD Million; 2016-2026)
- Grinding
- Bearing
- Valve
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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