The global ceramics market is set to gain impetus from their rising utilization in various applications because of their possession of beneficial properties. They have low thermal and electrical conductivity, high melting temperatures, and chemical inertness.
This information is given by Fortune Business Insights™ in a published report, titled, “Ceramics Market Size, Share & Industry Analysis, By Type (Traditional, Advanced), By Application (Tiles, Sanitary Wares, Abrasives, Pottery, Bricks & Pipes, Others), By End-Use Industry (Building & Construction, Industrial, Medical, Others) and Regional Forecast, 2019-2026.” The report further states that the ceramics market size stood at USD 133.20 billion in 2018 and is projected to reach USD 243.12 billion by 2026, thereby exhibiting a CAGR of 8.0% during the forecast period between 2019 to 2026.
Drivers & Restraints-Ceramics Market
Rising Demand for Ceramics from Automotive & Medical Industries to Boost Growth
Ceramics are mainly used in the building & caonstruction industry to produce sanitary wares, bricks & pipes, and tiles. It is one of the most preferred materials in this industry because of its characteristics, such as chemical inertness, electrical resistance, hardness, and toughness. Apart from this, the demand for ceramics is rising at a fast pace from the automotive and medical industries. They are used to make mechanical and electrical components, catalytic converter substrates, and sensors in the automotive industry. In the medical industry, it is used to reconstruct fractured bones, replace tooth, and in surgical bone implants. These factors are expected to accelerate the ceramics market growth.
Tiles Segment to Grow Rapidly Backed by Usage of Ceramics to Create Visually Appealing Products
In terms of application, the market is fragmented into bricks & pipes, tiles, pottery, abrasives, sanitary ware, and others. Out of these, the sanitary ware segment held 7.5% ceramics market share in 2018. This growth is attributable to the increasing usage of ceramics for manufacturing a wide range of sanitary wares as they are leak-proof, visually appealing, and are capable of sustaining heavy loads. The tiles segment, on the other hand, currently holds the largest share backed by the extensive usage of this material to create visually appealing tiles. It also provides high strength to the tiles, unlike the conventional clay tiles.
Browse Summary of This Research Report with Detailed Table of Content: https://www.fortunebusinessinsights.com/industry-reports/ceramics-market-101916
Fortune Business Insights™ lists out the names of all the manufacturers operating in the global Ceramics Market. They are as follows:
Blasch Precision Ceramics, Inc.
Murata Manufacturing Co. Ltd.
Momentive Performance Materials Inc.
Morgan Advanced Materials
McDanel Advanced Ceramic Technologies
Applied Ceramics Inc.
Other key players
Regional Analysis-Ceramics Market
Usage of Advanced Technology to Favor Growth in North America
In 2018, North America generated USD 18.65 billion in terms of revenue. The market in this region would expand considerably in the coming years fueled by the ongoing technological advancements, such as nanotechnology and 3D printing. These are rapidly adopted by various manufacturers present in this region. Such innovative techniques would help in developing customized implants for the patients and thereby, surge the value of the products.
Asia Pacific, on the other hand, is anticipated to exhibit significant growth throughout the forecast period stoked by the rising development of infrastructure in this region. Apart from that, the increasing popularity and usage of ceramics owing to the presence of favorable government policies would boost growth. The governments of China and India, for instance, are implementing stringent laws to increase medical tourism and to enhance sanitation in these countries. Coupled with this, the availability of cost-effective raw materials in this region would drive growth.