Ceramic Balls Market - Forecast(2023 - 2028)

Ceramic Balls Market Overview

The Ceramic Balls Market size is estimated to reach US$788.2 million by 2027 after growing at a CAGR of 5.5% during the forecast period 2022-2027. A ceramic ball is a spherical rolling element with greater electrical resistance, increased corrosion resistance, lighter weight, low thermal expansion and superior stiffness than a steel ball. It contains silicon, alumina, zirconia and boron. They boost product efficiency by improving the overall system's productivity and performance. Its widespread application in a variety of end-use industries, including automotive, chemical and aerospace, is expected to further boost the market growth. Ceramic balls are also lightweight, which is important for the latest technology manufacturing processes in the aerospace industry, driving the market growth of ceramic balls in the aerospace industry. The COVID-19 pandemic majorly impacted the Ceramic Balls Market due to restricted production, supply chain disruption, logistics restrictions and a fall in demand. However, with robust growth and flourishing applications across major industries such as aerospace, electrical & electronics and others, the Ceramic Balls Market size is anticipated to grow rapidly during the forecast period.

Ceramic Balls Report Coverage

The report: “Ceramic Balls Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Ceramic Balls industry.

By Material Type: Silicon Based, Alumina Based, Zirconia Based and Others.
By Function: Inert Ceramic Balls and Active Ceramic Balls.
By Application: Bearing, Grinding, Valve and Others.
By End-use Industry: Automotive [Passenger Vehicles (PV), Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV)], Aerospace (Commercial, Military and Others), Chemical and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World [the Middle East (Saudi Arabia, the UAE, Israel and the Rest of the Middle East) and Africa (South Africa, Nigeria and the Rest of Africa)].

Key Takeaways

• Asia-Pacific dominates the Ceramic Balls Market size. The increase in demand from end-user sectors, such as automotive, aerospace and chemical is the main factor driving the region's growth.
• Increased demand for lightweight electric vehicles is expected to contribute to the rising demand for Ceramic Balls Market.
• The expansion of the aerospace industry, in conjunction with the use of Ceramic Balls in multi-functional and high-performance parts, drives the market growth of the Ceramic Balls Market
• However, fluctuation in raw material prices and higher manufacturing costs would hamper the market growth.

Figure: Ceramic Balls Market Revenue Share, By Geography, 2021 (%)

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Ceramic Balls Market Segment Analysis – By Type

The Alumina-based Ceramic Balls held a significant share in the Ceramic Balls Market in 2021 and are projected to grow at a CAGR of 5.7% during the forecast period 2022-2027, owing to extensive characteristics provided by alumina over other material types such as silicon, zirconia and boron. Alumina-based ceramic balls provide extreme abrasion resistance, high strength and resistance to furnace atmospheres. Alumina balls are used in a variety of applications, including down-hole pumps, chemical pumps, flow meters, valves and bearings. It is widely used in automotive bearings for seat slides and safety restraints, which drives the market growth of the Ceramic Balls Market. Thus, owing to tremendous advantages and availability over material types such as silicon, zirconia and boron, the demand for alumina is growing for application in major industries. These factors boost the growth opportunities for the Ceramic Balls industry in the projected years.

Ceramic Balls Market Segment Analysis – By End-use Industry

Automotive held a significant share in the Ceramic Balls Market in 2021 and is expected to grow at a CAGR of 5.9% during the forecast period 2022-2027, owing to the increasing usage of ceramics balls in automotive components. Ceramic balls are widely used in the automotive industry due to their benefits such as shock resistance, higher strength and faster operational speed. Ceramic balls are expected to drive demand for automotive applications due to their advantageous applications in roller bearings, ball bearings, spark plugs, airbags, seat slides, valves, engine components and locking mechanisms. According to the Energy Information Administration (EIA), by 2035, there would be 1.7 million automobiles worldwide. According to the International Organization of Motor Vehicle Manufacturers (OICA), automobile output increased by 10% in the first nine months of 2021, to 57.26 million vehicles, up from 52.15 million units in the same period last year. With the increasing automotive production, the demand for Ceramic Balls would also increase, as a result of which the Ceramic Balls industry would be flourished over the forecast period.

Ceramic Balls Market Segment Analysis – By Geography

The Asia-Pacific region held up to 43% share in the Ceramic Balls Market in 2021. The automotive sector in Asia-Pacific is rapidly growing due to a flourishing base for automotive manufacturers, demand for automotive compounds and a rise in production. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), automotive production and Vietnam grew by 1.2 percent and 5.5 percent from the previous year to 571,632 and 250,000 units, respectively, in 2019. In November 2020, Boeing estimated that China's airlines would spend US$1.4 trillion on 8,600 new planes and US$1.7 trillion on commercial aircraft services over the next 20 years. According to India Brand Equity Foundation (IBEF), India’s domestic automobile production increased at a 2.36 percent CAGR from FY16 to FY20, with 26.36 million vehicles produced in FY20. According to the Japan Automobile Manufacturers Association (JAMA), automobile production in Japan increased in November from 667,462 units in October to 6,90,311 units. With the robust growth of the automotive industry in Asia-Pacific, the demand for ceramic balls for application in bearing, grinding, valve and others in automotive would rise. Thus, the growth of ceramic balls in the region is being aided by the increasing automotive sector in APAC, thereby dominating the market in the Asia-Pacific region.

Ceramic Balls Market Drivers

Bolstering Growth of the Aerospace Industry:

Ceramic Balls are widely utilized in the aerospace industry, which drives the Ceramic Balls Market growth. Ceramic balls are used in the production of gyroscopes, flow meters, airframes and other components in the aerospace industry. Additionally, ceramic balls have lightweight qualities that are crucial for the most advanced manufacturing procedures in the aerospace industry. Increasing demand from the aerospace industry is driving the market growth of the Ceramic Balls Market. According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet, for example, is expected to grow from 7,397 in 2018 to 8,270 by 2037. According to the Boeing Commercial Market Outlook 2021-2040, North America would require 9,160 new airplane deliveries by the end of 2040 and airline fleet growth in North America is expected to be 1.7 percent between 2019 and 2040. According to the India Equity Foundation, by 2030, the Indian aerospace and defense (A&D) sector is expected to reach US$70 billion. With the rise in the aerospace industry across the globe, the demand for Ceramic Balls is anticipated to rise for various applications in bearing, grinding, valve and others, which is projected to boost the market growth in the aerospace industry during the forecast period.

Flourishing Electric Vehicle Production:

Ceramic Balls are widely utilized in electric vehicle production, which drives the Ceramic Balls Market growth. This can be attributed to several benefits provided by ceramic ball bearings, including improved acceleration capability, lower friction, improved wear resistance and higher speed. Moreover, higher demand for lightweight electric vehicles is likely to contribute to the products' rising popularity. According to the International Energy Agency (IEA), global electric vehicle production reached 10 million in 2020, showing a 43 percent increase over 2019. According to the Indian Brand Equity Foundation, the Indian EV market is also rapidly evolving, with close to 0.32 million vehicles sold in 2021, a 168 percent increase year on year. According to Niti Aayog, in September 2021, the Production-Linked Incentive (PLI) scheme worth INR 26,058 crore (US$3.5 billion) was approved for automotive manufacturing focusing on electric vehicles and hydrogen fuel cell vehicles. With the rise in the demand for electric vehicles and increasing government investment across the globe, the demand for Ceramic Balls is anticipated to rise for various applications, which is projected to boost the market growth in the electric vehicles industry during the forecast period.

Ceramic Balls Market Challenges

High Manufacturing Costs and Raw Material Price Fluctuations:

Price fluctuations in raw materials used for making Ceramic Balls are a significant concern for the Ceramic Balls Market. Rapid fluctuations in the prices of raw materials like silicon, alumina, zirconia and boron, as well as a lack of product availability, are expected to hinder the Ceramic Balls Market in the near future. Furthermore, rising environmental and health risks such as chronic inhalation, asthma and other respiratory problems from manufacturing operations are expected to impose stringent regulations, limiting the growth of the Ceramic Balls Market over the forecast period.

Ceramic Balls Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Ceramic Balls Market. The top 10 companies in the Ceramic Balls Market are:

1. Axens
2. Honeywell International
3. Saint-Gobain
4. Industrial Tectonics Inc.
5. Toshiba Materials Co. Ltd.
6. Global Precision Ball & Roller
7. Fineway Inc.
8. Coorstek, Inc.
9. Devson Catalyst Private Limited
10. Topack Ceramics Pvt. Ltd.

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