Ceramic Balls are spherical rolling elements that provide higher stiffness, and have lightweight, low thermal expansion, and high corrosion resistance properties. These balls are made using various ceramic materials, such as alumina, silicon, and zirconia. Ceramic Balls Market is projected to reach USD 636.3 million by 2023, at a CAGR of 8.0%. The demand for ceramic balls is expected to increase significantly during the forecast period owing to its widespread usage in various end-use industries such as automotive, chemical, and aerospace.
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Major players operating in the ceramic balls market include Axens (France), Honeywell International (US), Saint-Gobain (France), Industrial Tectonics Inc. (US), Global Precision Ball & Roller (US), Fineway Inc. (Canada), Toshiba Materials Co. Ltd. (Japan), Coorstek Inc. (US), Metalball (France), and Devson Catalyst Private Limited (India). These companies have a strong presence in the market and are undertaking initiatives to improve their business strategies and product portfolios. These companies have adopted partnerships, expansions, acquisitions, and new product developments as the key growth strategies between 2013 and 2018 to strengthen their foothold in the ceramic balls market.
On the basis of application, the ceramic balls market is classified into bearing, grinding, valve, and others. The ceramic balls market in bearing application is projected to register the highest CAGR during the forecast period. Silicon-based ceramic balls have good shock resistance properties that make them ideal for the bearing application. The ceramic balls used in bearings are harder than metal, which helps in reducing the contact with the bearing track.
On the basis of end-use industry, the ceramic balls market has been segmented into automotive, chemical, aerospace and others. The ceramic balls market in the automotive end-use industry is projected to register the highest CAGR between 2018 and 2023.
APAC is the largest market for ceramic balls in 2017. The growth of the ceramic balls market in APAC can be attributed to the expansion of the automotive end-use industry in this region. The demand for ceramic balls in different end-use industries is expected to increase considerably owing to the increasing FDI and growing industrialization in APAC.
Leading Players and their Key Strategies in the Ceramic Balls Market
Industrial Tectonics Inc. has a strong product portfolio, including a variety of spherical and precision balls for the medical, industrial, automotive, aerospace, and other end-use industries. It provides a wide range of customizable products to meet customer requirements and caters to the niche applications of the nuclear and medical industries. As a part of its growth strategy, the company is mainly focused on the expansion strategy. For instance, in November 2015, Industrial Tectonics announced its new facility in Japan to meet the increasing demand for ceramic balls.
Fineway Inc. is also one of the major players in the ceramic balls market. In June 2013, the company expanded its presence by opening offices in Canada. The expansion helped it develop new products according to changing needs of customers. The company is also focused on marketing and R&D to increase its sales in the desired region.
Ceramic Balls Market, by Application:
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