Press Release

Global Ceramic Balls Market to Grow at Formidable Rate During Forecast Period

Increasing investment in chemical industry along with rising demand in automotive industry to drive global ceramic balls market through 2024

According to TechSci Research report, Global Ceramic Balls Market By Function, By Material, By Application, By End User, By Region, Forecast & Opportunities, 2024, the global ceramic balls market is expected to grow at a CAGR of around 9% during the forecast period on account of its increasing demand for ceramic balls in automotive industry. Ceramic balls are witnessing adoption in the automotive industry on account of their properties like lightweight, good shock resistance, durability, stability at high temperature and non-corrosivity. Heavy demand from the automotive sector and increasing investments in chemical industry are the key factors fuelling the growth of global ceramic balls market. However, high cost of production and environmental hazards caused due to manufacturing of ceramic balls, are likely to hamper the growth of the market during forecast period.

Browse market data Tables and Figures spread through 110 Pages and an in-depth TOC on " Global Ceramic Balls Market"

Global ceramic balls market is segmented based on function, material, application, end-user, company and region. Based on application, the market can be categorized into bearing, grinding, valve and others. Bearing application segment is expected to dominate ceramic balls market during the forecast period. This can be attributed to the shock resistance properties of ceramic balls. Honeywell International, Inc., Toshiba Materials Co., Ltd., Compagnie de Saint-Gobain S.A., Coorstek, Inc., Global Precision Ball & Roller, Industrial Tectonics Inc., Axens SA, Topack Ceramics Pvt. Ltd., Fineway Inc., Devson Catalyst Private Limited, among others are some of the leading players operating in global ceramic balls market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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Asia-Pacific is expected to be the largest and fastest growing market for ceramic balls during the forecast period. This can be attributed to the expansion of automotive industry and presence of well-established manufacturers in the region. Moreover, increasing manufacturing spending coupled with strong demand in automotive industry in countries like China, India, Japan and South East Asian countries is further expected to drive Asia-Pacific ceramic balls market over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Ceramic Balls Market By Function, By Material, By Application, By End User, By Region, Forecast & Opportunities, 2024 has evaluated the future growth potential of global ceramic balls market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in ceramic balls market.

About TechSci Research

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