The Europe ceramic balls market accounted to US$ 129.5 Mn in 2018 and is expected to grow at a CAGR of 6.6% during the forecast period 2019 - 2027, to account to US$ 280.7 Mn by 2027.
Germany accounted for the largest market share in the Europe ceramic balls market. The rise ceramic balls market in Germany is primarily attributed to the expansion of the automotive industry in the region. The automotive industry in Germany provide a huge market opportunity in the ceramic balls market. The automotive industry in Germany with respect to the production of high-tech automotive products is one of the strongest in the world. For instance, according to Germany trade and invest report more than 5.5 million passenger vehicle was produced in Germany in 2017. Moreover, countries like Germany, France, Italy, and the UK have a flourishing manufacturing industry which further propels the demand for ceramic balls in these countries.
Exhibit: Europe Ceramic Balls Markets Revenue and Forecast, 2018
Market Insights
Remarkable spending in chemical industry provides opportunity for the ceramic balls market growth
The demand for ceramic has increased from the chemical industry which provide a huge developing potential for key players operating in the Europe Ceramic balls market. The chemical industry is expected to spend heavily over the next twenty years owing to the introduction of new feedstock sources. This spending in the chemical industry is expected to boost the capacity of production and contribute to more efficient production. Ceramic bearings are more suitable for extreme chemical, thermal, and mechanical stress conditions owing to their lower density, hardness, and resistance to wear & corrosion. Therefore, the overall development of ceramic industry in Europe boost the ceramic balls market growth.
Developed automotive industry in Europe boosts the demand for ceramic balls for bearings and valves
Ceramic balls are highly adopted in automotive applications owing to its lighter weight, rigidity, and corrosion resistance. In automobiles, ceramic bearings attain a faster speed with minimum energy owing to its increased stiffness, durability, reduced rolling resistance, and reduced weight. Ceramic automotive bearings are commonly used with airbags, seat slides & seating tracks, constant velocity joints, seatbelt locking mechanism, double offset joints, spindle bearings, and tripod joints including many other systems. Moreover, the rise in demand for turbochargers subsequently increases the demand for ceramic ball market in Europe.
Function Insights
On the basis of function, the Europe ceramic balls market has been segmented into active and inert. Under the function segment, the inert ceramic balls market led the Europe ceramic balls market. The highest share of the inert ceramic balls segment is mainly to a wide range of product offering for applications such as petroleum, chemical, fertilizer, natural gas, and environmental protection industries. In gas processing, the inert ceramic balls are used drying, and gas liquefaction processes. Furthermore, the primary role of inert ceramic balls is to enhance liquid distribution. These balls also offer support and protection to the activating catalyst with low strength, which further boosts the demand for inert ceramic balls market in the chemical applications.
Application Insights
The Europe ceramic balls market by application has been segmented into aerospace, automotive, chemical, and others. The automotive market segment dominated the Europe ceramic balls market. This sector accounts for almost 4% of the total European GDP. Europe is among the world’s largest producer of motor vehicles. Taking into consideration the developing potential of the automotive industry and maintain its global technological leadership, the government in European Commissions provide funds for research and development. Therefore, the constant growth in the automotive industry promotes the demand for ceramic balls. Moreover, the demand for ceramic balls in the aerospace industry is anticipated to grow at a faster pace over the forecast period.
Exhibit: Rest of Europe Ceramic Balls Market by Application
Strategic Insights
Merger & acquisition and expansion were observed as the most adopted strategies in Europe ceramic balls market. Few of the recent developments in the Europe ceramic balls market are listed below:
2018: CoorsTek, Inc. opened a research and development (R&D) center in Uden, The Netherlands. The new R&D center is closely connected with the R&D teams of the company in Japan and the United States, which is involved in developing technical ceramics capabilities to support CoorsTek customers around the world.
2016: Toshiba Materials Co., Ltd., and Kyocera Corporation collaborated to start the development and production of nitride ceramic components.
2016: CoorsTek, Inc. invested $120 million for the development of a new center for advanced materials in Colorado. The investment will support the rapid development of new materials helping customers to solve the challenges with the high-performance properties of advanced ceramics. The CoorsTek Center for Advanced Materials is a modern facility which combines the experience of the experts and the tools needed for innovation.
EUROPE CERAMIC BALLS MARKET SEGMENTATION
By Material
By Function
By Application
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 129.5 Million |
| Market Size by 2027 | US$ 280.7 Million |
| CAGR (2019 - 2027) | 6.6% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Material
|
|
Regions and Countries Covered
|
|
| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
|
The Europe Ceramic Balls Market is valued at US$ 129.5 Million in 2018, it is projected to reach US$ 280.7 Million by 2027.
As per our report Europe Ceramic Balls Market, the market size is valued at US$ 129.5 Million in 2018, projecting it to reach US$ 280.7 Million by 2027. This translates to a CAGR of approximately 6.6% during the forecast period.
The Europe Ceramic Balls Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Ceramic Balls Market report:
The Europe Ceramic Balls Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Ceramic Balls Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Ceramic Balls Market value chain can benefit from the information contained in a comprehensive market report.
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