The Asia Pacific ceramic balls market accounted to US$ 168.9 Mn in 2018 and is expected to grow at a CAGR of 8.4% during the forecast period 2019 - 2027, to account to US$ 347.4 Mn by 2027. Ceramic balls are characterized by increased corrosion resistance and higher electrical resistance. These type of balls are produced using different advanced ceramic materials such as alumina, zirconia, and silicon, among others. The growing preference for ceramic balls over steel balls coupled rising demand for ceramic balls from the Asia Pacific automotive industry is the factors boosting the growth of ceramic balls market in the Asia Pacific. However, the high cost associated with the manufacturing is projected to hamper the ceramic balls market growth over the forecast period. Moreover, rising demand form the medical applications and well-established market in developed and developing countries such as China, India, Australia, and Japan among others are expected to deliver substantial growth opportunities to the ceramic balls market players in the coming future.
The Asia Pacific ceramic balls market is bifurcated on the basis of function is divided into active and inert. The inert ceramic balls segment accounted for the largest share in the Asia Pacific ceramic balls market. Inert ceramic balls are characterized by high strength and stabilities to chemical and thermal circumstances. It also has high resistance to alkali, salt, acid, and all organic solvents. Moreover, owing to its properties, inert ceramic balls are used in a wide range of applications. It is used as a covering and supporting material in oil fertilizer, refinery, chemical, environmental protection industries, and natural gas. Inert ceramic ball improves the distribution of gas & liquid and, also protect the activating catalyst from shocking by the rushing fluids. Therefore, enhanced properties coupled with a wide range of application drives the inert ceramic balls market.
Countries like Japan, India, China, Australia, South Korea, Singapore, Taiwan, and Indonesia have well-established manufacturing sector pertaining to a diverse sector that includes, chemicals, textile, automobiles, and healthcare. The manufacturing industry in the countries of Asia Pacific has experienced a huge shift over the years. The manufacturing sector in the Asian Pacific region is known to rapidly adopt innovation accelerators that include advanced technologies and materials in order to improve operational efficiency. The manufacturing spending developing and developed countries have grown significantly over the past few years and is further anticipated to grow at the highest estimated growth rate. Furthermore, Government policies such as Make-in-India, in India encourages the setup of different manufacturing plants in one of the fastest developing countries. This development in the manufacturing sector generates a need for advanced solutions that increases the demand for bearings market. Ceramic balls are extensively used in aerospace, automotive, medical, and mechanical equipment, including others. These bearings are made up of ceramic, metals, and plastic materials. However, ceramic balls provide added benefits such as reduced weight, faster speed, and minimum noise. Thus, implementation of ceramic ball bearings in various end-use industries is expected to offer significant growth opportunity to the ceramic ball manufacturers in this region.
Additionally, remarkable spending in the chemical industry is anticipated to foster the ceramic balls market growth in the Asia Pacific region. Steel bearings are not suitable for the chemical industry as they require bearings with less lubrication need and corrosion-free manufacturing environment. Ceramic bearings are suitable for the chemical industry and considered lightweight, more durable, and speedier than steel ball bearings which further boost the ceramic balls market in the Asia Pacific region.
The chemical industry in the Asia Pacific region is expected to grow at a faster pace in the future. This spending in the chemical industry is expected to boost the capacity of production and contribute to more efficient production. Ceramic balls are more suitable for extreme chemical, thermal, and mechanical stress conditions owing to their lower density, hardness, and resistance to wear & corrosion. In chemical industry ceramic ball bearings are mainly used in furnaces, roller mills, pumps, and steam boiler, etc. Thus, growth in acceptance of ceramic bearings and an increase in spending in the chemical industry are expected to provide significant growth opportunity for the ceramic balls market.
Some of the players present in Asia Pacific ceramic balls market are Axens, CoorsTek, Inc., Devson Catalyst Pvt. Ltd, IIndustrie Bitossi, Industrial Tectonics Inc., Pingxiang XINGFENG Chemical Packing Co., Ltd, Preciball SA, Topack Ceramics Pvt. Ltd, Toshiba Materials Co., Ltd., Zibo Sinoshine Import & Export Co., Ltd among others.
The overall Asia Pacific ceramic balls market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Ceramic Balls market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the ceramic balls market.