Ceramics Market Growth & Trends

The global ceramics market size is expected to reach USD 348.0 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.4% from 2021 to 2028. The growth of the construction sector, along with the increasing demand for medical equipment from the healthcare sector is expected to propel the market growth over the forecast period.

Ceramics are made generally from carbides, oxides, and nitrides. The traditional products comprise whiteware, porcelain, stoneware, and chinaware. The aforementioned products are mostly deployed in construction of residential and non-residential buildings; thus, rising construction activities across the globe coupled with renovation of existing properties are driving the market.

The growing medical industry is another factor propelling the market growth. Ceramics are extensively used for several purposes including dental & bone implants, hip & joint replacement, and femoral heads. Furthermore, technological advancements and government investment for research and innovation of advanced ceramics are augmenting the market growth.

For instance, in July 2021, the UK government provided funding of GBP 18.27 million (~USD 24.33 million) under the Strength in Places Fund (SIPF) to the Midland Industrial Ceramics Group (MICG). The funds shall be utilized in creating a leading R&D program, new businesses in the Midlands, and benefit the supply chain. MICG was launched to deliver a world-leading approach to advanced ceramics.

Asia Pacific is anticipated to register the fastest growth rate over the forecast period. Rapid urbanization and rising standard of living owing to increasing per capita income are anticipated to boost the expansion of residential and commercial construction such as shopping malls and retail chains. Thus, the steady growth of the construction sector in the region is projected to drive the demand for ceramics over the coming years.

Ceramics Market Report Highlights

  • Based on product, the traditional segment held the largest revenue share of over 58.0% in 2020. The share is attributable to increasing demand for authentic products in the construction sector, which are made using traditional ceramics
  • Based on application, the tiles segment is expected to register the highest CAGR of 5.4% over the forecast period owing to increasing construction activities in residential and commercial sectors across the world
  • Based on end-use, the building and construction segment is expected to register a CAGR of 4.2% over the forecast period owing to increasing consumption of ceramic products in the architectural projects as they are economical and aesthetically attractive
  • Asia Pacific held the largest revenue share of over 40.0% in 2020 on account of the increasing construction spending in developing economies owing to the expansion of the manufacturing sector in the region and increasing investments in restaurants, hotels, and resorts