Ceramics Market Is Expected To Reach 269.17 Billion By 2027 And Grow At A CAGR of 8.13 Percent Over The Forecast Period.
According to the report by Stellar Market Research, Ceramics Market is estimated to grow at a CAGR of 8.13 percent over the forecast period 2022 to 2027, reaching nearly USD 269.17 Billion. Ceramics Market size was valued at USD 168.40 Billion in 2021.
Ceramics Market Overview:
Because of the global increase in residential development, the use of ceramics in the manufacture of items such as tiles and sanitary ware is expected to expand. Furthermore, ceramics are expected to have a significant penetration in the medical business due to their expanding use in the production of bioimplants. Growing investments in the medical business due to factors such as coronavirus emergence and an ageing population are likely to boost market growth through the forecast period. Ceramics, which are widely utilised in tiles, sanitary ware, bricks, and abrasives, are a major manufacturer and consumer in China. Additionally, they are becoming favoured as basic materials in 3D printing. The growing adoption of 3D printed parts coupled with rising investments in this technology is estimated to benefit product demand over the forecast period.
Request Discount on Ceramics Market:@https://www.stellarmr.com/report/req_sample/Ceramics-Market/380
Ceramics Market Scope and Dynamics:
Rising investments in the residential and commercial sectors are boosting demand for ceramic-based items such as sanitary ware and tiles in the global ceramics market. Furthermore, the product is witnessing widespread use in the medical field for the fabrication of bioimplants. Growing medical technological improvements, as well as an increase in the number of orthopaedic and dental patients, are increasing the global need for ceramic implants. Another major factor for the market is the expansion of the building and construction sector. From 2020 to 2021, several economies are seeing good growth and investment in the building industry. Ceramic products find application in interior and exterior tiles, sanitary ware, and in other complex structures such as chimney pipes, sewage, and bricks in the construction sector.
Growth in the construction industry is also a driving element for the market. Ceramics are utilised in interior design as tiles, sanitary ware, and other decorative items. The shifting trend toward attractive interior design, as well as increased expenditures in residential and commercial construction to support economic recovery in various nations, is benefiting market growth. The growing need for high-quality and functionally safe medical gadgets has increased the demand for dependable materials like ceramics. These are used in the medical business because to their adaptability and customization based on application needs. Ceramics are used in a variety of medical applications, including acetabular cups and femoral heads for hip replacement, dental implants and restorations, bone fillers, and scaffolds for tissue engineering. Factors such as the toughness and strength of the product are expected to expand its demand over the forecast period.
Ceramics Market Insights:
In the past, Asia Pacific dominated the market, and this trend is expected to continue over the forecast period. The presence of emerging economic powerhouses such as India, China, Thailand, and other South Asian nations is likely to fuel the region’s ceramics market. Furthermore, the area is seeing tremendous expansion and investment in the medical business, which is projected to drive market growth further. China is one of the world’s fastest-growing healthcare markets, with a 13 percent annual CAGR over the next 10 years. In 2019, the country has the world’s second-largest healthcare market, with a total expenditure of up to USD 1.02 trillion. Thus, the healthcare industry of China is expected to offer potential growth opportunities to manufacturers of ceramics as they are used in medical components and equipment. This, in turn, is estimated to drive the growth of the ceramic market in China from 2022 to 2029.
The North American ceramics market is expected to increase steadily during the forecast period. Ceramic tile consumption in the region is expected to rise dramatically in the future years due to increased development of residential and commercial structures. Furthermore, the increased emphasis on the development of the domestic ceramic tile sector, which is backed by rising demand for walling and flooring applications, is assisting market expansion. Due to substantial raw material availability and a large client base, several Italian corporations are progressively investing in the regional market.
Ceramics Market Segmentation:
Product
- Traditional
- Advanced
Application
- Sanitary wares
- Table and Ornamental Ware
- Abrasives
- Technical Ceramics
- Pipes
- Refractory
- Tiles
- Others
Key Players in Ceramics Market:
- Kyocera Corp. (Japan)
- Corning Inc. (United States)
- Morgan Advanced Materials (United Kingdom)
- CoorsTek (United States)
- CeremTec (Germany)
- Saint Gobain (France)
- 3M (United States)
- Applied Ceramics Inc. (United States)
- Blasch Precision Ceramics Inc. (United States)
- Materion Corporation (United States)
- McDanel Advanced Ceramic Technologies (United States)
- Rauschert GmbH (Germany)
- Imerys Ceramics (France)
To Get a Detailed Report Summary and Research Scope of The Ceramics Market, Click here:@https://www.stellarmr.com/report/req_sample/Ceramics-Market/380
About Stellar Market Research:
Stellar Market Research, founded in 2018, is an India-based consultancy and advising firm focused on aiding customers in reaching their company transformation goals through advisory services and strategic business. The company’s goal as a strategic knowledge partner is to become an important component of the client’s business. Stellar Market Research provides comprehensive solutions that go beyond core research technology to help leaders in any organization achieve mission-critical goals. The company produces recommendations that will allow the organization to develop in the future. So far, the firm has worked with over 335 companies across 25 industries, providing dependable data with a 94 percent accuracy rate. The organization has domain-specific research specialists and 119 research analysts in several sectors who evaluate the industry on a regular basis, assisting the company in gaining a competitive advantage through high-quality market intelligence.
Contact Stellar Market Research:
S.no.8, h. no.4-8 Pl.7/4,
Kothrud, Pinnac Memories
Fl. No.3, Kothrud, Pune,
Maharashtra, 411029
sales@stellarmr.com
