Ceramic Balls Market to 2027 - Global Analysis and Forecasts by Material (Zirconia, Silicon, Alumina, and Others); Function (Active and Inert); Application (Aerospace, Automotive, Chemical, and Others) and Geography
The Global Ceramic Balls market was valued at US$ 442.9 million in 2018 and is expected to grow at a CAGR of 8.1% during the forecast period 2019 - 2027, to generate US$ 892.2 million 2027. Factors such as the increase in adoption of ceramic balls over steel balls coupled with increasing demand from automotive industry is driving the ceramic balls market growth.
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Further, higher spending in the chemical industry is anticipated to foster the ceramic balls market growth. Chemical industry is subjected to a sensitive production environment. Steel bearings are not a feasible option for this industry as they require bearings with less lubrication need and corrosion-free manufacturing environment. Ceramic bearings 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 in the global ceramic balls market.