Global Ceramics market

Ceramics Market Size, Share, Growth Analysis, By Product type(Traditional, Advance), By Application(Sanitary Ware, Abrasives), By End use(Building & Construction, Industrial) - Industry Forecast 2024-2031

Report ID: SQMIG15F2099 | Region: Global | Published Date: April, 2024
Pages: 239 | Tables: 93 | Figures: 76

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Ceramics Market size was valued at USD 130.19 billion in 2019 and is poised to grow from USD 140.21 billion in 2023 to USD 273.36 billion by 2031, growing at a CAGR of 7.7% in the forecast period (2024-2031).

The ceramics market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective. 'Saint-Gobain S.A.', 'Kyocera Corporation', 'Corning Incorporated', '3M Company', 'Morgan Advanced Materials Plc', 'CoorsTek Inc.', 'RHI Magnesita N.V.', 'Vesuvius plc', 'The Dow Chemical Company', 'CeramTec GmbH', 'Murata Manufacturing Co., Ltd.', 'Imerys SA', 'NGK Insulators Ltd.', 'Almatis GmbH', 'Honeywell International Inc.', 'Blasch Precision Ceramics Inc.', 'Schott AG', 'Taiyo Yuden Co., Ltd.', 'Hitachi Metals, Ltd.', 'Ferro Corporation'

The product is primarily used in the building and construction industry to manufacture tiles, bricks and pipes, and sanitary wares. Because of their toughness, electrical resistance, and chemical inertness, they are the most preferred material. Ceramic tiles are regarded as an important component of home interior design and furnishing. These tiles are preferred for interior and exterior home decoration and are used in bathroom and kitchen fittings. Furthermore, this material is being used in the construction of schools, corporate offices, malls, and shops. In 2016, tile production reached 14 billion square meters. Ceramics market growth will be driven by rising demand from various applications in the building and construction industry.

The product is also in high demand in the medical and automotive industries. Bio-ceramics is a biocompatible product used in the medical industry for surgical bone implants, tooth replacement, and fractured bone reconstruction. Sensors, catalytic converter substrates, and other electrical and mechanical components are among the automotive applications for these materials. The efficiency and preference of products in the medical and automotive industries will provide the market with tremendous growth opportunities. Additionally, rising demand for the product from other end-use industries such as electronics, metallurgical, chemical, and energy is expected to drive market growth.

Based on region ceramics market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. In the past, Asia Pacific dominated the market, and this trend is expected to continue during the forecast period. The presence of emerging economic powerhouses such as India, China, Thailand, and other South Asian countries is expected to fuel the region's ceramics market. Furthermore, the region is experiencing rapid growth and investment in the medical industry, which is expected to drive market growth further. China has one of the world's fastest-growing healthcare markets, with a 13% annual CAGR over the next ten years. In 2019, the country had the world's second-largest healthcare market, with a total expenditure of up to USD 1.02 trillion. ​

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Global Ceramics market

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