The global ceramic market size will grow remarkably owing to the increasing demand from the building and construction segment worldwide. A report by Fortune Business Insights™ states that the market was worth USD 133.20 billion in 2018 and is expected to reach USD 243.12 billion by the end of 2026. Furthermore, the rising popularity of ceramics will help the market witness a CAGR of 8.0% within the forecast period of 2019 to 2026. As per current trends, the building and construction segment will emerge dominant in the market on account of increasing demand for concrete making products such as tiles, bricks, and others made out of ceramic.
The Report offers:
Competitive landscape of the ceramic market
In-depth analysis of the market focusing on growth boosters, restraints, challenges, and opportunities in the market
List of key players in the market
Major industry developments and their impact on the overall market
Increasing Demand from Medical Industry to Augment Growth
Ceramics is gaining popularity by the day as it is being utilized as an alternative to plastic and metal substances. The medical industry is also using ceramic for bone implants, fracture casts, tooth replacements, and others. Ceramic can also be used for making electrical and mechanical components, coupled with automotive components such as catalytic converter substrates, sensors, and others. Thus, the rise in demand from the industries mentioned above is likely to help increase ceramic market revenue in the near future. All the above factors indicate that the forthcoming years will prove to be beneficial and attract high revenues. Furthermore, the advent of ceramic for home appliances is also a major strategy adopted to help increase the overall ceramic market size in the coming years.
Efficient Raw Material Prices of Ceramics to Help Asia Pacific Emerge Dominant
Taking into account the geographical segmentation, the ceramic market is categorized into five major regions. These regions include the Middle East and Africa, Europe, South America, Asia Pacific, and North America. Among these, Asia Pacific is holding a prominent ceramic market share and is likely to continue dominating the global market in the coming years as well. This is attributable to the ease of availability and efficient pricing of raw materials required for manufacturing ceramics. Apart from this, governments of various nations are supporting the growth of ceramics by launching policies to improve sanitation and promote the use of ceramic products instead of plastic and metal. On the other side, the Europe market will witness remarkable growth on account of the rising demand for electrical ceramics from the electronic industry.
Mergers and Acquisition Strategies Adopted by Manufacturers to Prove Beneficial for Players
One of the leading players of the ceramics market is Morgan Advanced Materials, having 109 operational sites and the capability of compaction pressing up to 500 tons. Manufacturers are emphasizing on introducing new products for attracting high revenues to the market. Ceramic market manufacturers are also adopting mergers and acquisition strategies to gain a competitive edge in the market and rise dominant.
May 2019 – The Mannheim, Germany seller and manufacturers of ceramic plastics components and ceramic namely Friatec GmbH was acquired by its European headquarters based in Germany, Kyocera Fineceramic GmbH for advanced ceramics business operations with the help of a newly established subsidiary. By autumn 2019, these operations will be transported to their Kyocera Fineceramics Solutions GmbH subsidiary.
May 2019 – Ise Murata Manufacturing Co., celebrated the accomplishment of their second production building in the Tsu City of Mie Prefecture, situated in Japan. As per the company, this completion will further establish the framework for greater production proficiency and enhance the product development potentials in the future.
Some of the key ceramic market manufacturers include:
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