- The ceramics market is projected to register USD 287.1 billion by 2022, as per a report by Grand View Research, Inc. It was worth USD 157.7 billion in 2014. Increased funding for high-rise projects in China, Myanmar, and Philippines should raise market demand in the years ahead. Investments for innovative products and high-quality manufacturing processes will have a positive market impact.
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The ceramics market is divided into products, applications, end-users, and geographies. Traditional and advanced are the products. Traditional ceramics are made from raw materials. Advanced ceramics are made from silicon carbide and tungsten carbide. The former were the largest product in 2014 and contributed 60% of the market demand.
Advanced ceramics are projected to grow the fastest (witnessing over 9% CAGR) from 2015 to 2022 (forecast period). Growing demand from the industries of automotives, heavy machineries, and defense will further the worldwide market.
Ceramics have applications in sanitary ware, technical ceramics, bricks, tiles, refractories, decorative tiles, and fine art. Sanitary ware collected over USD 12 billion in 2014. It faces high demand from hospitals, educational institutions, industries, and hotels. In 2014, tiles were the dominant segment, with demand surpassing 70 million tons.
End-users of the ceramics market include housing & construction, industrial, chemicals & petrochemicals, and medical. Demand from industrial was more than 55 million tons in 2014. Housing & construction was the largest end-user and accounted for 40% market revenues in 2014. It was valued over USD 65 billion that year.
The segment of chemicals & petrochemicals utilizes ceramics for manufacturing rotary seals, pumping components, and thermocouple protection tubes. With regards to geographies, North America and Europe were the largest regions (in terms of market volumes) in 2014. They captured over 55% of the market.
Asia Pacific was the largest ceramics market in 2014, with an estimated demand of 110 million tons. China was the biggest market in the region due to a booming automobile sector and huge infrastructural expenses. In 2012, an organization, ‘Morgan Advanced Materials’ created a filtration technology for industrial wastewater treatment processes.
Well-known participants of the ceramics market include Cemex, ABK Group, Ceramiche Refin, Ceradyne, Inc., Morgan Advanced Materials, and Concorde Group.
Information Source: Grand View Research
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