LONDON--(BUSINESS WIRE)--The global ceramic balls market is projected to grow to around 520 thousand metric tons by 2021, at a CAGR of close to 6% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global ceramic balls market for 2017-2021. Based on the end-users, the market is divided into oil and gas, petrochemical, and process industry segments.
The most popular grade of ceramic balls is 25% aluminum oxide (Al₂O₃), as they are hard, durable, abrasion resistant, and can withstand high pressure and high temperature. They are used in various applications in the petrochemical, oil and gas, metallurgical, chemical, and process industries.
Technavio’s research study segments the global ceramic balls market into the following regions:
Ceramic balls market in APAC
“APAC is both the largest and fastest growing segment of the ceramic balls market, driven by the increasing industrialization and manufacturing activities in the region. China, India, and Japan are the key contributors to the growth of ceramic balls market in the region,” says Ajay Adikari, a lead analyst at Technavio for glass and ceramics research.
The increasing demand for ceramic balls from its end-user industries such as oil and gas, petrochemical, and process industries are expected to drive the ceramic balls market in the region. Also, the healthy economic development, along with the considerable growth in building and construction activities, is likely to support the market growth for ceramic balls in the region.
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Ceramic balls market in EMEA
In 2016, EMEA was the second largest geographical segment in the global ceramic balls market and is expected to witness a considerable growth over the forecast period. End-users such as the petrochemical and oil and gas industries are creating higher demand for ceramic balls in the region. The growing energy sector in the region is also expected to contribute to the growth of ceramic balls market in the near future. Additionally, the rising population and increasing urbanization in the Middle East and Africa are key driving factors for the ceramic balls market.
Ceramic balls market in the Americas
“The ceramic balls market in the Americas is projected to showcase a CAGR of nearly 5%, driven by the substantial growth in the petrochemical and process industries in the region. The US, Canada, Mexico, Brazil, Peru, and Chile are the key countries for the ceramic balls market in the Americas,” says Ajay.
The US is one of the global players in the oil and gas industry due to the presence of large crude oil reserves in the country. Advancements in technology and production levels of oil and gas have encouraged the demand for ceramic balls in the region. Also, the increase in the shale gas production in the region is expected to boost the ceramic balls market during the forecast period.
The top vendors in the global ceramic balls market highlighted in the report are:
- Honeywell International
- Pingxiang Funeng Chemical Industry
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