Ceramics Market Growth & Trends
The global ceramics market size is anticipated to reach USD 359.35 billion by 2030 registering a 5.2% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc., Rising penetration of ceramics in medical and construction industries is anticipated to propel market growth in the forecast period. Ceramic is any of the numerous brittle, hard, corrosion-resistant, and heat-resistant materials that are manufactured by giving shape, followed by firing a non-metallic, or an inorganic material, such as clay, at a very high temperature. Based on product, the market is segmented into traditional and advanced.
The combination of oxides or non-oxides or the combination of both results in the formation of advanced ceramics. Insulation, magnetism, conduction, and permeability are the characteristics, which allow it to be used in a variety of applications in numerous industries such as defense, aviation, electronics, and medicine.
Based on applications, tiles dominate the global market. Worldwide, the growth in construction activities is propelling the demand for tiles in interior décor due to their attractive appearance and affordability. Tiles are typically created from a combination of red or white clay and other materials and are then glazed. This glaze gives the tile more tensile strength, color, and pattern.
Based on region, Asia Pacific held the largest revenue share of the market in 2022 and this trend is expected to continue over the forecast period. The increased demand for roof tiles, artware, and tableware in the region is boosting the product demand in the region. Furthermore, Asia Pacific also accounts for the large-scale presence of pottery manufacturing. Pottery ceramics has cultural importance in Japan, China, etc. as they are used in religious and ceremonial activities such as on the altars in places of worship, as well as in tea ceremonies, in these countries.
The global ceramics market is characterized by the presence of multiple manufacturing companies coupled with the concentration of end-use companies in the global market. These prominent manufacturers compete with each other on the basis of product quality and prices. Countries like China, India, and other Asia countries are some of the leading exporters of ceramic and related products in the world.
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Ceramics Market Report
Ceramics Market Report Highlights
- Based on product, traditional held a share of over 57.0% in 2022 and is anticipated to progress at a lucrative CAGR from 2023 to 2030. The growth is attributed to increasing demand for tiles, bricks, and tableware manufacturing.
- Based on application, tiles are anticipated to grow at a CAGR of 6.0% in terms of revenue during the forecast period. The progressive growth is on account of increasing demand from end-uses such as walkways, patios, flooring, and wall.
- Based on end-use, construction held the largest share of over 40.0% in 2022. Increasing spending in the development of luxury villas, hotels, and apartments worldwide has increased the consumption of ceramic products, which are used to enhance the aesthetic appeal of these properties.
- Based on region, North America is anticipated to attain a CAGR of 4.2% in terms of revenue during the forecast period. Rising investments in residential and commercial spaces are propelling the need for sanitary ware, which is propelling the market growth.
Key Companies & Market Share Insights
The market is competitive in nature. The players operating in this market continuously carry out product developments to stay ahead of their competitors. For instance, in May 2022, CeramTec GmbH launched a new product named AIN HP, which is a relatively new high-performance substrate. This ceramic substrate is ideal for use in power converters in rail vehicle production. Some of the prominent players in the global ceramics market include:
- 3M
- AGC Ceramics Co., Ltd.
- CeramTec GmbH
- CoorsTek Inc.
- Du-Co Ceramics Company
- Kajaria Ceramics
- MOHAWK INDUSTRIES, INC.
- Morgan Advanced Materials
- RAK CERAMICS
- Saint Gobain
