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Global Ceramics Market (2020–2024)
RESEARCH and MARKETS released a report that monitored the global ceramics market 2020–2024 which is poised to grow by USD 108,7 billion during this period of time, progressing at a CAGR of 6 % during the forecast period. The report gives an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the rising demand for lightweight materials. In addition, increased use of ceramics in high-temperature applications is anticipated to boost the growth of the global ceramics market 2020–2024 as well.
A detailed analysis is given for the market by application (wall and floor tiles; refractories; abrasives; bricks, roofing tiles, and pipes), product type (traditional ceramics and advanced ceramics), end-user (housing and construction, industrial, medical, and others), and geography (APAC – Asia-Pacific: East Asia, South Asia, Southeast Asia and Oceania; Europe; MEA – Middle East and Africa; North America; and South America). Also, the report analyses the market’s competitive landscape and offers information on around 25 vendors operating in the global ceramics market 2020–2024, including AGC Inc., CARBO Ceramics Inc., Compagnie de Saint-Gobain S.A., Corning Inc., KYOCERA Corp., LIXIL Group Corp., Mohawk Industries Inc., R.A.K Ceramics PJSC, SCHOTT AG, and The Siam Cement Public Co. Ltd.
The market is fragmented. LIXIL Group Corp., Mohawk Industries Inc., R.A.K Ceramics PJSC, SCHOTT AG, and The Siam Cement Public Co. Ltd are some of the major market participants. Although the increasing demand for lightweight and high-performance materials will offer immense growth opportunities, the rising demand for substitute materials will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
This ceramics market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this analysis report also provides information on the upcoming ceramics market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
APAC was the largest ceramics market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Over 71 % of the market’s growth will originate from APAC during the forecast period. India, China, and Vietnam are the key markets for ceramics in APAC. Market growth in this region will be slower than the growth of the market in MEA. The ceramics market share growth by the wall and floor tiles segment will be faster than the growth of the market by the other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the ceramics market size.
Various end-user industries are adopting lightweight and high-performance materials for different industrial applications. These materials have energy-saving and wear-resistance properties. They are used as thermally conductive materials in high-friction applications. Aerospace and defense and automobiles industries extensively use these materials. Industrial ceramics is the most preferred high-performance material due to its various properties such as high-temperature resistance, thermal shock resistance, and non-conductive nature. Research analysis on the global ceramics market identifies that the increasing demand for lightweight and high-performance materials will be one of the major factors that will have a positive impact on market growth. The adoption of ceramics will continue to increase because they are used in IR domes, electromagnetic radomes, multi-spectral windows, and sensor protection. Such factors will register a CAGR of close to 6 % by 2024.
More information at: www.researchandmarkets.com/reports/5007839/global-ceramics-market-2020-2024.
