Friday, 26 April 2024
Asia Pacific ceramic balls market accounted to US$ 168.9 Mn in 2018 and is expected to grow at a CAGR of 8.4% during the forecast period 2020 - 2027, to account to US$ 347.4 Mn by 2027.
The Asia Pacific Ceramic Balls Market is growing along with the Chemicals and Materialsindustry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
Steel ball bearings are comparatively older technology and used in many applications owing to the ability to handle very high loads. However, these bearings are noisy, heavy, and deliver lower chemical resistance. Also, they require constant lubrication and maintenance and susceptible to corrosion in humid environments. Along with this, compared to steel, ceramic materials provide superior heat resistance, higher dimensional stability, corrosion resistance, and lower density, which enables high speed. Thus, the aforementioned benefits associated with the use of ceramic balls are driving the Asia Pacific ceramic balls market.
Asia Pacific ceramic balls market accounted to US$ 168.9 Mn in 2018 and is expected to grow at a CAGR of 8.4% during the forecast period 2020 - 2027, to account to US$ 347.4 Mn by 2027.
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The Asia Pacific region is among the largest producer of vehicles globally. The growth in the automotive industry in Asia Pacific region provides a huge developing potential for other related sectors such as automotive component and part manufacturers. Ceramic balls are used in seating tracks, seat slides, safety restraints, seatbelt locking mechanisms, airbags, etc. due to its characteristics such as high-temperature resistance and strength. Therefore, the wide application of ceramic balls in a variety of automotive component drives the ceramic balls market in the automotive industry.
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ASIA PACIFIC CERAMIC BALLS MARKET SEGMENTATION
By Material
By Function
By Application
By Country
Company Profiles
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