The Global Ceramics Market- Growth, COVID-19 impact and Forecast (2021-2025)
The Global Ceramics market is segmented by Product type (Traditional and Advanced); Application (Tiles, Bricks And Pipes, Sanitary Ware and Others); End-users (Building and Construction, Industrial, Medical and Others) Region (North America, Europe, APAC, ROW).
Introduction
Ceramics are inorganic and non-metallic materials composed of more than one element. They possess properties such as hardness, wear-resistance, brittleness, refractories, thermal insulation, electrical insulation, non-magnetic, oxidation resistance, thermal shock resistance, and chemical stability.
Due to its properties its used in manufacturing range of products from decorative pots to nuclear fuel pellets by changing their composition by adding additives. They are classified into traditional and advanced ceramic products
Despite the current pandemic situation, the ceramic manufacturers are recovering their operations in full capacities from 2021 beginning. Along with this, the recovering construction activities across the globe are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Market Overview
The Global ceramics is expected to grow to $371.70 billion by 2025.
Growth momentum is expected to accelerate during the forecast period with 9.12% CAGR.
Increasing government spending on infrastructure and rising construction activities around the world are the key drivers for the market.
APAC is dominating the market due to vast utilization of ceramics in tile making in China and other emerging economies.
Key Trends
Technological advancement in 3D printing and nanotechnology are anticipated to propel the demand for the market in the coming years.
Increasing healthcare infrastructure development across globe amid COVID-19 is expected drive the demand.
The increasing number of renovation and refurbishment projects in the developed countries is anticipated to boost the demand for materials, thereby propelling the industry growth.
Key Market Players
Some of the key players in the market are AGC, Saint Gobain, Du-Co Ceramics Company, 3M, Unifrax, Sisecam Group.
The global market for ceramics is competitive, owing to the presence of a large number of significant players in the market. The market has been witnessing an increasing trend of organic growth. Companies in the market are focusing on expanding their product portfolio with enhanced properties.
Growth Drivers and Challenges
The rising investment in various construction and infrastructure projects across the globe is driving the market. Global construction industry is growing at a faster pace with a major contribution from emerging countries. The revenue is expected to reach approximately $14.98 trillion by 2025
Due to its properties, its demand in various industries such as automotive and aerospace is increasing which is driving the demand.
Raw material price volatility and availability restraining the market demand
Increasing regulations, requirements, and tariffs are limiting the market growth