Ceramics Market Is Expected To Grow Owing To Enhanced Demand In Construction And Medical Industries Till 2022: Grand View Research, Inc.

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The ceramics market was worth USD 158 billion in 2014. It would be valued about USD 288 billion by 2022. Incomes will be driven by demand from construction and medical industries. Large-scale infrastructural projects are funded by India, China, Philippines, Indonesia, Malaysia, and Myanmar.

The Indian construction sector is booming due to presence of investment environment (for foreign investors) and robust economy. Consequently, the nation will witness high demand for ceramics. This, in turn, is also estimated to benefit the ceramics market.   

Ceramics are highly durable and affordable. They require little maintenance and can withstand harsh environmental conditions. Product innovations, superior manufacturing processes, and swift logistic systems should steer the market in the forthcoming years.

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Some of the market barriers include increasing prices of raw materials & energy and demand for substitutes (glass, wood, etc). Stringent ecological regulations in the U.S. would also inhibit growth. Shortage of raw materials will also have an adverse effect.

The ceramics market is divided into products, applications, end-users, and regions. Products are split into traditional and advanced. Traditional held 61% of the market in 2014. Developing economies like the Middle East & Africa contribute a large chunk of the demand for traditional ceramics. Advanced ceramics are anticipated to grow at a CAGR of 8.9% from 2015 to 2022 (forecast period).

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Applications encompass tiles, sanitary ware, abrasive, refractories, table & ornamental ware, fine art, technical ceramics, tiles, bricks, roof tiles & pipes, decorative tiles, packaging, and others. Tiles, with volumes exceeding 70 million tons, dominated the market in 2014. Sanitary ware fetched around USD 13 billion in 2014.

Industrial, housing & construction, medical, and others represent the end-users. Housing & construction was the largest segment in 2014. It surpassed USD 66 billion that year. Industrial consumed 54 million tons in 2014. Growth in this end-user could have a positive effect on the ceramics market in the future.

The market has five regions. These are North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. North America and Europe led the market (in terms of volumes) in 2014. Asia Pacific would be the fastest-growing region during the forecast period. Main competitors in the worldwide market encompass Cemex S.A.B. de C.V., ABK Group, Ceradyne Inc., and CARBO Ceramics.

The ceramics market is highly fragmented. Vendors are engaged in research to develop environment-friendly products.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare

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