Global Ceramics Market Overview
The ceramics market size reached USD 163.84 billion in 2022, projected to grow at a CAGR of 7.3% during 2023-2028 to reach USD 246.28 billion by 2028. The Asia Pacific region is expected to drive market growth due to increasing construction activities and rapid urbanization.
Ceramics Market Demand
Ceramics Market size was valued at USD 130.19 billion in 2021, poised to grow from USD 140.21 billion in 2022 to USD 273.36 billion by 2030, growing at a CAGR of 7.7% in the forecast period (2023-2030).
Ceramics in Various Industries
The demand for ceramics is increasing in the medical and automotive industries, offering growth opportunities. Additionally, ceramics have applications in sectors like electronics, metallurgical, chemical, and energy.
Factors Driving Ceramics Market Growth
Porous ceramics are used in pottery, bricks, tiles, cement, and glass products. The ceramics market is expected to benefit from the rising automotive production in European countries, consequently increasing demand for ceramic coatings in the region.
Sales of ceramics in Europe are forecasted to rise at 6.3% CAGR across the forecast period. Manufacturers are focusing on the production of advanced ceramics due to their increasing demand in various applications globally.
Technological Innovations in Ceramics
Technological innovations such as Nanotechnology, 3-D printing, inkjet technology, and roto drum technology have enhanced the demand for ceramics, particularly in ceramic tile manufacturing.
Ceramics Market Growth Prospect
The global ceramics market was valued at USD 227.60 billion in 2022, projected to reach USD 369.93 billion by 2030, with the Asia-Pacific region expected to have the fastest growth during the forecast period.