Ceramics Market Size & Industry Revenue 2026

The global ceramic market size will grow remarkably owing to the increasing demand from the building and construction segment worldwide. A report by Fortune Business Insights™ titled, “Ceramics Market Size, Share & Industry Analysis, By Type (Traditional, Advanced), By Application (Tiles, Sanitary Wares, Abrasives, Pottery, Bricks & Pipes, Others), By End-Use Industry (Building & Construction, Industrial, Medical, Others) and Regional Forecast, 2019-2026,” states that the market was worth USD 133.20 billion in 2018 and is expected to reach USD 243.12 billion by the end of 2026. Furthermore, the rising popularity of ceramics will help the market witness a CAGR of 8.0% within the forecast period of 2019 to 2026. As per current trends, the building and construction segment will emerge dominant in the market on account of increasing demand for concrete-making products such as tiles, bricks, and others made out of ceramic.

Increasing Demand from Medical Industry to Augment Growth

Ceramics is gaining popularity by the day as it is being utilized as an alternative to plastic and metal substances. The medical industry is also using ceramic for bone implants, fracture casts, tooth replacements, and others. Ceramic can also be used for making electrical and mechanical components, coupled with automotive components such as catalytic converter substrates, sensors, and others. Thus, the rise in demand from the industries mentioned above is likely to help increase ceramic market revenue in the near future. All the above factors indicate that the forthcoming years will prove to be beneficial and attract high revenues. Furthermore, the advent of ceramic for home appliances is also a major strategy adopted to help increase the overall ceramic market size in the coming years.

Information source: https://www.fortunebusinessinsights.com/industry-reports/ceramics-market-101916