Ceramics Market Size, Share & Trends Analysis growing at a CAGR of 5.6% from 2024 to 2030
The global ceramics market size was estimated at USD 248.89 billion in 2023 and is projected to reach USD 359.35 billion by 2030, growing at a CAGR of 5.6% from 2024 to 2030. The expansion of the building and construction industry, where ceramics play a vital role in tiles, sanitary ware, and bricks, is anticipated to propel the market in the forthcoming years.
Key Market Trends & Insights
- The ceramics market in North America is anticipated to register a CAGR of 4.4% during the forecast period.
- The Asia Pacific ceramics market dominated the market with a share of above 40% in 2023.
- Based on product, traditional Ceramics held the largest revenue share of over 56% in 2023.
- In terms of application, tiles held the largest share of over 48% of the global ceramics market.
- Based on end-use, medical is anticipated to register fastest growth rate of 6.1% during the forecast period.
Market Size & Forecast
- 2023 Market Size: USD 248.89 billion
- 2030 Projected Market Size: USD 359.35 billion
- CAGR (2024-2030): 5.6%
- Asia Pacific: Largest market in 2023
- China: Fastest growing market
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Recently, changes in indoor home decoration at a global scale have affected how ceramics are used in the construction sector. Bathroom fixtures like sinks, bathtubs, toilet bowls, and shower trays are made from kaolin and clay, with the addition of quartz and feldspar before being painted. This creates a material that is very hard, durable, and easy to clean, with good resistance to wear and chemicals. Over the forecast period, rising demand for ceramic tiles, mainly due to residential and commercial construction activities, is anticipated to drive the market expansion. Ceramic tiles have many uses, including on walls and floors. They are a blend of heat-hardened clay and other minerals, like sand and quartz.
Infrastructure construction activities around the world have increased significantly. For instance, the Government of India has undertaken many initiatives, such as the Smart City project, to ensure rapid urbanization in the country. Rising construction and infrastructure activities drive the demand for ceramic tiles, boosting market growth.
Drivers, Opportunities & Restraints
The growth of the medical industry is one of the key drivers for the market. Ceramics have been utilized for a very long time for medical applications. The growth of healthcare systems in various economies and high spending on medical equipment and devices have positively impacted product demand. For instance, amidst the growing demand for ceramic components in joint replacements, CeramTec expanded its manufacturing operations and, in October 2023, held a groundbreaking ceremony for its new extension building in Marktredwitz, Germany.
Ceramics are also used in the aerospace industry as they are lighter than metals. This enables longer time in space, especially for exploration, larger payloads, low fuel consumption, and faster speeds. Therefore, the prevalence of ceramics in the aerospace industry is expected to create lucrative growth opportunities for the product in the global market.
