Market Trends: Ceramic Ball Bearings, Ceramic Armor, Energy-Efficient Glass, and More
Our Market Trends help manufacturers keep their finger on the pulse of ceramic and glass products and applications.
Smooth Progress Projected for Ceramic Ball Bearings
The global ceramic ball bearings market reached a value of $886 million in 2017, according to a report available from Research and Markets. Looking forward, the market is expected to climb to nearly $1.7 billion by 2023, growing at a compound annual growth rate (CAGR) of around 11% from 2017-2023.
Hybrid ceramic ball bearings currently account for the majority of the market, compared to full ceramic ball bearings. Silicon nitride and zirconia are commonly used to produce ceramic ball bearings, with silicon nitride generally being the most popular material.
Applications for ceramic ball bearings include electric motors, vehicles, underwater equipment, lab equipment, aerospace and others. Visit www.researchandmarkets.com for more information.
Worldwide BIPV Market to Reach $11.6 Billion by 2027
The worldwide building-integrated photovoltaics (BIPV) market will reach $2.9 billion in revenues in 2018, $5.7 billion in 2023 and $11.6 billion in 2027, according to report from n-tech Research. While most of the BIPV opportunity will remain in the commercial sector, residential BIPV will grow at a much faster rate and will account for 15% of the worldwide BIPV market by 2023, generating $872 million in revenues.
By 2023, the top three geographical markets for BIPV will be (in order of generated revenue) the U.S., China and Japan. Together, these three countries will account for 75% of the BIPV market’s revenues in 2023. Additional details are available at www.ntechresearch.com.
Terrorist Threats Generate Growth for Ceramic Armor
The global ceramic armor market is expected to post a CAGR of over 6% from 2018-2022, according to a report by Technavio. The defense sector accounts for a significant share of the global ceramic armor market. In countries such as the U.S., China and India, heavy investment in defense applications is expected to fuel market growth during the forecast period. Increasing threats from terrorist groups represent one of the key emerging trends in the global ceramic armor market.
In terms of region, the Americas led the market in 2017 with a market share of nearly 45%. Visit www.technavio.com for more information.
Steady Growth Projected for Energy-Efficient Glass
According to a report available from Research and Markets, the global market for energy-efficient glass is estimated to be $25.1 billion in 2018 and is projected to reach $32 billion by 2023, growing at a CAGR of 5% between 2018 and 2023. Increasing urbanization, a growing population and new construction activities are expected to fuel the growth of the building and construction industry, which, in turn, is expected to drive the energy-efficient glass market.
The hard-coated energy-efficient glass market is projected to register the highest CAGR during the forecast period, while triple-glazed energy-efficient glass is projected to be the largest segment of the market. For additional details, visit www.researchandmarkets.com.
Demand for Thermal Ceramics Remains Strong
The global thermal ceramics market is projected to grow at a CAGR of over 6% from 2018-2022, according to a recent report from Technavio. Increasing demand from various end-user industries for lightweight and high-performance materials is one of the major trends being witnessed in the global thermal ceramics market.
Ceramic fiber held the largest market share in 2017, accounting for nearly 78% of the thermal ceramics market. This product segment is expected to dominate the global market throughout the forecast period. Additional information is available at www.technavio.com.
Multiple Trends Impacting Bulletproof Security Glass
The global bulletproof security glass market was estimated at $4.2 billion in 2017, according to a report available from Research and Markets, and it is expected to expand at a CAGR of 11.3% from 2018-2026. The market is being driven by growing demand from the global automotive industry, as well as the increasing expansion of financial institutions and services in developing countries.
Following higher crime rates and terror attacks, growing requirements from defense and military installations are also driving the global bulletproof security glass market. Visit www.researchandmarkets.com for more information.
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