Ceramic tube market is projected to grow at a CAGR of 7.52%, from 2017 to 2022.

The ceramic tube market is projected to reach USD 993.3 million by 2022, growing at a CAGR of 7.52%, from 2017 to 2022. Ceramic tubes are mainly used as enveloping material in electronic and electrical equipment, such as vacuum interrupters, power grid tubes, capacitors, and thermocouple insulators. Ceramic tubes also find application in X-ray tubes used in X-ray machines and CT scan machines. The growth of the ceramic tube market can be attributed to increased investments in the construction of new electrical transmission and distribution networks in developing countries and maintenance of aging power transmission infrastructure in developed countries. Rising energy costs in ceramic manufacturing act as a restraint for the ceramic tube market along with a lack of reliable supply of raw materials and volatility in the prices of raw materials. Low-cost competitors from emerging markets are the main challenge for the ceramic tube market.

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The electronic and electrical application segment is expected to grow at the highest CAGR, from 2017 to 2022

The electronic and electrical segment is estimated to be the fastest growing segment of the ceramic tube market, by application, from 2017 to 2022. Rapid growth in the electronic and electrical manufacturing sector in Asia-Pacific is expected to drive the ceramic tube market. The governments of countries such as India and China are investing heavily in the construction of new power transmission and distribution networks to support their growing manufacturing sectors. This is expected to drive the electronics and electrical application segment during the forecast period.

Asia-Pacific: The largest market for ceramic tubes

The market in Asia-Pacific is currently the largest ceramic tube market, followed by the markets in Europe, North America, and the Middle East & Africa. The market in Asia-Pacific is projected to grow at a higher rate, with the Chinese market expected to dominate the regional market. The growth of the manufacturing sectors in countries such as India, China, South Korea, Japan, and Taiwan is expected to fuel the ceramic tube market in Asia-Pacific.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 60%, Tier 2- 27%, Tier 3- 13%
By Designation: C-Level- 35%, Manager Level- 25%, Others- 40%
By Region: North America- 30%, Europe- 23%, Asia-Pacific- 17%, South America- 16%, and Middle East & Africa- 14%

Note: The tier of the companies has been defined on the basis of their total revenue; as of 2015: Tier 1 = >USD 1 billion, Tier 2 = USD 100 million to USD 500 million, and Tier 3 =