The global thermal ceramic market is anticipated to grow at a CAGR of around 9% in terms of revenue during the forecast period 2020 – 2027 and expected to reach market size of around US$ 6,400 Mn by 2027.
In industries which produce or use high-temperature insulation, the temperature control is an essential parameter. Thermal ceramics not only allow temperature control and avoid heat losses and thus are in great demand for these products. The increasing demand for energy-saving and rapid industrialization is driving the growth of the thermal ceramics market in emerging economies. Ceramic fiber products are commonly utilized by different methods and operations due to their useful characteristics including low thermal conductivity, low temperature transport, high tensile strength, thermal shock resistance, and sound absorption.
Growing infrastructural development in the developing countries is the major factor driving the growth of global thermal ceramic market. The growing demand for the product has been fulfilled by increased thermal ceramic applications, such as process heaters, high temperature filtration and ceramic furnaces. Ceramic fibers are the most common thermal ceramics due to various their favorable features as the wide range of temperatures, light weight and low thermal conductivity that drive the growth of the market for thermal ceramics, among others. The improved flexibility that allows ceramic fibers transform in any shape is another feature of ceramic fibers, and is thus mostly utilized in the end-user industries, including glass, ceramics, petrochemicals and aluminum. Environmental issues and the carcinogenic nature of ceramic fibers are factors that can hinder market development.
The manufacturing end-use industry segment is projected to grow at the highest CAGR during the forecast period.
The manufacturing segment by end-use of the thermal ceramic market accounts to hold large market share of global market due to increasing industrialization and urbanization due to increasing demand in the cement industry. Also, this segment includes industries such as cement, glass, automotive, electronics, and refractory. Increasing automotive and electronics production has also allowed the thermal ceramics market to expand.
The market research study on “Thermal Ceramic Market (By Type: Ceramic Fibers, Insulation Bricks; By Temperature Range: 650 to 1,000 ºC, 1,000 to 1,400 ºC, 1,400 to 1,600 ºC; By End-Use: Mining & Metal Processing, Chemical & Petrochemical, Manufacturing, Power Generation, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global thermal ceramic market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global thermal ceramic market are offering rated type, temperature range, end-use, and major geographic regions. The thermal ceramic market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
Asia Pacific accounts to hold large market share of global thermal ceramic market and is expected to grow during forecast period due to increasing adoption of thermal ceramics for furnaces that are mainly used in smelting, mining, and metal alloy machinery. The increase in steel production is also expected to fuel demand for furnaces, owing to growth in end-use industries in countries such as India and Japan, which is likely to drive regional market growth during forecast period. North America is the second largest market for thermal ceramics in 2019 due to increasing number of infrastructure projects in the region. According to the American Society of Civil Engineers, by 2025, the U.S. wants to spend nearly US$ 4.5 trillion on roads, dams, highway, and others. The demand for clean energy sources is expected to rise dramatically in Europe during forecast period. According to the European Commission, in 2018, Sustainable energy usage is expected to reach 18.9% of the total energy consumed in the country, reaching 32% by 2030. More green energy will be used to boost the need for solar panels, and the use of thermal ceramics will also be increased.
Major players included in this report Rath & Company, Mitsubishi Chemical Corporation, LLC, 3M, RHI Magnesita, YESO Insulating Products, Morgan Advanced Materials, CeramTec, Ibiden, FibreCast Inc., Dyson Technical Ceramics and others.
The global thermal ceramic market is segmented as below:
Thermal Ceramic Market By Type
Thermal Ceramic Market By Temperature Range
Thermal Ceramic Market By End-Use
Thermal Ceramic Market By Geography
Middle East & Africa
The market value of thermal ceramic is anticipated to be around US$ 6,400 in 2027.
The thermal ceramic market is anticipated to grow around 9% CAGR amid the forecast period 2020-2027
Asia Pacific held maximum share in 2019.
Asia Pacific is projected to grow at a fast pace during forecast period from 2020-2027.
Rising demand for saving energy is the major drivers for the growth of the thermal ceramic market.
Environmental concern for refractory recycling is a major factor expected to restraint the growth of the market.
Major players included in thermal ceramic market are Rath & Company, Mitsubishi Chemical Corporation, LLC, 3M, RHI Magnesita, YESO Insulating Products, Morgan Advanced Materials, CeramTec, Ibiden, FibreCast Inc., Dyson Technical Ceramics and others.