Thermal Ceramics Market Share investments growth analysis company profiles and forecast to 2027
Thermal Ceramics Market
Overview
Thermal
Ceramics Market is expected to surpass the market value of over USD 5.5 billion
by the year 2027 while registering a CAGR of 4.7% during the forecast period.
Thermal ceramics are
insulation rolls used for high-temperature applications. It is also known as
ultra-high temperature ceramics (UHTC). Its use in the manufacture of
energy-efficient products can increase its application. The global thermal
ceramics market report by Market Research Future (MRFR) outlines pertinent
drivers and restraints for the functioning of production chains and the future
prospects for the period of 2017 to 2025 (forecast period). Iron ore prices
affected by the COVID-19 pandemic and its effects will be included in the
market report.
Market Scope
The global Thermal
Ceramics Market is projected to touch a value of USD 5.8 billion by
2025. It is expected to display a growth rate of 4.8% over the forecast period.
The great need for energy-efficient products and energy savings are likely to
bode well for the market. Thermal ceramics assist in reducing heat loss and
energy consumption in industries of cement manufacturing, metallurgy, chemicals
& petrochemicals, and power generation.
Rapid urbanization and
industrialization and modernization of public infrastructure can beckon the
requirement of thermal ceramics. Rise in aluminum and steel production to cater
to the demand of automotive and construction sectors can fuel the global
thermal ceramics market growth.
But availability of
alternatives can hamper the market growth.
Segmentation
The global thermal
ceramics market is segmented by type and end-use industry.
By type, it is segmented
into insulation bricks, ceramic fiber, and others. Ceramic fibers are expected
to dominate the market owing to its lightweight nature and low thermal
conductivity. But its carcinogenic
nature can impede the segment growth. On the other hand, insulation bricks are
predicted to register a significant growth rate owing to massive demand for
energy and power in the construction sector.
By end-use industry, it is
segmented into power generation, metal & metallurgy, chemical &
petrochemical, manufacturing, and others. The metal & metallurgy segment
accounted for the largest market share due to the increasing demand for metal
globally. The use of zirconium based thermal ceramics for protecting boiler
assemblies in nuclear plants can bode well for the segment. On the flip side,
the power generation segment will induce heavy demand in the global thermal
ceramics market owing to high-temperature insulation requirements. The
manufacturing segment is slated to register a healthy growth rate owing to
demand in automotive, electrical & electronics, cement, and glass
industries.
Regional Analysis
North America, Europe, Asia
Pacific (APAC), Latin America, and the Middle East & Africa (MEA) are key
regions of the global thermal ceramics market.
APAC accounted for the
largest market share owing to rapid industrialization and construction
activities in Japan, China, India, and Indonesia. The resuming of mining
operations in China and the return of miners can bode well for the market. Customized
UHT ceramics in addition to greenhouse gas restrictions imposed on industries
can bode well for the global thermal
ceramics inc.
North America is touted to
register a strong growth rate during the forecast period owing to high
consumption of energy and massive demand from the manufacturing sector. The
spike in iron and steel production can fuel market demand.
Lastly, MEA and Latin
America regions are predicted to display good growth rates due to stable
economic growth, rise in per capita income levels, and rise in commodity
prices. Rising investments in the energy sector is likely to warrant demand for
thermal ceramics.
Competition Outlook
Fibrecast Inc., HIL
Limited, Nutec Fibratec, Ibiden Co., Ltd., Luyang Energy-Saving Materials Co.,
Ltd., Morgan Advanced Materials PLC, Isolite Insulating Products Co. Ltd., 3M,
and Unifrax LLC are key players of the global thermal ceramics market.
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