Thermal Ceramics Market Trend, Size, Share, Opportunity, Opportunity and Industry Forecast, 2022-2030

 Thermal Ceramics Market Trend

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 2022 to 2030 (forecast period). Iron ore prices affected by the COVID-19 pandemic and its effects will be included in the market report.

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.

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.

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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 market.

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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.

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