USD 4.31 billion
Report ID: SQMIG15E2206 | Region: Global | Published Date: June, 2023 | Pages: 157 | Tables: 64 | Figures: 77
Global Thermal Ceramics Market size was valued at USD 4.31 billion in 2021 and is poised to grow from USD 4.65 billion in 2022 to USD 7.92 billion by 2030, at a CAGR of 7.9% during the forecast period (2023-2030).
Thermal ceramics are utilized in the oil and gas industry for a variety of purposes, including burner insulation, reactors, heating centers and boilers. Thermal ceramics are highly sought after in the energy sector as solar energy production has increased. They are used in solar panels along with photovoltaics for effective power generation. This use of thermal ceramics in the power generation industry promotes market expansion. The demand for thermal ceramics is further stimulated by an increase in building and construction activities in the Asia-Pacific region, which propels market expansion. The market for thermal ceramics is nevertheless constrained by the fact that ceramics are carcinogenic. Throughout the projected period, the market expansion is anticipated to be fuelled by the product's extensive use in process heaters, ceramic heaters, and high-temperature filtration products.
Global Market Size
USD 4.31 billion
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Global Thermal Ceramics Market is segmented on the basis of type, end user and region. By type, the market is segmented into ceramics fabrics and insulation bricks. By end user, the market is segmented into mining & metal processing, chemicals & petrochemicals, construction, manufacturing, power generation, aerospace. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
Over the course of the forecast period, the ceramics fibers market category is anticipated to grow at a CAGR of 5.1%, accounting for the majority of market share. The process of melting and blowing in furnaces is used to create ceramic fibers, a type of fiber refractory. The thermal stability offered by these fibers is lightweight. They are also utilized in fire prevention systems because of their excellent thermal insulation. The thermal shock resilience of ceramic fibers is exceptional. They also have little heat storage and may be quickly and easily installed. The sound permeability and corrosion resistance of ceramic fibers are both quite good. Due to their excellent chemical stability, they are employed as an asbestos replacement. Depending on the situation, they can be molded into any size and shape. The use of ceramic fibers in a variety of industries, including as oil and gas, chemicals, aluminum, transportation, glass, and general engineering, serves as a catalyst for the industry and fosters the expansion of the thermal ceramics market.
The Fastest growing share will belong to the insulating bricks segment. Insulation bricks are made of low-density, light-weight refractory materials. In addition to having low thermal conductivity, they feature a high amount of thermal insulation. Additionally, they provide competitive strength and greater thermal shock resistance. Clay is the major raw material utilized to make these bricks. Depending on the listed features, they come in several variants. Mullite insulation bricks, alumina bubble bricks, lightweight clay insulation bricks, and lightweight silica bricks are a few of the different types of insulation bricks that are available. They are used in many different industries, such as non-ferrous metals, glass, electrolytic aluminum, iron and steel, ceramics, and power generation. Applications and benefits of insulation bricks.
Analysis by End Use
As it expands at a CAGR of 5.2%, the mining and metal processing industrial segment is anticipated to maintain its dominant market position. It can be difficult to contain fire outbreaks in the mining and metal processing industries, and doing so will help to reduce loss. When extracting and processing metals, gasses and other combustible elements must be handled with the utmost care and concern. A mine fire can start with just a little leak or the improper handling of combustible materials, resulting in a substantial loss. Ceramic fibers are used in the production of seals in furnaces, kilns, and blasters to stop thermal leakage. Due to the considerable need for thermal ceramics in the production and processing of metals, mining and metal processing is the largest end-use industry for thermal ceramics. Thermal ceramics are needed for kilns, furnaces, and other high-temperature insulation applications as a result of a considerable growth in metal production. Additionally, they are used in casting nozzle covers, secondary insulation for reheating furnaces, hot-face lining for heat-treatment furnaces and annealing furnace cover seals. These uses for thermal ceramics encourage market growth.
The Fastest growing share will be held by the chemical and petrochemical category during the forecasted period. In the chemical and petrochemicals business, thermal ceramics are becoming more and more common. They serve as high-temperature sealing materials, catalytic transport media for radioactive particles, and lining materials for reformer and cracker furnaces. There are several thermal reactions and releases involved in chemical and petrochemical processes. Among other advantageous qualities, thermal ceramics have high chemical stability, thermal insulation, and corrosion resistance. For the chemical and petrochemical industries, thermal ceramics with these characteristics are both effective and attractive. The market is expanding overall as a result of the rising demand for these items.
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With the highest market share and a CAGR of 5.15% during the forecast period, North America will maintain its dominance. The United States' refractory sector has had rapid growth, which is assisted by the existence of huge firms, and is to blame for the region's supremacy. About 60% of the region's revenue came from the United States, with Canada coming in second. Because of their exceptional resilience to high temperatures, thermal ceramics find considerable use in the aircraft sector. They are able to do this and meet the strict performance, temperature, and weight requirements of spacecraft. One of the major drivers propelling the growth of the thermal ceramics market in North America is this, along with the region's governments' increased investments in space exploration.
With a CAGR of 5.31%, Asia Pacific will increase its market share to USD 1,854 million. Due to rising investments in infrastructure projects, the Asia-Pacific region is experiencing rapid expansion and demand for thermal ceramics. The regional market for thermal ceramics is boosted by these operations. In addition, there is a rise in industrial activity throughout the area, particularly in India, Vietnam, Indonesia, and Thailand. The rise of the region's chemical and petrochemical end-use industries is being driven by the need for chemicals in a wide range of end-use applications. The Asia Pacific region will be driven by the chemical industry segment.
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Increasing Demand for Lightweight Materials
Growing Focus on Fire Safety
Availability of Alternative Insulation Materials
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A competitor-by-competitor breakdown of the thermal ceramics market is provided. Company overview, financials, revenue generated, market potential, R&D investment, new market initiatives, global presence, production sites and facilities, production capacity, product launch, product width and breadth, and application domination are among the details provided.
Top Player’s Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the thermal ceramics market has been witnessing steady growth due to increasing industrialization, infrastructure development, and the need for energy-efficient solutions. The market size is expected to reach a significant value, driven by the demand from various industries such as steel, cement, glass, petrochemicals, automotive, aerospace, and electronics. Several drivers are fuelling the growth of the thermal ceramics market. These include the growing demand for high-temperature insulation materials, increasing focus on energy efficiency and sustainability, stringent environmental regulations, lightweight material requirements, emphasis on fire safety, advancements in manufacturing technologies, and the adoption of thermal ceramics in emerging economies. The global thermal ceramics market is poised for substantial growth, driven by the demand for high-temperature insulation, energy efficiency, and sustainable solutions across various industries.
|Market size value in 2021||USD 4.31 billion|
|Market size value in 2030||USD 4.65 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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For the Global Thermal Ceramics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Thermal Ceramics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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