Over 50% Sales of Thermal Ceramics being Spurred by Manufacturing Sector: Fact.MR
Published : 22 Jun 2021 Industry: Chemical & Materials
The global thermal ceramics market is poised to top US$ 6 Bn by 2031, expanding at around 7% CAGR, according to recent findings published by consulting firm Fact.MR. As per Fact.MR’s report, demand for thermal ceramics is largely underpinned by extensive uptake across the manufacturing industry, along with increased scramble for renewable energy generation across prominent economies.
Until 2020, the landscape expanded significantly, reaching nearly US$ 4 Bn. As the COVID-19 pandemic took precedence, contractions were experienced across the global manufacturing landscape amid mandatory lockdowns to curb infection spread. Consequently, sales of thermal ceramics slumped substantially in the first half of 2020.
However, production levels have experienced a resurgence since the fourth quarter of 2020, as flattening infection curves encouraged major economies to resume on-premise manufacturing activities, thereby sustaining market growth. Major uptake is also anticipated in the automotive sector, as surging EV popularity in the wake of surging need for cleaner fuels acquires momentum. It is expected that the global EV market shall register nearly 50 million unit sales by 2030, thus opening up lucrative growth avenues for market players.
Key Takeaways from Market Study
- By end use, thermal ceramics for the manufacturing sector to account for over 50% of total sales
- By material, thermal ceramic fibers to top US$ 3 Bn by 2031, expanding at over 7% CAGR
- Sales of thermal ceramic insulation bricks to expand at above 6% CAGR until 2031
- Expanding EV batteries market pushing U.S. thermal ceramic sales, surpassing US$ 1 Bn in 2020
- China likely to register a staggering 11% CAGR in the global thermal ceramics landscape until 2031
- Japan and Canada likely to be noteworthy markets, expanding at above 10% CAGRs, respectively
“Proliferating manufacturing industries in various countries is spurring factories to incorporate lightweight, durable, and low thermal conductivity-inducing ceramics to streamline entire production processes,” says a Fact.MR analyst.
Some prominent thermal ceramics manufacturers include BNZ Materials Inc., Ibiden Co. Ltd, Isolite Insulating Products Co. Ltd., Luyang Energy-Saving Materials Co. Ltd., Morgan Thermal Ceramics, Mitsubishi Chemical Corporation, Pyrotek Inc., and Unifrax LLC. These player focus majorly on introducing new product lines for multiple end-use industries, as well as on collaborations and acquisitions.
- Since August 2020, Unifrax LLC has been holding navy approvals for its fire rated divisions across Germany and the United Kingdom. This particularly involves its lightweight FyreWrap® LT marine blanket which provides structural insulation to vessels.
- On similar lines, Ibiden Co. Ltd offers its range of high temperature insulating wool made from ceramic fiber, which features lightweight and flexibility as heat insulators and heat-resistant material. Furthermore, these are highly eco-friendly and non-carcinogenic.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global thermal ceramics market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study divulges essential insights on the market on the basis of end use (mining & metal processing, chemicals & petrochemicals, manufacturing, and other end uses) and type (ceramic fibers and insulation bricks), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa)
Fact. MR’s Domain Knowledge in Chemicals and Materials
Our chemical and material consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the chemical and material sector. Our expertise in recognizing the challenges and trends impacting the global chemical and material industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Consultant – Chemicals and Materials