Thermal Ceramics Market

Market Outlook for Thermal Ceramics

The global thermal ceramics market revenue totaled approximately US$ 4 Billion in 2020, according to Fact.MR. The overall thermal ceramics landscape is expected to reach nearly US$ 6 Billion by 2031. Sales of thermal ceramic fibers will accelerate, surpassing US$ 3 Billion by the end of the decade.

Thermal Ceramics Industry Analysis from 2016-2020 Vs Demand Outlook for 2021-2031

Sustained growth of the global manufacturing sector coupled with the scramble for alternative energy sources collectively drove growth of the global thermal ceramics market from 2016 to 2020, closing in at almost US$ 4 Bn. This trend is likely to be replicated over the decade.

Amidst the COVID-19 pandemic crisis, forecasts have been revised to reflect the abovementioned figure, attributed to a contraction in manufacturing operations as a consequence of mandatory cessation of industrial activities to contain the virus’s spread. As per Fact.MR’s thermal ceramic market insights, a robust 7% CAGR has been forecast for the 2021-2031 assessment period.

How is Clean Technology Driving Sales of Thermal Ceramics?

As sustainability concerns mount, countries worldwide are transitioning towards more renewable sources of energy, including solar and wind power. Consequently, thermoelectric ceramics are experiencing significant growth, spurring numerous innovations in the field of energy generation.

For instance, thermoelectric ceramics are instrumental in the automotive industry, helping attain 75% of energy conservation which is typically lost to the environment in conventional internal combustion engine propelled vehicles. Likewise, thermoelectric ceramics are also used in conjunction with photovoltaic cells to produce solar energy with far greater efficiency.

Will Broadening Global Manufacturing Base Open Growth Frontiers for Manufacturers of Thermal Ceramics?

According to the United Nations Industrial Development Organization (UNIDO), the global manufacturing sector is experiencing a gradual recovery since Q4 2020, as recessionary impacts of the COVID-19 pandemic stave off. An increase of 2% was noted since then. Manufacturing production in developing and emerging industrial economies, excluding China, increased by 3.2% in Q1 of 2021.

Such optimistic trends are laying fertile ground for future uptake of thermal ceramics for multiple purposes across major industries. The thermal ceramics industry analysis forecasts that uptake is expected to be especially strong across the emerging economies of East Asia and South Asia.

What are the Key Challenges Impacting Thermal Ceramic Sales?

In spite of surging popularity of thermal ceramics, certain thermal ceramic fibers are carcinogenic, a fact that is expected to restrain future uptake by prominent industries. Studies have indicated development of malignant lung tumors upon inhalation.

Furthermore, attributed to such properties, several companies have to comply with tough governmental legislations which often delays product launches into the market. This is expected to hinder generation of revenue pools in key markets in the short-run.

Country-wise Analysis

Why is the U.S. an Important Market for Thermal Ceramic Suppliers?

The market for thermal ceramics across the U.S surpassed US$ 1 Bn in 2020. Amongst all industrial applications, demand is expected to remain strongest in the EV market, as prominent manufacturers increasingly seek effective thermal conductivity mitigation solutions for vehicle batteries.

The International Energy Agency estimates that nearly 300,000 new electric cars were registered in the U.S, out of which 78% were battery electric vehicles (BEVs). Hence, prominent manufacturers such as Morgan Thermal Ceramics have intensified their presence across the country, offering a broad range of materials and components incorporating advanced fiber technology for EV lithium ion battery systems.

How is China Generating Growth Prospects for Manufacturers of Thermal Ceramics?

According to Fact.MR, the market in China is forecast to expand at a staggering rate of nearly 11% CAGR across the 2021-2031 analysis period. Like the U.S., sales across China are majorly influenced by an expanding EV market. In 2020, sales expanded moderately by 12% to reach 1.34 Mn units. Hence, uptake for manufacturing various components will rise.

In addition, a flourishing manufacturing sector is expected to broaden thermal ceramics demand outlook across the East Asian giant. Contributing over 40% of its GDP, manufacturing across China includes several key industries such as construction, automotive, chemicals & petrochemicals and oil & gas to name a few. These are some major end users of thermal ceramics for various operations.

Category-wise Insights                  

Will Manufacturing Emerge as Primary End Use of Thermal Ceramics?

As per Fact.MR’s thermal ceramics industry analysis, industrial manufacturing is anticipated to emerge as the dominant end use until 2031, accounting for over 50% of the global revenue share. Demand is being spurred by extensive uptake of furnaces, boilers and other thermal processing equipment.

As key production processes, including metal smelting, steel production and thermal power generation, involve high temperatures, thermal ceramics demand outlook is expected to remain strong in the forthcoming decade, as factories invest in temperature containment solutions.

Why are Thermal Ceramic Fibers Sales Forecasts Strong?

Sales of thermal ceramic fibers are expected to incline at above 7% CAGR to top US$ 3 Bn by the end of the forecast period. Fibers manufactured from alumina and silica are expected to be most widely used, owing to low thermal conductivity, resulting in less heat dissipation from furnaces.

Further insights into the thermal ceramic fibers landscape reveal that demand is poised to remain unwavering, as end users increasingly demand lightweight yet robust heat dissipation reduction and high temperature stability ceramics to make production processes more efficient.

Competitive Landscape

Prominent thermal ceramic manufacturers rely on new product launches, collaborations, acquisitions and mergers amongst other expansion strategies. Some notable developments in this regard are as follows :

• In June 2021, Luyang Energy-Saving Materials Co. Ltd. shipped 36 containers of luyangwool ceramicR fiber blanket products in Vietnam. As a type of refractory material with excellent heat preservation and fire resistance, ceramic fiber products are deployed across a number of industries.
• In January 2020, Morgan Thermal Ceramics announced its decision to foray into the automotive sector by introducing active and passive thermal management systems to maintain vehicle battery pack temperatures at an optimum level.

Report Scope as per Industry Research on Thermal Ceramics

Attribute	Details
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered	North America Latin America Europe East Asia South Asia Oceania Middle East & Africa
Key Countries Covered	U.S. Canada Germany U.K. France Spain Italy Russia China Japan South Korea India Australia Brazil Mexico Argentina GCC South Africa
Key Market Segments Covered	End Use Type Region
Key Companies Profiled	BNZ Materials Inc. Ibiden Co. Ltd. Isolite Insulating Products Co. Ltd. Luyang Energy-Saving Materials Co. Ltd. Mitsubishi Chemical Corporation Morgan Thermal Ceramics Promat GmbH Pyrotek Inc. Rath AG RHI Magnesita N.V. Unifrax I LLC Yeso Insulating Products Company Limited
Pricing	Available upon Request

Key Market Segments Covered

• By End Use :

  • Thermal Ceramics for Mining & Metal Processing
  • Thermal Ceramics for Chemicals & Petrochemicals
  • Thermal Ceramics for Manufacturing
  • Thermal Ceramics for Other End Uses

• By Type :

  • Thermal Ceramic Fibers
  • Thermal Ceramic Insulation Bricks