Revenue from the thermal ceramics market totaled approximately US$ 4 Bn in 2020, according to Fact.MR. The overall thermal ceramics landscape is expected to reach nearly US$ 6 Bn by 2031. Sales of thermal ceramic fibers will accelerate, surpassing US$ 3 Bn by the end of the decade.
Key Points Covered in Thermal Ceramics Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Thermal Ceramics and How to Navigate
- Recommendation on Key Winning Strategies
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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.
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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.
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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.
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.
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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
Historical Data Available for
US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Market Segments Covered
- Thermal Ceramics for Mining & Metal Processing
- Thermal Ceramics for Chemicals & Petrochemicals
- Thermal Ceramics for Manufacturing
- Thermal Ceramics for Other End Uses
- Thermal Ceramic Fibers
- Thermal Ceramic Insulation Bricks
Thermal Ceramics Market- Scope of Report
A recent study by Fact.MR on the thermal ceramics market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering thermal ceramics.
The study also provides the dynamics responsible for influencing the future status of the thermal ceramics market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing thermal ceramics, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of thermal ceramics across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of thermal ceramics during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative markets for thermal ceramics?
- Which factors will impact the growth of the thermal ceramics market?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the thermal ceramics industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Market estimates at global and regional levels for thermal ceramics are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global thermal ceramics market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the thermal ceramics market during the forecast period.
Country-specific valuation on demand for thermal ceramics has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of thermal ceramics, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering thermal ceramics has been brought with the help of a detailed dashboard view.
Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the thermal ceramics market.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the thermal ceramics market, and reach conclusions on the future growth parameters.
This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases.
Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- FAQs -
As of 2020, sales of thermal ceramics were valued at nearly US$ 4 Bn.
Thermal ceramics market report estimates a valuation of nearly US$ 6 Bn by 2031.
The thermal ceramics market expanded at around 5% CAGR from 2016-2020.
Expansion of the global manufacturing industry as well as shift towards alternative fuels shall pivot future thermal ceramics sales.
The U.S., China, Japan, Canada, and Germany are driving most of the demand for thermal ceramics.
North America presents credible expansion opportunities, with the U.S. being valued at over US$ 1 Bn in 2020.
Germany exhibits credible expansion potential, topping a CAGR of 4% until 2031.
China shall emerge as the vanguard of the Asian market, expanding at above 10% CAGR.
Demand for ceramic fibers shall remain strong, topping US$ 3 Bn by 2031.
Mitsubishi Chemicals Corporation, Morgan Thermal Ceramics, and Unifrax LLC are some of the major producers of thermal ceramics.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.