According to TechSci Research report, “Thermal Ceramics Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Thermal Ceramics Market stood at USD4.35 billion in 2022 and is anticipated to grow with a CAGR of 4.62% in the forecast period, 2023-2028. The initiatives taken by government based on thermal ceramics has led to favorable market conditions for the Global Thermal Ceramics Market. Several factors contribute to the growth of various thermal ceramics products.
Government funding has played a pivotal and transformative role in shaping the thermal ceramics industry. For instance, in the Midlands, substantial funding has been provided for advanced ceramics, resulting in a significant boost to the development and production of thermal ceramics. This infusion of financial support has empowered manufacturers to invest in extensive research and development activities, driving remarkable levels of innovation in the sector.
The U.S. government’s National Strategy for Advanced Manufacturing is yet another influential initiative that indirectly impacts the thermal ceramics market. This comprehensive strategy actively promotes the widespread adoption of cutting-edge technologies and groundbreaking innovations in manufacturing, with a specific emphasis on the utilization of advanced materials such as thermal ceramics. By fostering an environment conducive to technological advancements, this strategic approach aims to propel the thermal ceramics industry forward, opening up avenues for breakthroughs and driving sustained growth.
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The increasing utilization of ceramics in power generation is bolstering the market. With the growing demand for energy, power plants are actively seeking innovative solutions to enhance efficiency and reliability. Ceramics play a pivotal role in power generation by providing effective thermal insulation and refractory materials in various power plant components such as boilers, furnaces, turbines, and exhaust systems. These materials effectively manage high temperatures and prevent heat loss. By minimizing heat transfer and maintaining stable operating conditions, thermal ceramics improve energy efficiency and reduce fuel consumption.
Moreover, their exceptional resistance to extreme temperatures, thermal shock, and chemical corrosion ensures the longevity and reliability of power generation equipment. This not only enhances the safety of power plants but also reduces downtime and maintenance costs. As the world transitions towards sustainable energy sources, ceramics are also employed in renewable power generation technologies such as solar thermal plants and geothermal power plants. These materials facilitate the capture and retention of heat in solar receivers and geothermal wells, enabling efficient energy conversion.
The Global Thermal Ceramics Market is segmented into type, end user, regional distribution, and company
Based on its end user, the others segment held the largest share in the market. The industrial segment has emerged as the leading market player, capturing more than half of the market share. This dominance can be attributed to the surging demand for furnaces and boilers across a wide range of end-use industries such as metal, glass, and cement. Specifically, within the metal manufacturing industry, there is a projected acceleration in the demand for thermal ceramics. This growth is directly linked to the increasing steel production, where ceramic fiber, primarily composed of alumina and silica, plays a pivotal role. The remarkable feature of ceramic fiber lies in its low thermal conductivity, which minimizes heat dissipation from the furnace, ultimately resulting in exceptional energy-saving properties. Consequently, this makes ceramic fiber an ideal choice for the inner linings of various reheating furnaces within steel making plants.
Based on region, Asia Pacific segment is expected to grow during the forecast period.
The rise in demand for furnaces, which are extensively used in mining, smelting, and metal alloy machinery, can be attributed to several factors. Firstly, the increasing steel production in countries like India and Japan has led to a significant growth in the end-use industries. This surge in steel production not only drives the demand for furnaces but also creates a positive ripple effect on the regional market growth. Additionally, the continuous advancements in furnace technology, such as improved energy efficiency and automation, have further contributed to the growing demand. As a result, the market for furnaces is expected to witness substantial growth in the coming years, driven by these various factors.
Major companies operating in Global Thermal Ceramics Market are:
- CeramTec TopCo GmbH
- Dyson Technical Ceramics Limited
- FIBRECAST INC.
- Ibiden Co., Ltd.
- ISOLITE INSULATING PRODUCTS CO., LTD.
- Mitsubishi Chemical Corp.
- MORGAN ADVANCED MATERIALS PLC
- RHI Magnesita GmbH
- The 3M Company
- Unifrax Corporation
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“Growing application of thermal ceramics in various end user industries are key drivers of the thermal ceramics market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of thermal ceramics with every passing year are anticipated to register an impressive growth to Global Thermal Ceramics Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Thermal Ceramics Market By Type (Insulation Bricks, Ceramic Fibers), By End User (Chemical & Petrochemical, Mining & Metal Processing, Manufacturing, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Thermal Ceramics Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Thermal Ceramics Market.
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