Rapid industrialization coupled with increase in demand for innovative materials and growing need for energy saving are expected to drive thermal ceramics market
According to TechSci Research report, “Thermal Ceramics Market By Type, By Temperature Range, By End-User Industry, By Region, By Company, Competition, Forecast & Opportunities, 2024”, the thermal ceramics market is expected to grow during the forecast period due to rising adoption in diverse industries on account of thermal conductivity, thermal expansion, thermal shock resistance and flexibility offered by thermal ceramics. Rising need for energy savings and increasing focus on infrastructural development are further fueling the growth of market, globally. However, government regulations on mining activities and environmental concern for refractory recycling are likely to hamper the growth of the market during forecast period.
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The thermal ceramics market is segmented based on type, temperature range, end user industry, region and company. Based on type, the market can be bifurcated into insulation bricks and ceramic fibers. Ceramic fibers are anticipated to dominate the market owing to their flexibility, low weight and low density. Based on temperature range, the market has been segmented into 650–1,000 °C; 1,000–1,400 °C; 1,400–1,600 °C. The 1,000 to 1,400 °C segment is expected to register the highest CAGR during the forecast period owing to the use of ceramics for variety of applications in this temperature range.
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Morgan Advanced Materials plc, Luyang Energy-Saving Materials Co. Ltd., 3M Company, RHI Magnesita N.V., Ibiden Co. Ltd., Mitsubishi Chemical Corporation, Yeso Insulating Products Co. Ltd., Isolite Insulating Products Co. Ltd., Bnz Materials Inc., and Unifrax Corporation are some of the leading players operating in thermal ceramics market. “Asia-Pacific is expected to be the fastest growing market for thermal ceramics during the forecast period, owing to the growing industrialization in this region. Also, the region has a strong base in chemical industry, which is growing at a brisk rate, which can be attributed to the increasing demand for chemicals from diverse application segment across major developing economies such as India and China.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Thermal Ceramics Market By Type, By End User Industry, By Region, By Company, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of the 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 the thermal ceramics market.
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