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Thermal Ceramics Market : Key Stakeholders, Market Dynamics & Competitive Landscape Forecast by 2024

Thermal ceramics helps in reducing energy consumption and emission in a variety of industrial applications. The different thermal properties of ceramic materials are important in design considerations such as thermal conductivity, thermal expansion, heat capacity, thermal shock resistance, and maximum service temperature.

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Among them, the ceramic fibers segment is leading the thermal ceramics market and expected to register the faster growth in the market during the forecast period. This can be attributed to its superior properties, over other types, such as low thermal conductivity, low density, low thermal inertia, no preheat requirement, chemical stability and others. They are also light-weight, flexible and convenient to install.

On the basis of end-use industry, the thermal ceramics market is categorized into chemical and petrochemical, mining and metal processing (iron and steel, aluminum and others), medical, and manufacturing (cement, glass, and others), electrical and electronics, power generation, and others. Mining and metal category is the largest contributor in the market, which can be attributed to the increasing use of these ceramics in the production and processing of metals.

APAC held the largest share in the thermal ceramics market and also expected to register the fastest growth during the forecast period. This is attributed to the growing industrialization in the region. Along with that, the region has a strong base in chemical industry which is growing at a fast rate, owing to the increasing demand of chemicals from countries such as India and China for various applications. These key players in these countries are also investing heavily for the industrial development of their respective nations and in order to serve the need of the increasing population.

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Growing need of energy saving and rapid industrialization in emerging economies are the major growth drivers identified in the thermal ceramics market. Due to the rising environment concerns, the government of various countries is moving towards the sustainable development. To achieve the same, the governments have advised the manufacturers to use environment friendly materials in their buildings and other applications as well.

Some of the major players operating in the global thermal ceramics market are Morgan Advanced Materials plc, Luyang Energy-Saving Materials Co.Ltd., 3M Company, RHI Feuerfest GmbH, Ibiden Co. Ltd., Mitsubishi Chemical Corporation, Yeso Insulating Products Co.Ltd., Isolite Insulating Products Co. Ltd., Bnz Materials Inc., and Rath Group.

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