Thermal Ceramics Market Research, 2027
The global thermal ceramics market was valued at $3.8 billion in 2019, and is anticipated to generate $5.5 billion by 2027. The market is projected to experience growth at a CAGR of 4.7% from 2020 to 2027.The growth of the thermal ceramics market is fueled by increasing applications in aerospace, automotive, and energy sectors, where high-temperature insulation is crucial. In addition, the expanding power generation and chemical industries require advanced thermal materials for efficient and sustainable operations. These industries' demand for enhanced energy efficiency and temperature management continues to drive innovations in thermal ceramics.
Thermal ceramics are ceramics that offer thermal shock resistance, thermal insulation, high tolerance toward high temperature, and thermal expansion. The thermal ceramics market is positively impacted by infrastructural development activities in Asia-Pacific and increased demand from the solar power generation industry. The market growth is restrained by the carcinogenic nature of the product as well as environmental concerns regarding refractories.
Large-scale applications of the product in process heaters, ceramic kilns, and high-temperature filtration products are expected to foster the business growth over the forecast timeline. In addition, thermal ceramic is used in several industries due to its lightweight, low-heat conduction features, enhanced flexibility, and wide temperature range. Apparently, the product also finds extensive applications in glass, petrochemical, aluminum, and ceramics.
The increasing applications of thermal ceramics in the aerospace, automotive, and energy sectors are driving market growth. In aerospace, thermal ceramics are critical for heat shielding and insulation in high-temperature environments. Similarly, the automotive industry uses these materials for engine parts and exhaust systems, ensuring better performance and durability. In energy sectors, especially power generation, thermal ceramics are essential for insulation in high-efficiency turbines and reactors. The growing focus on energy efficiency and environmental sustainability in these industries further propels demand for thermal ceramics.
High production costs are a significant restraint in the thermal ceramics market. The manufacturing of these materials requires advanced processes and specialized equipment, which contribute to high capital and operational expenditures. Furthermore, the cost of raw materials, such as high-purity minerals and ceramic fibers, can be volatile and expensive. These factors lead to higher product prices, making thermal ceramics less affordable for some industries, particularly in emerging markets. As a result, companies may face challenges in maintaining competitive pricing and expanding market reach.
The growth of renewable energy and electric vehicles (EVs) offers significant opportunities for the thermal ceramics market. As renewable energy projects require advanced insulation materials for power generation and storage, thermal ceramics play a crucial role in enhancing energy efficiency. In EV manufacturing, thermal ceramics are used for battery insulation and heat management systems, ensuring optimal performance and safety. These trends, driven by sustainability efforts and technological advancements, are contributing to increased demand for thermal ceramics across industries like power generation and automotive.
The market is segmented on the basis of type and end-use industry. By type, the market is divided into insulation bricks and ceramic fabrics. Similarly, for end-use industry, it is classified into mining & metal processing, chemicals & petrochemicals, construction, manufacturing, power generation, aerospace, and others (maritime & land transport). Region-wise, the thermal ceramics market analysis is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market are CeramTec, Dyson Technical Ceramics, FibreCast Inc., Ibiden Co., Ltd., Isolite Insulating Products Co., Ltd., Mitsubishi Chemical Corporation, Morgan Advanced Materials, RHI Magnesita, the 3M Company, and Unifrax. The players in the market have adopted several strategies, such as product launch and business expansion, to sustain the market competition. The market players are also investing largely into R&D activities, owing to increase in population that directly escalates the demand for energy.
Thermal ceramics market, by type
By type, the market is divided into ceramic fabrics and insulation bricks. The ceramic fabrics segment dominated the market in 2019, and is projected to grow at higher pace during the forecast period, owing to increased use in sealing and filtration applications in steel, chemical, oil & gas, aluminum, glass, transportation, and others industries.
By Type
Ceramic Fibers hold dominant position and is projected to maintain it during the forecast period.
Thermal ceramics market, by end-use industry
By end-use industry, the market is distributed into mining & metal processing, chemicals & petrochemicals, construction, manufacturing, power generation, aerospace, and others. The mining & metal processing segment dominated the market in 2019, owing to excellent thermal insulation properties of thermal ceramics. However, the manufacturing segment is expected to grow at a higher pace during the forecast period, owing to increase in applications in high growth industries such as cement, glass, refractory, ceramic, transportation, and electronics & electrical.
By End Use Industry
Manifactruing is projected as the most lucrative segment.
Thermal ceramics market, by region
By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2019, owing to the presence of large corporations engaged in the automotive and chemical sectors. However, Asia-Pacific is expected to grow at a higher pace during the forecast period, owing to increase in infrastructure and growing steel production.
By Region
Asia-Pacific is expected to be fastest growing during the forecast period.
Key benefits for stakeholders
- The report provides in-depth analysis of the market along with the current & future trends to explain the imminent investment pockets.
- This report highlights the key drivers, opportunities, and restraints of the thermal ceramics market along with the impact analyses during the forecast period.
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the thermal ceramics market for strategy building.
- A comprehensive analysis of the factors that drive and restrain the market growth is provided.
- The qualitative data in this report aims at the thermal ceramics market trends, dynamics, and developments.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable thermal ceramics market share.
Analyst Review
The thermal ceramics market is considered to grow moderately during the forecast period. This is attributed to the rise in demand for thermal ceramics in solar power energy generation for increasing efficiency and rising infrastructure activities & steel production in Asia-Pacific. However, the market has several constraints such as carcinogenic nature of ceramic fibers and growing environmental concerns regarding the refractories. The industry has great potential for growth in low bio-persistent materials and recycling reforms in refractories. Moreover, countries, such as India, Indonesia, and Thailand, are investing in new projects to decrease chemical imports as well as fulfill domestic demands. This is anticipated to drive the chemical industry in APAC. Furthermore, the growth of this industry drives the demand for thermal ceramics in thermal insulation applications.
Thermal Ceramics Market Report Highlights
| Aspects | Details |
 By Type |
|
 By End Use Industry |
|
 By Region |
|
 Key Market Players | UNIFRAX, FIBRECAST INC., Dyson Technical Ceramics Limited, MORGAN ADVANCED MATERIALS PLC, CeramTec TopCo GmbH, ISOLITE INSULATING PRODUCTS CO., LTD., MITSUBISHI CHEMICAL HOLDINGS, RHI Magnesita GmbH, The 3M Company, Ibiden Co., Ltd. |
Analyst Review
The thermal ceramics market is considered to grow moderately during the forecast period. This is attributed to the rise in demand for thermal ceramics in solar power energy generation for increasing efficiency and rising infrastructure activities & steel production in Asia-Pacific. However, the market has several constraints such as carcinogenic nature of ceramic fibers and growing environmental concerns regarding the refractories. The industry has great potential for growth in low bio-persistent materials and recycling reforms in refractories. Moreover, countries, such as India, Indonesia, and Thailand, are investing in new projects to decrease chemical imports as well as fulfill domestic demands. This is anticipated to drive the chemical industry in APAC. Furthermore, the growth of this industry drives the demand for thermal ceramics in thermal insulation applications.
Demand from solar power generation sector and increasing construction and infrastructural activities in Asia-Pacific region are the key factors that drives the market growth.
The market value for 2019 will be $3.8 billion and is expected to reach $5.5 billion by 2027.
The top companies of the market are RHI Magnesita GmbH, Morgan Advanced Materials plc, The 3M Company, CeramTech TopCo GmbH, and Ibiden Co., Ltd.
North America is expected to hold highest share in this market in 2019.
Ceramic fibers accounted for largest market share
The main driver for the market growth is wide applications in mining and metal processing industry.
Construction and manufacturing applications are expected to drive the adoption of the theraml ceramics.
The COVID-19 negatively impacted thermal ceramics market as the major end use industry demand declined for most part of the year 2020.
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