New York, United States, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The Global Cordierite Market Size to Grow from USD 2.4 Billion in 2022 to USD 4.1 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period.
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Due to its low thermal expansion and high thermal shock resistance, cordierite is a popular material in the ceramics industry. It's commonly used in the production of kiln furniture, porcelain, and refractory materials. Cordierite has a significant demand in the automobile industry. Catalytic converters employ cordierite ceramic substrates to help convert toxic emissions into less harmful gases. Due to its great thermal shock resistance, cordierite is a common material for pizza stones and baking stones. It evenly distributes heat, producing in the perfect pizza or bread crust. The size of the cordierite market is influenced by factors such as industrial growth, advancements in manufacturing technology, and environmental constraints driving the desire for cleaner automotive technologies.
Cordierite Market Value Chain Analysis
The initial phase in the process is the extraction of raw minerals such as talc, kaolin, and alumina, which are then combined in specific quantities to produce cordierite. The quality of these essential components has a significant impact on the eventual properties of cordierite. Following the collection of raw materials, they are subjected to a number of processing phases such as mixing, shaping, and firing. This stage of the manufacturing process is essential in determining the final qualities of the cordierite product.Cordierite is utilised in a range of industries, including ceramics, automobiles, and electronics. This requires establishing a network of distributors and suppliers to provide a steady flow of products to end users.
Cordierite Market Opportunity Analysis
Demand for cordierite-based catalytic converters is likely to rise as the world moves towards cleaner, more fuel-efficient vehicles. Cordierite has a huge opportunity in this business as countries implement stricter emission regulations. The ceramics industry is expanding as a result of infrastructure improvements and advancements in production technologies. Cordierite is ideally positioned to benefit from this increase due to its application in kiln furniture and refractory materials. Cordierite's thermal properties make it ideal for applications such as insulating materials in electronic components, which are becoming increasingly popular in the electronics industry. The success of cordierite-based items like pizza stones suggests that the company will expand further into the consumer goods industry.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Cordierite Market Size By Application (Catalytic converters, Cookware and Bakeware, Electrical Insulators, Foundry Applications, Glass industry, Kiln Furniture), By End Use (Automotive Industry, Ceramics Industry, Consumer Goods Industry, Construction Industry), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2032."
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Insights by Application
The kiln furniture segment accounted for the largest market share over the forecast period 2023 to 2032. Globally, the ceramics industry, a key consumer of kiln furniture, is expanding. Because of its low thermal expansion and high thermal shock resistance, cordierite is a useful material for efficient kiln furniture. As governments invest in infrastructure projects, ceramic tiles, sanitaryware, and other building materials are in great demand. Cordierite kiln furniture is crucial in the firing and shaping processes of these ceramic products, promoting growth in this area.
Insights by End Use
The electrical segment accounted for the largest market share over the forecast period 2023 to 2032. Vehicle production is expanding as demand for automobiles rises, particularly in emerging markets. As the vehicle industry expands, so does the demand for catalytic converters, which is where cordierite enters the picture. While the market for electric vehicles is growing, classic internal combustion engine vehicles continue to be popular. As the automobile industry evolves, demand for catalytic converters, and hence cordierite, remains strong for traditional automobiles.
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Insights by Region
North America is anticipated to dominate the Cordierite Market from 2023 to 2032. In North America, cordierite is extensively employed in the automotive industry, primarily in the manufacture of catalytic converters. The region's emphasis on emission control and environmental legislation is expected to maintain robust demand for cordierite substrates for catalytic converters. Cordierite is used in North America's ceramics industry to create kiln furniture, refractory materials, and other ceramic goods. Construction activities, infrastructure development, and technological advancements all have an impact on the demand for these materials.
Asia Pacific is witnessing the fastest market growth between 2023 to 2032. The Asia-Pacific region, particularly China, Japan, and South Korea, is a major hub for automobile manufacturing. The region's growing car production and usage is driving Cordierite demand in catalytic converters. Due to emission control measures and environmental concerns, Cordierite substrates are in great demand. The Asia-Pacific consumer market is large and growing. Cordierite-based consumer goods, including as pizza stones and baking stones, may gain popularity as people seek high-quality, long-lasting products for their homes.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Players in the Global Cordierite Market Includes Steatit S.R.O, Trans-Tech, Inc., Yanshi City Guangming High-Tech Refractories Products Co., Ltd., Du-Co Ceramics Company, Inc., Goodfellow Corp., Kyocera International, Inc., Sinotrade Resource Co., Limited., Yunnan Filter Environment Protection S.&T. Co., Ltd., CoorsTek, Inc., Tianjin Century Electronics Co., Ltd. and Other Key Vendors.
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Recent Market Developments
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Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
Cordierite Market, Application Analysis
- Catalytic converters
- Cookware and Bakeware
- Electrical Insulators
- Foundry Applications
- Glass industry
- Kiln Furniture
Cordierite Market, End Use Analysis
- Automotive Industry
- Ceramics Industry
- Consumer Goods Industry
- Construction Industry
Cordierite Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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