New York, Oct. 01, 2019 (GLOBE NEWSWIRE) -- Growing adoption of thermal ceramic materials in various end-use industries and rising demand for energy saving applications are propelling the market growth.
The global thermal ceramics market is forecast to reach USD 6.48 Billion by 2026, according to a new report by Reports and Data. Thermal ceramics helps in decreasing energy consumption and emission in various industrial applications. Ceramic materials possess different thermal properties such as thermal expansion, thermal conductivity, thermal shock resistance, heat capacity, and maximum service temperature. These ceramics have application while building houses, industrial spaces, and commercial enclosures that require thermal insulation of high order. The market for thermal ceramics is influenced by the growing mining and metal processing industries.
The above –mentioned factors collectively create opportunities for the market growth while factors such as unfavorable effects of thermal ceramics on the human body pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancement in the thermal ceramics market owing to innovative efforts have enhanced the efficiency of thermal ceramics.
The Asia Pacific is a key region for thermal ceramics in the forecast period. This is due to the growing industrialization in the region. Along with that, the region has a strong base in the chemical industry, which is growing at a very fast rate. Countries like China and India are investing heavily in their industrial developments to serve the need of the growing population.
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Further key findings from the report suggest
- Ceramic fibers held a larger market share of 61.2% in the year 2018. Ceramic fibers possess some superior properties in comparison to other types such as low thermal conductivity, low thermal inertia, no preheat requirement, low density, chemical stability, and others. These are also light-weight and convenient to install.
- The 1,000-1,400°C temperature range segment is forecasted to grow with the highest CAGR of 8.5% during the forecast period. This is due to the product operating at this range can be used in various applications such as high-temperature filtration, back up lining for metal troughs, gaskets for high-temperature application, and others.
- Mining & metal processing segment held the largest market share of 35.1% in the year 2018. This is due to the high demand for thermal ceramics in the production and processing metals. The hefty production of metals has resulted in heavy demand for thermal ceramics in furnaces, kilns, and other high-temperature insulation applications.
- Asia pacific is forecasted to grow with the highest CAGR of 8.9% during the forecast period. The growing chemical and petrochemical industries had led to increased investment in the thermal ceramics market.
- Key participants Morgan Thermal Ceramics, Unifrax, IBIDEN, Isolite Insulating Products, Luyang Energy-Saving Materials, RHI Magnesita, Rath, Mitsubishi Chemical Corporation, 3M, and YESO Insulating Products among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/thermal-ceramics-market
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented into the global Thermal Ceramics market on the basis of type, temperature range, application, and region:
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Ceramic Fibers
- Insulation Bricks
Temperature range Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- 650-1,000°C
- 1,000-1,400°C
- 1,400-1,600°
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Mining & Metal Processing
- Chemical & Petrochemical
- Manufacturing
- Power Generation
- Others
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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