Pune, India, May 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Thermal Ceramics Market.
According to the MRFR analysis, the Global Thermal Ceramics Market is expected to reach over USD 6 Billion by the end of 2027 at a CAGR of 4.5%.
The growth of the global thermal ceramics market is primarily driven by the growth of the chemical, petrochemical, cement, energy & power sector, and iron & steel industry. Furthermore, the increasing need for energy saving and green initiatives is expected to support the demand for thermal ceramics across various industries. The thermal ceramics offer superior thermal insulation, which helps in reducing heat loss, energy-saving, and lowering the overall operational costs.
The price of thermal ceramics varies according to the type and the density of the material. The average price of the thermal ceramic ranges from USD 4,100 per ton to USD 7,800 per ton.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/thermal-ceramics-market-9514
By End-Use Industry
Chemical & Petrochemical: This segment is expected to witness healthy growth during the forecast period. This growth can be attributed to increasing investments in capacity expansion and the shifting production base in Asia-Pacific.
Metal & Metallurgy: This segment accounted for the largest share of the global thermal ceramics market in 2019 and is expected to witness healthy growth during the forecast period. The growth of this segment driven by the increasing demand for steel, aluminum, and other metals and alloys, especially from the construction and automotive industries.
Food & Beverage: The long-term outlook of the food & beverage segment is expected to remain positive backed by socio-economic trends, such as economic growth, urbanization, changing demographics, population growth, and increasing per capita disposable income.
Power Generation: According to International Energy Outlook 2017, global energy consumption is expected to grow by 28% between 2015 and 2040. These energy demands are expected to propel the growth of the global thermal ceramics market during the forecast period.
Manufacturing: The recovering global economic growth and rapid industrialization in the emerging economies is expected to drive the growth of the manufacturing segment during the forecast period.
Others: The others segment includes the application of thermal ceramics in the automotive, construction, and electrical & electronics industries.