Global Thermal Ceramics Market is estimated to record a CAGR of 4.5% during the forecast period and is expected to reach a value of USD 6 billion by 2027.
Thermal ceramics are generally used for high-temperature insulation to reduce energy consumption and emissions in high-temperature processing applications. The growing need for energy savings and reducing carbon footprint is the prime factor driving the thermal ceramic market growth. Thermal ceramics such as refractory ceramic fibers, polycrystalline ceramic fiber, and insulation bricks are widely used in various industrial processes in chemical & petrochemicals, cement manufacturing, power generation, and metallurgy. Thermal ceramics helps in reducing the heat loss, fire protection, and reduce energy consumption, and thus enables the end-use industries to reduce the operational and overall manufacturing cost. Rapid urbanization, industrialization, and increasing infrastructure development are expected to drive the demand for thermal ceramics across the manufacturing, power generation, and chemical industries.
Furthermore, the increasing steel and aluminum production on account of the rising demand from the construction and automotive sectors is expected to drive the growth of the global thermal ceramics market. The thermal ceramics is expected to witness high demand for high-temperature insulation application. However, the availability and use of alternative products are expected to be a restraining factor for the growth of the global market.
Pricing Analysis and Regulatory Framework:
The average price of thermal ceramics varies from USD 4,100 per ton to USD 7,800 per ton.
Some of the key regulatory bodies governing the use of thermal ceramics includes National Institute for Occupational Safety and Health (NIOSH), EU Commission, European Chemicals Agency (ECHA), and Agence française de sécurité sanitaire de l'environnement et du travail (AFSSET).
- Need for power saving and reducing the carbon footprint
- Robust growth of construction industry in Asia-Pacific and North America
- Increasing demand for energy and power in emerging economies
- Availability of close substitutes
- Carcinogenic nature of ceramic fibers and environmental issues related to thermal ceramics
- Ceramic Fiber: The ceramic fiber segment is expected to dominate the market through the forecast period. The ceramic fibers include refractory ceramic fibers, polycrystalline ceramic fiber, and others. The segment is projected to register high growth during the forecast period owing to low thermal conductivity and lightweight characteristics. However, the carcinogenic nature of ceramic fibers is expected to slow its growth during the forecast period.
- Insulation Bricks: Insulation bricks are used in power generation, cement manufacturing, and metallurgy applications. Increasing energy and power demand and growth of the construction industry is expected to drive the growth of the segment during the forecast period.
- Others: The others segment includes ceramic board, bulk ceramic, and paper products. These products are used across the chemical & petrochemicals, glass, and power & energy industries owing to their high resistance to chemical attacks at various temperatures, thermal shock resistance, and low heat storage properties.
By End-Use Industry
- Chemical & Petrochemical: Thermal ceramics are used in various high-temperature processes for reducing heat loss and ensuring insulation.
- Metal & Metallurgy: This segment accounted for the largest share of the global thermal ceramics market during the forecast period. The segment is expected to create a demand for thermal ceramics during the forecast period owing to increasing metal production across the globe.
- Power Generation: The increasing energy and power demand owing to rapid urbanization and industrialization are expected to drive the growth of the market during the forecast period.
- Manufacturing: This segment is expected to register healthy growth during the forecast period driven by the high demand for thermal ceramics in industries, such as cement, glass, automotive, and electronics & electrical.
- Others: The others segment includes the use of thermal ceramics in the automotive, electrical & electronics, and construction industries. The segment is expected to witness moderate growth during the forecast period.
- North America
- Latin America
- Middle East & Africa
- Asia-Pacific: Asia-Pacific accounted for the largest share of the thermal ceramics market. The thermal ceramic market is projected to witness robust growth during the forecast period driven by rapid industrialization, urbanization, and increasing construction activities in the region. India, China, Japan, and Indonesia are expected to contribute significantly to the growth of the market.
- North America: North America is expected to witness healthy growth during the forecast period driven by the growth of the construction industry and the increasing automobile production in the region. Furthermore, the growing energy demand and growing iron & steel production in the region is expected to drive the growth of the thermal ceramics market in the region.
- Europe: Increasing efforts towards energy saving and reducing carbon footprint is expected to drive the demand for thermal ceramics in industries such as chemical & petrochemical, metal & metallurgy, and glass.
- Latin America: The improving economic outlook, increasing per capita disposable income, and rising commodity prices are expected to boost the growth of the thermal ceramics market during the forecast period.
- Middle East & Africa: Increasing investments in the energy & power sector and shifting focus towards the construction and manufacturing sectors to ensure economic diversification is expected to drive the market in the Middle East & Africa.
- Morgan Advanced Materials PLC (UK) - Superwool fibre, Cera, Kaowool, and Denka
- Unifrax LLC (US) – Fiberfrax Duraboard
- Luyang Energy-Saving Materials Co., Ltd. (China)
- Ibiden Co., Ltd. (Japan)
- Isolite Insulating Products Co. Ltd. (Japan)
- Nutec Fibratec (US) – MaxWool
- Fibrecast Inc. (Canada)
- 3M (US)
- HIL Limited (India)
Frequently Asked Questions (FAQ) :
Global thermal ceramics market is slated to record a substantial market valuation of USD 6 billion by 2027.
Global thermal ceramics market is projected to register a moderate 4.5% CAGR in the forecast period.
The ceramics fiber segment is expected to observe substantial demand over the review period.
The chemical and petrochemical segment is slated to expand as the fastest-growing segment.
A few eminent market players operating in the global thermal ceramics market are Fibrecast Inc. (Canada), 3M (US), HIL Limited (India), among others.