Thermal ceramic fabrics to bring thermal ceramic sales to a total of $ 6 billion by 2031: Fact.MR survey concludes
NEW YORK, July 9, 2021 / PRNewswire / – Fact.MR analysis predicts that the global thermal ceramics market will reach a valuation of US $ 6 billion by 2031 compared to market turnover of US $ 4 billion recorded in 2020. Due to the strong increase in demand from the manufacturing industry, the thermal ceramics market is expected to project growth at a robust CARG of 7% during the forecast period 2021 to 2031.
One of the main factors behind the sale of thermal ceramics growing number of electric vehicles around the world. An estimate from the International Energy Agency (IEA) indicates that the number of sales of electric vehicles in terms of units is expected to reach around 125 million by 2030. Since thermal ceramic fibers play an important role in maintaining the optimum temperature level for the vehicle battery. packs, the demand for thermal ceramics is expected to strengthen in the coming years.
However, the unprecedented outbreak of the novel coronavirus k has significantly affected the thermal ceramic landscape. The outbreak caused global manufacturing prospects to contract amid mandatory lockdowns, subsequently leading to lower sales in the first and second quarters of 2020. Nonetheless, with the resumption of on-site manufacturing activities due to a Loosening of the foreclosure, the market is expected to project sustainable growth.
The manufacturing industry dominates the segment, accounting for a revenue share of over 50% across the world, due to the high demand for thermal ceramic products from an increasing number of boilers, furnaces and other equipment. heat treatment industry.
With sales of thermal ceramic fabrics expected to increase to 7% CAGR between 2021 and 2031, market players will have a lucrative outlook on which to capitalize. These fibers are made from alumina and silica and are widely used due to their low thermal conductivity.
âDue to the increase in the number of electric vehicles, the major players in the market are focusing on the development of high performance, durable and low thermal conductivity thermoelectric ceramics to meet the growing demand for better thermal conductivity for electric vehicle batteries, “ says Fact.MR analyst.
Request a sample report for complete information on
Key points to remember from Thermal Ceramics Market analysis
- The US thermal ceramics market is expected to exceed a valuation of $ 1 billion by 2021, driven by the increase electric vehicle manufacturing in the countryside.
- Asia Pacific dominates the global thermal ceramics market due to the high demand for power generation and metal processing and mining in the region.
- The market in China is likely to increase at a substantial CAGR of 11% over the forecast period
- Based on product type, thermal ceramic fibers are estimated to dominate the segment, projecting sales increase at a CARG of 7% through 2031.
- Japan and Canada are expected to emerge as lucrative markets, growing at a CAGR of over 10%, respectively, during the evaluation period.
- The continued expansion of the manufacturing sector is fuel demand for thermal ceramics.
- Increase in the number of electric vehicles creating sales opportunities for thermal ceramics.
- The growing awareness of clean renewable energy sources is driving the growth of the market.
- The carcinogenic nature of thermal ceramic fibers is hindering the growth of the market.
- Strict government regulations for new product launches is a key factor holding back the growth of the thermal ceramics market.
Request customization of thermal ceramics market at
Leading manufacturers in the thermal ceramics market aim to launch new product lines for multiple end-use industries and focus on strategic collaborations and acquisitions as key expansion strategies. In addition to this, some market players focus on exporting their products to other countries to increase their revenue share. For example,
- Luyang Energy-Saving Materials Co. Ltd., an inorganic fiber materials manufacturer based in China, shipped 36 containers of luyangwool ceramicR fiber roofing products to Vietnam in June 2021.
- In January 2020, Morgan Thermal Ceramics, a UK-based company, has announced the launch of a new active and passive thermal management system to make a foray into the automotive industry.
Some of the major players operating in the thermal ceramics market presented by Fact.MR are:
- BNZ Materials Inc.
- Ibiden Co. Ltd.
- Isolite Insulation Products Co. Ltd.
- Luyang Energy-Saving Materials Co. Ltd.
- Mitsubishi Chemical Corporation
- Morgan Thermal Ceramic
- Promat GmbH
- Pyrotek Inc.
- Rath AG
- RHI Magnesita NV
- Unifrax I LLC
- Yeso Insulating Products Company Limited
More valuable information on Thermal Ceramics Marlet
Fact.MR in its new report offers unbiased analysis of the global thermal ceramics market, analyzing forecast statistics to 2019 and beyond. The survey reveals growth projections in the thermal ceramics market with detailed segmentation:
- type of product
- Thermal ceramic fibers
- Thermal ceramic insulation bricks
- End use
- Thermal ceramics for mining and metal processing
- Thermal ceramics for chemicals and petrochemicals
- Thermal ceramics for manufacturing
- Thermal ceramics for other end uses
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Key questions addressed in the Thermal Ceramics Market report
- Report provides insight into thermal ceramic demand outlook for 2021-2031
- The market study also highlights the expected sales growth for the thermal ceramics market between 2021 and 2031.
- The thermal ceramics market analysis identifies key growth drivers, restraints, and other forces impacting the prevailing trends and evaluating the current market size and forecast and technological advancement within industry
- Analysis of the thermal ceramics market share of key companies in the sector and coverage of strategies such as mergers and acquisitions, collaborations or partnerships, etc.
Explore Fact.MR’s coverage in chemicals and materials
Ceramics market – Ceramics are widely used in the construction sector, which is developing rapidly around the world, especially in developing countries. Growing economies, urbanization, per capita income and expenditure, GDP growth, and population growth are all driving demand for construction in the housing and trade sectors. Ceramics are also gaining popularity in end-use industries such as electrical and electronics and automotive.
Advanced ceramics market – The high-tech ceramics industry is fragmented, with medium and small companies as well as emerging market players dominating. As major manufacturers expand their advanced ceramics production capabilities, they only account for a small portion of market revenue. Advanced ceramics are in great demand for specific applications in the electronics and automotive industries.
Dielectric Ceramics Market – The intensive use of dielectric ceramics in the wireless communications industry is a major driver of market expansion. In recent years, the wireless communications industry has grown. Cell phones, fax machines (FAX), military radar systems, satellites, intelligent transport systems (ITS) and direct broadcast satellites are all examples of applications of dielectric ceramics in the wireless communications sector. .
Market research and consulting agency with a difference! That’s why 80% of Fortune 1000 companies trust us to make their most critical decisions. We have offices in the United States and Dublin, while our global headquarters are Dubai. While our experienced consultants use the latest technology to extract hard-to-find information, we believe our USP is the trust clients have in our expertise. Covering a wide range – from automotive and industry 4.0 to chemicals and materials & retail, our coverage is extensive, but we make sure that even the most specialized categories are analyzed. Contact us with your goals, and we will be a competent research partner.
US Sales Office:
11140 Rockville Pike
Rockville, Maryland 20852
Phone. : +1 (628) 251-1583
E: [emailÂ protected]