Key advancements in the construction industry is leading the global thermal ceramics market onto a high growth trajectory. The steady CAGR (Compound Annual Growth Rate) is set to create new growth opportunities and improve the market worth substantially.
Over the next 30 years, population will increase significantly. As per a recent study, by 2050, there would be an increase in global population by 2 billion. That means it will hit the mark of 9.7 billion by 2050 from the current 7.7 billion. This means there will be demand for more buildings – residential, commercial and recreational.
And, thus it does not come as a surprise to anyone that the construction volumes are set to increase by 85% by 2050. And, it is also pertinent to note here that a large share of 57% will be held by three countries – the United States of America, India and China.
Besides, rising demand for power generation and mining and metal processing will also propel the global thermal ceramics market onto a higher trajectory. North America and Europe are set to dominate the global thermal ceramics market owing to increase in use of thermal ceramics for generation of power. And, this will be noted across industry verticals.
Another region that will demonstrate great potential and a significant CAGR is the Asia Pacific (APAC) region owing to improvement I economic performance. Sturdy growth numbers are leading to better standard of living and rising disposable income. This means a number of untapped opportunities will emerge from the region.
The global thermal ceramics market landscape is fragmented owing to presence of numerous players – regional as well as international. Some of the most prominent players flanking the market landscape are Morgan Thermal Ceramics, Luyang Energy Saving Materials, Mitsubishi Chemical Corporation, and YESO Insulating Products.
Global Thermal Ceramics Market: Overview
The demand within the global thermal ceramics market has been rising on account of key advancements in the constructions industry. These ceramics come in handy while building houses, industrial spaces, and commercial enclosures that require thermal insulation of high order. Thermal ceramics are not readily available and they need to be manufactured after a thorough chemical process, and this leads to the high performance, durability, and effectiveness of these ceramics. Thermal ceramics are manufactured by blending multiple insulation products such as kaowool, ceraablanket, and low persistent materials. Hence, the resultant products endow commendable properties of thermal insulation which is a key requirement in several industries and sectors. Several other industries and sectors other than the constructions industry have also become key consumers of thermal ceramics which is expected to drive demand within the global thermal ceramics market in the years to come. Owing to the aforementioned factors, the demand within the global market for thermal ceramics is projected to touch new heights in the years to come. Insulation bricks and ceramic fibers are some of the key types of thermal ceramics used across various industries.
The global thermal ceramics market may be segmented on the basis of the following parameters: type, end-use industry, temperature range, and region. To get a clear view of the market dynamics, it is imperative to immerse into the aforementioned market segments.
A report on the global thermal ceramics market added by Transparency Market Research (TMR) lays value on some of the key reasons behind the growth of this market. Furthermore, the report follows an exhaustive approach in elucidating the various dynamics of market growth.
Global Thermal Ceramics Market: Trends and Opportunities
The growth of the global thermal ceramics market largely hinges on advancements in the constructions industry. The need to build thermally insulated spaces can only be met with the use of thermal ceramics such as insulation bricks or ceramic fibers, thus, propelling market demand. The use of thermal ceramics in the field of mining and metal processing has also played a pivotal role in market growth in recent times, and is expected to bring in key revenues into the market. Moreover, the chemicals industry has been a historic consumer of thermal ceramics for the purpose of experimentation as well manufacture of key products. The petrochemical industry, on the other hand, is a relatively nascent consumer of thermal ceramics that has emerged on the global front. Manufacturing processes spanning across a range of industries shall also be a key driver of market demand in the years to come.
Global Thermal Ceramics Market: Regional Landscape
On the basis of geography, the demand within the market for thermal ceramics in North America and Europe has been rising due to the use of thermal ceramics for power generation across multiple industries. Moreover, the constructions industry in these regions has also grown at a rapid pace, and the relevance of thermal insulation in the former shall drive regional market demand in the years to come.
Global Thermal Ceramics Market: Competitive Landscape
Some of the key players in the global thermal ceramics market are Morgan Thermal Ceramics, Luyang Energy-Saving Materials, Mitsubishi Chemical Corporation, and YESO Insulating Products.
Global Thermal Ceramics Market: Based on Type
- Ceramic Fibers
- Insulation Bricks
Global Thermal Ceramics Market: Based on End-Use Industry
- Mining & Metal Processing
- Chemical & Petrochemical
- Power Generation
Global Thermal Ceramics Market: Based on Region
- North America
- Asia Pacific
- The Middle East and Africa
- Latin America
This report gives access to decisive data, such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report include:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.