Global Thermal Ceramics Overview 2020 Industry Statistics on Key Trends, Growth and Opportunities to 2027
Market
Synopsis
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.
Pricing
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.
SEGMENTATION
By
Type
- Ceramic Fiber: The segment
accounted for the largest share in the global market and is projected to
witness moderate growth during the forecast period. The high demand for
PU/PIR insulation is attributed to low thermal conductivity, fire
resistance, moisture resistance, and excellent workability. PU and PIR are
widely used for insulating cold storage buildings, pipelines, storage
tanks, and valves in various industries. Furthermore, its high vermin
resistance increases its applications in the food & beverage and
medical industries.
- Insulation Bricks: The insulation bricks
segment is expected to witness moderate growth during the forecast period.
The growth of the segment is driven by increasing demand from the energy
& power and metallurgy industries.
- Others: The other segment includes
perlite, fiberglass, aerogel, and elastomer foams. This segment is
expected to witness the fastest growth during the forecast period, owing
to the high demand for aerogel in pipeline insulation.
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.
REGIONAL ANALYSIS
- North America: North
America led by US is one of the prominent markets for thermal ceramics in
2019. The stringent standards and regulations and the growing construction
industry and increasing automobile production in the region is expected to
augment the market growth.
- Asia-Pacific: Asia-Pacific
dominated the global thermal ceramics market in 2019 and is expected to
register the fastest growth during the forecast period. The high growth of
the market in the region can be attributed to the high economic growth,
rapid industrialization, rapid urbanization, and the growing construction
industry.
- Europe: Europe accounted
for a significant share in the thermal ceramics market in 2019 however it
is expected to witness moderate growth during the forecast period. The
regional market growth is driven by the growth of the chemical & petrochemical
and power generation industries in countries such as Germany, Russia,
France, Poland, and others
- Latin America: The Latin
America market is expected to witness healthy growth during the forecast
period owing to the growing automotive industry and positive manufacturing
industry outlook.
- Middle East & Africa: The economic
diversification towards construction & manufacturing sectors is
expected to drive the market in Middle East & Africa.
Request For Sample Report
Here @
https://www.marketresearchfuture.com/sample_request/9514
About Market Research Future:
At Market Research Future (MRFR), we
enable our customers to unravel the complexity of various industries through
our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), &
Consulting Services.
MRFR team have supreme objective to
provide the optimum quality market research and intelligence services to our
clients. Our market research studies by products, services, technologies,
applications, end users, and market players for global, regional, and country
level market segments, enable our clients to see more, know more, and do more,
which help to answer all their most important questions.
In order to stay updated with
technology and work process of the industry, MRFR often plans & conducts
meet with the industry experts and industrial visits for its research analyst
members.
Contact:
Market Research Future
Phone: +16468459312
Comments
Post a Comment