Global Thermal Ceramics market to accrue revenue worth nearly 4 (USD Billion) in 2019 and record the CAGR of over 8% over the period from 2020 to 2026.
New York, United States - October 29, 2020 /MarketersMedia/ —
As per Zion Market Research, the global thermal ceramics market accrued revenue worth USD 4 billion in 2019 with a CAGR of more than 8% during 2020-2026. The high requirement for thermal ceramics in different end-use sectors, such as mining & metal processing, chemical & petrochemical, and manufacturing, are predicted to power the thermal ceramic market.
Firms such as YESO Insulating Products, Unifrax, Morgan Thermal Ceramics, IBIDEN, RHI Magnesita, Luyang Energy-Saving Materials, Mitsubishi Chemical Corporation, Rath, Isolite Insulating Products, and The 3M Company are active in the global market.
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Ceramic Fibers Section Predicted To Dominate The Global Market In The Coming Years
On the basis of type, the global market for thermal ceramics has been divided into insulation bricks and ceramic fibers. The ceramic fibers section is predicted to dominate the market and is expected to develop at a max rate as compared to the insulation bricks section in the coming years. Ceramic fibers have a remarkably low thermal conductivity that makes them a substance suitable for energy saving. In addition to this, they have low thermal inertia, low density, no preheat requirement, outstanding temperature management within the insulating surface, chemical stability, and are light in weight, flexible, and convenient to set up. These characteristics have resulted in their increasing preference and employment over other insulation goods.
Mining & Metal Processing Is The Biggest End-Use Industry Section Of The Global Market
Mining & metal processing is the biggest end-use industry section of the global market owing to the huge requirement for thermal ceramics in the processing and production of metals. The huge production of metals has led to the high requirement for thermal ceramics in furnaces, kilns, and other applications. Manufacturing is the quickest-developing end-use sector of the global market. This section comprises high development sectors, such as glass, cement, ceramic, refractory, electronics & electrical, and transportation.
Asia Pacific Is The Fastest-Developing And The Biggest Market For The Global Thermal Ceramics Market
Asia Pacific is the fastest-developing and the biggest market for the global thermal ceramics market. The high development of the chemical sector has led to elevated investments in chemical production units in this area. Asia Pacific nations, such as India and China, are also at the vanguard position of the current industrial revolution. The chemical & petrochemical end-use sector is developing in the area due to the rise in requirement for chemicals in different applications. Nations such as Indonesia, India, and Thailand are spending in new projects to drop chemical imports and to fulfill local requirement, which will power the chemical sector in Asia Pacific. The development of this sector powers the requirement in thermal insulation applications for thermal ceramics. These factors, thereby, offer development opportunities to the global market.
The global thermal ceramics market is segmented as follows:
by Temperature Range:
650 to 1,000 ¡æ
1,000 to 1,400 ¡æ
1,400 to 1,600 ¡æ
by End-use Industry:
Mining & Metal Processing
Chemical & Petrochemical
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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