Thermal Ceramics Market To Exhibit Significant Incremental Dollar Opportunity During Forecast Period 2022 – 2031 : Fact.MR

According to recent findings published by consulting firm Fact.MR, the global thermal ceramics market is expected to exceed US$ 6 billion by 2031, expanding at a CAGR of around 7%. According to Fact.MR, demand for thermal ceramics is largely supported by widespread adoption in the manufacturing industry, as well as an increased push for renewable energy generation across major economies. The landscape expanded significantly until 2020, reaching nearly $4 billion. As the COVID-19 pandemic took centre stage, contractions were felt across the global manufacturing landscape, despite mandatory lockdowns to prevent infection spread. As a result, sales of thermal ceramics fell precipitously in the first half of 2020.

However, since the fourth quarter of 2020, production levels have experienced a resurgence as flattening infection curves encouraged major economies to resume on-premise manufacturing activities, thereby sustaining market growth. Major uptake is also expected in the automotive sector, as EV popularity grows in response to the growing need for cleaner fuels. The global EV market is expected to reach nearly 50 million unit sales by 2030, opening up lucrative growth opportunities for market participants.

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Key Market Segments Covered
  • End Use

    • Thermal Ceramics for Mining & Metal Processing
    • Thermal Ceramics for Chemicals & Petrochemicals
    • Thermal Ceramics for Manufacturing
    • Thermal Ceramics for Other End Uses
  • Type

    • Thermal Ceramic Fibers
    • Thermal Ceramic Insulation Bricks
Key Takeaways from Market Study
  • By end use, thermal ceramics for the manufacturing sector to account for over 50% of total sales
  • By material, thermal ceramic fibers to top US$ 3 Bn by 2031, expanding at over 7% CAGR
  • Sales of thermal ceramic insulation bricks to expand at above 6% CAGR until 2031
  • Expanding EV batteries market pushing U.S. thermal ceramic sales, surpassing US$ 1 Bn in 2020
  • China likely to register a staggering 11% CAGR in the global thermal ceramics landscape until 2031
  • Japan and Canada likely to be noteworthy markets, expanding at above 10% CAGRs, respectively

Competitive Landscape

BNZ Materials Inc., Ibiden Co., and others are well-known thermal ceramics manufacturers. Isolite Insulating Products Co., Ltd. Luyang Energy-Saving Materials Co., Ltd. Ltd., Morgan Thermal Ceramics, Mitsubishi Chemical Corporation, Pyrotek Inc., and Unifrax LLC. These companies are primarily focused on introducing new product lines for a variety of end-use industries, as well as collaborating and acquiring other companies.

  • Unifrax LLC has held navy approvals for its fire rated divisions in Germany and the United Kingdom since August 2020. This includes its lightweight FyreWrap® LT marine blanket, which offers structural insulation to vessels.
  • In a similar vein, Ibiden Co. Ltd provides a line of high temperature insulating wool made from ceramic fibre that is lightweight and flexible as a heat insulator and heat-resistant material. Furthermore, they are non-carcinogenic and environmentally friendly.

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