Market Synopsis

The thermal Ceramics Market is expected to surpass the market value of over USD 5.5 billion by the year 2027 while registering a CAGR of 4.7% during the forecast period.

The growth of the 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. Thermal ceramics offer superior thermal insulation, which helps in reducing heat loss, energy-saving, and lowering overall operational costs.

Pricing

The price of thermal ceramics varies according to the type and the density of the material. The average price of 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.

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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.

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.

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