Thermal Ceramics Market Ascends at a Healthy CAGR of 5.0%

Introduction

Thermal ceramics possess thermal shock resistance, thermal insulation, a high tolerance for high temperatures, and thermal expansion. Thermal ceramics, also referred to as ultra-high temperature ceramics (UHTCs) or ultra-high temperature refractory ceramics, maintain their strength at temperatures exceeding 2,000 degrees Celsius. Thermal ceramics are characterized by their low thermal conductivity. Installation is quick and easy, cost-effective, and easy to maintain. Thermal ceramics can be utilized in high-temperature applications due to their chemical stability. Their sound absorption and corrosion resistance are unparalleled.

Moreover, resistance to the vast majority of alkaline and acidic substances confers numerous benefits. Thermal ceramics are utilized for hot face lining on heat treatment surfaces in the steel industry. Moreover, they serve as supplementary furnace insulation. Similarly, thermal ceramics are used to lining melting furnaces for non-ferrous applications.

Thermal ceramics are used in boilers and heating centers, reactors and crackers, burner insulation, and other applications in the oil and gas industry. The expansion of solar energy generation has increased the demand for thermal ceramics in the energy industry. In conjunction with photovoltaics, they are utilized in solar panels for efficient energy production. This application of thermal ceramics in the power generation industry serves as a market expansion driver. In addition, an increase in building and construction activities in the Asia-Pacific region stimulates the demand for thermal ceramics, thereby driving the market. Despite this, the carcinogenic nature of ceramics is a market restraint for thermal ceramics.

Market Dynamics

Demand From Solar Energy Industry and The Increased Construction Activities in Asia Pacific Region to Drive the Global Thermal Ceramics Market

Thermoelectric ceramics can be used to generate solar energy in conjunction with photovoltaic cells. This synergistic approach produces more efficient electrical power than conventional solar panels. The thermal insulation that thermal ceramics provide helps to prevent heat loss. Using thermal ceramics in solar panels increases the efficiency of solar energy production. Consequently, the application of thermal ceramics and the benefits they provide in solar power generation increase product demand, which drives the expansion of the market for thermal ceramics.

In the Asia-Pacific region, economies at various stages of development are present. The economies of China and India significantly impact the regional economy as a whole. Both nations have significant populations and expanding economies. The countries' governments in the region are increasing their expenditures on infrastructure development-related activities. The use of thermal ceramics in the construction of infrastructure, such as dams, buildings, rails, bridges, tunnels, water supply, sewers, and electrical grids, among other things, contributes to the expansion of the market for thermal ceramics.

Manufacture and Production of Low Bio-Persistent Material to Create Global Thermal Ceramics Market Opportunities

Concerning the use of persistent organic chemicals in the production of thermal ceramics, there are significant grounds for concern. Persistent organic pollutants negatively impact human health and the environment. They can be spread via wind and water, remain in the background for extended periods, accumulate, and be passed from one species to the next as they ascend the food chain. In addition, companies are developing low bio-persistent materials that can be utilized in ceramic fibers. For example, Morgan Advanced Materials developed the low bio-persistent fiber Superwool. It has been cleared of all charges by the International Agency for Research on Cancer and is considered free of cancer-causing potential. The development of such materials presents significant growth opportunities for the industry.

Regional Insights

North America will command the market with the largest share while growing at a CAGR of 5.15% during the forecast period. The region's dominance is due to the United States' robust growth in the refractory industry, which is facilitated by the presence of large corporations. Canada accounted for roughly 60% of the region's revenue, followed by the United States. The aerospace industry extensively uses thermal ceramics due to their high resistance to high temperatures. This enables them to meet the stringent performance, temperature, and weight requirements of spacecraft. Together with the region's governments' increasing investments in space exploration, this is one of the primary factors driving the expansion of the thermal ceramics market in North America. Moreover, there has been an increase in the use of hypersonic missiles and weapons due to rising geopolitical tensions and investments in the defense sector, both of which positively impact the North American market.

Asia Pacific will hold a share of USD 1,854 million while growing at a CAGR of 5.31%. The high growth and demand for thermal ceramics in the Asia-Pacific region can be attributed to the increasing investment in the region's various infrastructure-related activities. These activities stimulate the regional thermal ceramics market. Furthermore, there has been an expansion in the number of activities in the region's industrial sector, particularly in India, Vietnam, Indonesia, and Thailand. Asia-Pacific nations, including China and India, are also at the forefront of the ongoing industrial revolution. The expansion of the region's chemical and petrochemical end-use industry is primarily driven by the increasing demand for chemicals used in various end-use applications. As a result of countries such as India, Indonesia, and Thailand investing in new projects to reduce the number of imported chemicals and satisfy domestic demand, the chemical industry in the Asia-Pacific region will advance.

Key Highlights

• The global thermal ceramics market had a revenue share of USD 4,186 million in 2021, which is envisioned to grow at a CAGR of 5.0% and reach USD 6,494 million during the forecast period. 
• Based on type, the ceramics fibers segment is expected to hold the largest market share while advancing at a CAGR of 5.1% during the forecast period.
• Based on the end-use industry, the mining & metal processing segment is expected to hold the largest share during the forecast period while growing at a CAGR of 5.2%.
• Based on regional analysis, North America will command the market with the largest share while growing at a CAGR of 5.15% throughout the forecast period.

Competitive Players

1. CeramTec
2. Dyson Technical Ceramics
3. FibreCast Inc.
4. Ibiden Co., Ltd.
5. Isolite Insulating Products Co., Ltd.
6. Mitsubishi Chemical Holdings
7. Morgan Advanced Materials
8. RHI Magnesita
9. 3M Company
10. Unifrax

Recent Developments

• In 2022- CeramTec presented AIN (aluminum nitride) HP, a new high-performance substrate with excellent thermal conductivity and ideal for power converters. 

Segmentation

1. By Type
   1. Ceramic Fibers
   2. Insulation Bricks
2. By End-Use Industry
   1. Mining & Metal Processing
   2. Chemical & Petrochemical
   3. Construction
   4. Manufacturing
   5. Power Generation
   6. Aerospace
   7. Others