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The market is projected to experience growth at a CAGR of 4.7% from 2020 to 2027.

PORTLAND, OREGON, UNITED STATES, July 26, 2022 /EINPresswire.com/ -- Allied Market Research recently published a report, titled, “Technical Ceramics Market by Material (Oxide and Non-Oxide), Product (Monolithic Ceramics, Ceramic Coatings, and Ceramic Matrix Composites), and End-use Industry (Electronics & Semiconductor, Automotive, Energy & Power, Industrial, Medical, Military & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026.” As per the report, The global thermal ceramics market was valued at $3.8 billion in 2019, and is anticipated to generate $5.5 billion by 2027.

Thermal ceramics offer thermal insulation, thermal expansion, and thermal shock resistance. These benefits of thermal ceramics make them applicable in various applications in high temperature sealing, acoustical & thermal insulation, investment casting mold wrapping, and others. Thermal ceramics are easy & quick to install, cost-effective, and low maintenance; therefore, they are adopted widely. Such properties act as the driving factor for the thermal ceramics market growth.

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The oxide segment garnered the lion’s share in 2018-

Based on material, the oxide segment accounted for more than three-fifths of the global technical ceramics market revenue in 2018, and is projected to rule the roost during 2019–2026. This is attributed to the high demand for alumina in electronics and electrical, automotive, energy and utility, and other industries. The non-oxide segment, on the other hand, would cite the fastest CAGR of 6.5% during the forecast period. Being an excellent abrasive material, these ceramics are increasingly used in grinding wheels application, which has boosted the segment growth.

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Thermal ceramics reduce the heat loss across different industrial processes, making them more suitable for thermal insulation purposes, which further helps in saving the overall energy consumption and manufacturing cost in industrial applications. These phenomenal characteristics have increased the penetration of thermal ceramics across different applications, including the manufacturing of solar panels.

The thermal ceramics market growth is driven by factors such as rising building & construction industry, especially infrastructural development in the Asia-Pacific region, increased application in solar power generation, and growth potential in non-metallic minerals. However, carcinogenic nature of ceramic fabrics on inhalation acts as a restraint for the thermal ceramics market growth. In addition, the environmental effect of refractories is a major concern and requires several rules & regulations to follow, which further hamper the thermal ceramics market growth. However, recycling practices in refractories and development of low bio-persistent material offer lucrative opportunities for the thermal ceramics industry growth.

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The key players operating in the thermal ceramics market are CeramTec, Dyson Technical Ceramics, FibreCast Inc., Ibiden Co., Ltd., Isolite Insulating Products Co., Ltd., Mitsubishi Chemical Corporation, Morgan Advanced Materials, RHI Magnesita, the 3M Company, and Unifrax. The companies have focused on various strategies, such as new product launches, partnerships, acquisitions, and mergers, for retaining their existing customer base and further increasing their market share.

David Correa Allied Analytics LLP 800-792-5285 email us here Visit us on social media: Facebook Twitter LinkedIn

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