Thermal Ceramics Market

Thermal Ceramics Market Outlook (2023 to 2033)

The global thermal ceramics market size stands at a value of US$ 4.6 billion in 2023. Global demand for thermal ceramics is forecasted to increase at a CAGR of 5.1% and reach a market value of US$ 7.6 billion by the end of 2033.

• Worldwide sales of thermal ceramic fibers are predicted to reach US$ 5.5 billion by 2033-end, increasing at a CAGR of 5.3% from 2023 to 2033.
• The Japanese market is forecasted to expand at a CAGR of 4.1% and reach a value of US$ 619.9 million by the end of 2033.

Increasing requirements for energy saving are predicted to serve as one of the pivotal factors in the thermal ceramics industry growth. Thermal ceramics are substances, which are used to maintain insulated temperatures and thermal temperatures in various refractories. They are used to maintain high levels of temperature without producing or combusting any toxic exhumes.

A significant increase in the demand for non-metallic minerals is predicted to contribute to the sales of thermal ceramics owing to their chemical stability. Moreover, growing infrastructural development at a rapid pace in emerging economies, including Asia Pacific and others is also playing a noteworthy role to open up lucrative opportunities for industry players.

In recent years, there is an increase in the demand for thermal ceramics in industrial heaters and furnaces as high-temperature insulation materials for lining purposes. Flourishing demand for mining and metal processing, rising requirements for power generation, and boosting demand for boilers and furnaces from different end-use industries, including glass, cement, and metal are projected to stimulate growth in the target market in the coming years.

Increasing need to recycle refractories, growing R&D activities about renewable energy, and growing development of low bio-persistent materials are further anticipated to create new opportunities for suppliers of thermal ceramics. However, the increasing environmental impacts of refractories are predicted to restrain the adoption of thermal ceramics.

There are some thermal ceramics, which are carcinogenic in nature and are responsible to develop lung tumors with inhalation. Therefore, these health issues are estimated to challenge market demand in the forecasted period.

Report Attributes	Details
Thermal Ceramics Market Size (2023)	US$ 4.6 Billion
Forecasted Market Value (2033)	US$ 7.6 Billion
Global Market Growth Rate (2023 to 2033)	5.1% CAGR
United States Market Value (2033)	US$ 1.9 billion
Market Share of Manufacturing Sector (2033)	50%
Key Companies Profiled	Mitsubishi Chemical Corporation; BNZ Materials Inc.; Ibiden Co. Ltd.; Morgan Thermal Ceramics; Luyang Energy-Saving Materials Co. Ltd.; Promat GmbH; Isolite Insulating Products Co. Ltd.; Rath AG; Pyrotek Inc.; RHI Magnesita N.V.; Unifrax LLC

Why is Demand for Thermal Ceramics Increasing Across the World?

“Growing Use of Thermal Ceramics in Automotive Sector”

Thermal ceramics market growth is aided by the growing demand in the automotive sector. Thermal ceramics are generally used in the production of automobiles in numerous components, including substrates for low and high-voltage circuit carriers and passenger cells, which is further leading to their increased sales.

Growing popularity of e-vehicles is fueling demand for thermal management of charging units, electric motors, EV batteries, and various others, which is bolstering the deployment of thermal ceramics and thus is predicted to augment market opportunities. The extensive utilization of thermal ceramics to provide insights into fuel efficiency and motor management along with their use as sensors in electronic components is also contributing to their increased demand.

In recent years, there is a noteworthy increase in the demand for light metal construction in the automotive sector, which is boosting demand for thermal ceramics. They are integrated with LED light systems or halogen, which is also expected to boost their demand globally.

“Wide Use of Thermal Ceramics in Photovoltaic Cells”

Thermal ceramics have the feature to store thermal energy while ensuring cost-effectiveness. This feature is predicted to increase their deployment in photovoltaic cells and solar systems. An increasing number of research activities to determine the effectiveness of numerous storage units to enhance the use of solar energy is also anticipated to drive market growth opportunities.

The development of numerous demonstration plants and thermal modules is also stimulating the demand for thermal ceramics. Moreover, thermal ceramics enhance the reliability of voltaic cells because of which their deployment is increasing globally. The rising electricity demand is also boosting sales of thermal ceramics. There are multiple properties of thermal ceramics, including high mechanical strength and physical stability, which make them a more ideal solution for outdoor applications.

Which Factors are Anticipated to Negatively Impact Sales of Thermal Ceramics?

“Growing Risk of Developing Lung Tumors on Inhalation of Thermal Ceramics”

Despite the popularity of thermal ceramics, there are certain factors, which are estimated to limit their demand. There are a few thermal ceramic fibers, which are carcinogenic. This fact is anticipated to limit the adoption of thermal ceramics. Certain studies have indicated the contribution of thermal ceramics in the development of lung tumors upon inhalation.

Global market companies need to comply with stringent governmental legislation, which can sometimes delay the product launch in the target industry. Therefore, these concerns are forecasted to hinder expansion opportunities in the short run.

Which Strategies are Incorporated by New Market Entrants to Gain Profits?

“Development of Environmental-friendly Thermal Ceramics”

New market players are putting efforts to enter the global market by investing a significant amount in various R&D activities to produce more environment-friendly products.

They are expected to produce thermal ceramics that come with minimal possible or no carcinogenic and therefore result in causing minimal harm to an individual’s health. Thus, these newly developed components are predicted to help new entrants to generate prospects in the coming decade.

Country-wise Insights

Which Asia Pacific Countries are Prominent Markets for Thermal Ceramics?

“Flourishing Steel Industry Stimulating Demand for Thermal Ceramics in Japan”

The increasing production of steel in Japan is estimated to put a direct impact on the demand for thermal ceramics there. The market in Japan is expected to reach a value of US$ 619.9 million by 2033-end and progress at a CAGR of 4.1% during the forecast period (2023 to 2033). Rapid infrastructural development and increasing consumption of renewable energy are some significant factors, which are contributing to market growth.

Growing demand for industry products such as high-temperature insulation materials in furnaces and heaters for linings along with increased requirements for power generation is also propelling sales of thermal ceramics in Japan.

“Increasing Production and Sales of Automotive in South Korea Boosting Demand for Thermal Ceramics”

Demand for thermal ceramics in South Korea is estimated to reach a valuation of US$ 528.06 million by the end of 2033 while progressing at a CAGR of 3.7% from 2023 to 2033.

The absolute dollar growth of the South Korean market is expected to be US$ 160.4 million. The production, as well as sale of vehicles, is increasing at a noteworthy rate in South Korea. Thermal ceramics play a significant role in the automotive industry, which is further predicted to bolster their demand in the coming decade.

Is the United States an Opportunistic Market for Suppliers of Thermal Ceramics?

“Increased Demand for Thermal Conductivity Mitigation Services for Automotive Batteries”

The United States market is anticipated to reach a value of US$ 1.9 billion by the end of 2033. Demand for thermal ceramics is predicted to flourish at a CAGR of 5.4% during the assessment period from 2023 to 2033 in the United States. Among other end-use industries, the demand for thermal ceramics is anticipated to remain high in the EV sector due to their rising demand for thermal conductivity mitigation for automobile batteries.

Rising traction for electric cars in the United States is predicted to put a positive impact on the target market growth. Some prominent manufacturers, including Morgan Thermal Ceramics, and others are intensifying their presence in the market.

They offer a wide variety of components and materials and incorporate advanced fiber techniques for use in lithium-ion battery packs of EVs. The absolute dollar growth of the United States market is US$ 794.3 million during the forecast period.

Why is the United Kingdom Emerging as an Important Hub for Thermal Ceramic Suppliers?

“Increasing Inclination to Consume Renewable Energy Bolstering Demand for Thermal Ceramics”

The valuation of the United Kingdom market for thermal ceramics is forecasted to reach US$ 201.7 million by the end of 2033. Sales of thermal ceramics in the market are estimated to expand at a CAGR of 4.4% through 2033. The growing consumption of renewable energy in the United Kingdom is expected to drive lucrative opportunities for industry players there.

Category-wise Insights

Why is There High Preference for Thermal Ceramic Fibers?

“Substantial Use of Thermal Ceramic Fibers in Sealing and Filtration Applications”

Demand for thermal ceramic fibers is forecasted to progress at a CAGR of 5.3% through 2033 while reaching a valuation of US$ 5.5 billion by the end of 2033. Fibers, which are manufactured from silica and alumina are used widely due to low thermal conductivity. It can further result in less heat dissipation from furnaces. Moreover, it is used at a significant rate in sealing and filtration applications in chemical, steel, aluminum, oil & gas, transportation, glass, and other industries.

Insights about the thermal ceramic fibers landscape mention that sales of thermal ceramic fibers are estimated to remain unchanging owing to rising demand for robust and lightweight high-temperature stability and heat dissipation reduction ceramics.

How is the Manufacturing Sector Emerging as a Primary End User of Thermal Ceramics?

“Growing Uptake of Boilers, Furnaces, etc. Stimulating Sales of Thermal Ceramics”

According to Fact.MR, a provider of market research and competitive intelligence, the sales in the manufacturing sector are predicted to reach a valuation of US$ 4.1 billion by 2033-end and expand at a CAGR of 4.9% from 2023 to 2033. The sector is estimated to account for 50% of the global thermal ceramics market share by the end of 2033.

Demand for thermal ceramics in the manufacturing sector is predicted to increase by extensive use of boilers, furnaces, and other equipment for thermal processing. The sales of thermal ceramics are estimated to increase with the increasing production procedures for thermal power generation and steel production and metal smelting in the coming decade.

Key Market Players

Prominent suppliers of thermal ceramics are concentrating to offer safer and user-friendly components to increase brand loyalty and attract a larger base of trustworthy consumers. Leading players are also focusing to incorporate advanced manufacturing technologies to maintain product standards and manage their supply chain management systems.

Key manufacturers of thermal ceramics rely on collaboration, mergers and acquisitions, product launches, etc. to expand their footprints around the world.

For instance :

• Luyang Energy-Saving Materials Co Ltd., in June 2021, shipped 36 containers to Vietnam containing, luyangwool ceramic fiber blanket products. As refractory materials, these ceramic fiber solutions are deployed in various industries due to their excellent fire resistance and heat preservation features.
• Morgan Thermal Ceramics, in January 2020, announced its operation in the automotive industry with the introduction of systems for passive and active thermal management for the temperature maintenance of vehicle battery packs to the optimum level.

Key players in the thermal ceramics market are Mitsubishi Chemical Corporation, Ibiden Co. Ltd., Morgan Thermal Ceramics, Luyang Energy-Saving Materials Co. Ltd., Promat GmbH, Rath AG, Isolite Insulating Products Co. Ltd., Pyrotek Inc., RHI Magnesita N.V., and Unifrax LLC.

Segmentation of Thermal Ceramics Industry Research

• By Type :

  • Thermal Ceramic Fibers
  • Insulation Bricks

• By End Use :

  • Mining & Metal Processing
  • Chemicals & Petrochemicals
  • Manufacturing
  • Others

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa