The global thermal ceramics market size was US$ 4.1 billion in 2021. The global thermal ceramic market is forecast to grow to US$ 8.1 billion by 2030, registering a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2022 to 2030.
Thermal Ceramics manufactures high-temperature fiber blankets for passive fire prevention applications. The usage of thermal ceramic products or ceramic wool for insulation has grown in popularity in recent years.
Factors Influencing the Market
Regional Analysis
The largest and fastest-growing market for thermal ceramics is in Asia-Pacific. The chemical industry's rapid expansion has resulted in increasing investment in chemical manufacturing units in this region. The chemical and petrochemical end-use industries are also expanding. All of these factors are contributing to the growth of the regional thermal ceramic market.
COVID-19 Impact Analysis
The metal processing and mining activities were halted in various countries due to the COVID-19 spread. In addition, the automotive and industrial segment also observed significant challenges due to the pandemic. Governments of various countries introduced strict lockdowns to control the virus spread and save the population. As a result, it hampered the growth of the global thermal ceramics market.
The construction and other activities were reduced significantly. In addition, various people suffered from job loss which ultimately hampered the trade of thermal ceramic. The demand for automotive also declined, which slowed down the growth of the global thermal ceramics market during the pandemic period.
Competitors in the Market
Market Segmentation
The global thermal ceramics market segmentation focuses on Type, Temperature Range, End-Use Industry, and Region.
Thermal Ceramics Market, by Type:
Thermal Ceramic Market, by Temperature Range:
Thermal Ceramics Market, by End-use Industry:
On the basis of Region