The global Thermal Ceramics market is forecast to reach USD 7,274.3 Million by 2028, according to a new report by Reports and Data. They are used as insulation materials, due to their ability to withstand high temperatures, and are used for coating kilns and furnaces. Thermal ceramic products often exist in the form of blankets, boards, felts, loose fibers, vacuum molded or molded forms, paper, and textiles. Their lightness, resistance to thermal shock, and their solidity make them useful in many industries. Modern technologies make it possible to produce highly porous foam ceramics, intended for use in blast furnaces as insulation and are energy-efficient. These products substantially reduce energy consumption and emissions in a variety of high-temperature processing applications.
The report offers other vital information related to industry annual sales, regional market outlook, product portfolios, application ranges, shifting consumer tastes & preferences, changing production & consumption patterns, volatile demand & supply graphs, and key industry statistics. The report expounds on the competitive scenario of the Thermal Ceramics market and evaluates the current position of each market player using analytical tools including SWOT analysis, Porter’s Five Forces analysis, and Capacity Utilization analysis.
The main obstacle identified in the market that can threaten market growth is the environmental concern linked to refractories. The growing need for recycling refractories should create growth opportunities in the market for industry players.
The COVID-19 impact: The COVID-19 pandemic is expected to have a massive downward impact on the global Thermal Ceramics market in 2020, the reason being the halt in the mining and metal processing activities, which were responsible for the significant demand in market share terms in 2019. After the pandemic, however, trends discussed in the study of the global market do hold ground.
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Also, supply chain disruptions and production shutdowns have resulted in a downgraded outlook for the manufacturing industry, which is a significant market for thermal ceramics application, which will have short-term impacts on market sales that could have lasting effects. While the industry expects things to return to near normal state well before the end of 2020, negative demand shock caused by the crisis is likely to last.
Key participants include:
3M, Ibiden, Mitsubishi Chemical Corporation, Yeso Insulating Products, Morgan Advanced Materials, Isolite Insulating Products, Luyang Energy-Saving Materials, Unifrax, Bnz Materials, and RHI Magnesita N.V., among others.
Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented into the global Thermal Ceramics market on the basis of Type, Temperature, End-Use Industry, and Region:
Type Outlook (Revenue, USD Billion; 2018-2028)
Temperature Outlook (Revenue, USD Billion; 2018-2028)
End-Use Industry Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018-2028)
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