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Key Emerging Trends in the Thermal Ceramics Market
The thermal ceramics business, which was estimated to be worth 3.8 billion US dollars in 2019, is projected to reach 5.5 billion US dollars by 2027, exhibiting a consistent compound annual growth rate (CAGR) of 4.7% over the duration of the anticipated forecast. A crucial factor that is driving this increase is the increasing demand from large-scale applications. These applications include processing heaters, ceramic kilns, filtration processes, and high-temperature-resistant clothing. The power generation industry, particularly solar power generating sectors, is adopting thermal ceramics into their infrastructure and a variety of applications in a significant way. There are a number of key qualities that are driving the growth of the thermal ceramics market. These characteristics include thermal shock resistance, insulating properties, tolerance, and expansion. A number of different industries, including mining and metals, are experiencing a surge in demand on a global scale. A significant portion of the increase in demand for thermal ceramics can be attributed to the petrochemical and chemical industries, which deal with essential compounds such as cosmetics and cleaning supplies. Among the beneficial characteristics of these materials are their ease of installation, the absence of asbestos in their composition (which eliminates the risk of cancer), the effectiveness of their production processes, and the absence of curing needs that demand a significant amount of time. The production of fire doors, furnace insulation, heat-resistant containers, and heating pipes all call for the utilization of thermal ceramics as an essential component. Ceramics, glass, electrolytics, and power generation are some of the industries that are important consumers of thermal ceramics. Other industries that use thermal ceramics include hydroelectric power generating. A second factor that has contributed to the acceleration of the growth of the thermal ceramics sector is the demand for metal processing for a variety of machinery, equipment production, and mining activities. The metal processing facilities and mining operations make substantial use of these commodities during their operations. Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | It used in various industrial processes in chemical & petrochemicals, cement manufacturing, power generation, and metallurgy. |
Thermal Ceramics Market Highlights:
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