Thermal Ceramics Market Trends

Growth Drivers

• Growing demand in the chemical industry – The expanding demand in the chemical industry as well as the rising investment in this sector and its manufacturing facilities adds to the growth of the thermal ceramics market. There is an increase in thermal insulation, as evidenced by the expansion of the chemical and petrochemical industries as well as the variety of applications.
  
  Thermal ceramics made of alumina, zirconia, aluminum nitride, and other materials can be utilized with acids, alkalis, and solvents. This suggests that enterprises in the chemical sector may improve the efficiency of their manufacturing processes by using high-quality, high-performance ceramic components.
• Increased adoption in industrial settings - Due to the rise in industrial applications, fire safety gear including blankets resistant to high temperatures and ceramic wool for insulation has gained popularity in recent years. Elevated temperatures and aluminum furnaces are used in the growing thermal and power generation industries.
  For instance, from 2017 to 2040, the power generation industry is projected to invest around USD 10.2 trillion in new power generation capacity globally. As a result, the employees who operate these furnaces must be appropriately dressed; these aspects are creating significant growth prospects for the thermal ceramics sector as a whole.
• Rising application in the automotive and aerospace industry - Advanced ceramics are commonly used in engine and exhaust systems, heat protection shields, and other aerospace applications such as feed-through, temperature sensors, electrical connectors, and thermocouple sheaths because they can withstand high temperatures while providing insulation or thermal resistance. Aside from that, thermal ceramics help automobile designers achieve the greatest possible passive fire protection and thermal management. They are also generally robust and can withstand high pressures and temperatures. Ceramic fuel cells generate relatively little pollution while efficiently converting chemical energy to electrical energy. Although they can operate on a range of fuels, a conventional hydrogen-powered ceramic fuel cell offers a clean substitute for fossil fuels. Therefore, this factor is propelling the market growth.

Challenges

• Availability of alternatives such as polyurethane foam or metallic foams - Owing to their superior qualities, polyurethane systems are among the most popular materials used for insulation in buildings as they offer exceptional insulating qualities. It increases the airtightness and waterproofness of building envelopes, and provides architects and designers greater creative freedom when designing buildings, and may hinder the growth of the market.
• Concerns related to the environment may hinder the market growth
• Fluctuating cost of raw materials can impact the overall cost of production