LONDON--(BUSINESS WIRE)--Technavio analysts have predicted the global thermal ceramics market to grow at a CAGR of over 6% during the forecast period, according to their latest market research report.
The increasing demand for lightweight and high-performance materials is one of the major trends being witnessed in the global thermal ceramics market 2018-2022. Demand has gone up for lightweight and high-performance materials from various end-user industries. These advanced materials can be used in various industrial applications to reap benefits from their energy-saving and wear-resistance properties. They are preferred in high-friction applications as thermally conductive materials. These materials are widely used in the aerospace and defense, and automobile industries. Among the various types of high-performance materials, thermal ceramics are the most preferred given their tendency to be temperature and thermal shock resistant while also being non-conductive.
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According to Technavio analysts, one of the key factors contributing to the growth of the global thermal ceramics market is the enforcement of stringent safety guidelines:
Global thermal ceramics market: Enforcement of stringent safety guidelines
Regulatory agencies are enforcing stringent rules and regulations regarding safety in the work environment. These rules also mandate thermal insulation, chemical safety, and electrical safety in risky and hazardous working environments. A similar trend is being observed in emerging countries such as India and Brazil where the incidence of workplace accidents is high due to the lack of adequate safety measures. Workplace accidents result in costly compensation, loss of productive hours, and high medical costs.
According to a senior analyst at Technavio for research on specialty chemicals, “Organizations are increasingly adopting appropriate insulation materials in machinery and other equipment. The global count of the industrial workforce is on a continuous rise, with countries such as India, China, Indonesia, and Brazil leading the trend. This will likely increase the need for safety, hence, the high demand for thermal ceramics.”
Global thermal ceramics market: Segmentation analysis
The global thermal ceramics market research report provides market segmentation by product (ceramic fibers and insulation bricks), by end-user (mining and metal processing, petrochemicals, manufacturing, and power generation), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Ceramic fibers held the largest market share in 2017, accounting for nearly 78% of this market. This product segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 40%. This region is expected to dominate the market through 2022, with an increase in its market share by nearly 2%.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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