Growing need of energy saving and rapid industrialization in emerging economies are the major growth drivers identified in the thermal ceramics market. Due to the rising environment concerns, the government of various countries is moving towards the sustainable development. Thermal ceramics helps in reducing energy consumption and emission in a variety of industrial applications. Thermal ceramics helps in reducing energy consumption and emission in a variety of industrial applications.
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The main restraint identified in the thermal ceramics market which can pose a threat to the market growth is the environment concern related to refractories. Growing need of refractories recycling is expected to create growth opportunities in the market for the industry players.
On the basis of material, the thermal ceramics market is categorized into alumina ceramics, titanate ceramics, zirconate ceramics, ferric ceramics, ferrite ceramics, silicon carbide, and silicon nitride.
On the basis of type, the global thermal ceramics market is categorized into ceramic fibers and insulating firebricks. Ceramic fibers are further classified into vitreous alumina-silica ceramic fiber, low bio-persistent ceramic fibers, and polycrystalline ceramic fibers.
APAC held the largest share in the thermal ceramics market and also expected to register the fastest growth during the forecast period. This is attributed to the growing industrialization in the region.
Along with that, the region has a strong base in chemical industry which is growing at a fast rate, owing to the increasing demand of chemicals from countries such as India and China for various applications.
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Some of the major players operating in the global thermal ceramics market are Morgan Advanced Materials plc, Luyang Energy-Saving Materials Co.Ltd., 3M Company, RHI Feuerfest GmbH, Ibiden Co. Ltd., Mitsubishi Chemical Corporation, Yeso Insulating Products Co.Ltd., Isolite Insulating Products Co. Ltd., Bnz Materials Inc., and Rath Group.
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