COVID 19 pandemic mostly affected the economy by the financial impact on the overall market in developing and emerging countries. Due to lockdown all production and developments were halted, hence the investors are scared to invest in new projects. Most of the companies were shut down their manufacturing plants due to the COVID pandemic which the whole market was stopped directly, which may hamper the fireproof ceramic market growth.
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Fireproof Ceramics Market Segment Analysis By Product Type
The blanket product type segment held a significant share in the fireproof ceramics market in 2020. Blanket ceramic is perfect for situations with direct exposure to flames. Blanket ceramic fibers mainly consist of silica and alumina, which offer high thermal conductivity. Ceramic fiber blankets are fire-resistant insulation materials, with various properties like heat separation and thermal insulation. As they are stable at high temperatures, these are used as insulation in power generation applications and the petrochemical industry. This factor is expected to growth of the fireproof ceramic market.
Fireproof Ceramics Market Segment Analysis By Application
The iron & steel segment dominated the fireproof ceramics market in 2020 and is growing at a CAGR of 12.2% during 2021-2026. Fireproof ceramics manufactured by refractory clay provide refractory engineered solutions and helps to increase productivity in the iron & steel industries. During installation, manpower is less required as these materials are lightweight and flexible. Refractories are used as linings for metal, melting furnaces, transport, and pipes that carry away hot gases. Apart from this, fireproof refractory clay is mainly employed to build kilns and vessels for material processing like melting and high-temperature chemical reactions. Fireproof ceramic is designed to protect the structural steel which supports high risk or valuable equipment; hence the demand for fireproof ceramics is rapidly growing.
Fireproof Ceramics Market Segment Analysis By Geography
Asia Pacific dominated the global fireproof ceramic market in 2020 by more than 32%, due to the increasing consumption of fireproof ceramics in developing countries such as Indian and China. A fireproof ceramic is used as a thin layer on steel & iron bars that allows it to resist temperatures above 9500C without losing its strength. As well as fireproof ceramic offers thermal protection to steel structures in the building industry. Thus, the increasing production of steel is estimated to propel the market scenario. According to the World Steel Association, China is the worlds biggest steel-producing country, which accounted for 53.3% of world steel production in 2019. Hence the growing steel demand is expected to enhance the market growth of fireproof ceramic in this region. According to the World Steel Association, Ministry of Steel, India was the second-largest producer of crude steel with 111.2 million tonnes in 2019. The steel industry and its associated mining and metallurgy sectors have seen major investments and developments in the recent past. According Department for Promotion of Industry and Internal Trade (DPI), the Indian metallurgical industries attracted Foreign Direct Investment (FDI) to the tune of US$ 14.22 billion in the period April 2000-June 2020. Hence, rising government initiatives encouraging infrastructure developments are expected to aid the growth of the fireproof ceramics market.
Fireproof Ceramics Market Drivers
Growing Demand for Multilayer Ceramic Capacitor
Fireproof ceramic materials are producing multilayer ceramic capacitors, which are highly required in the automotive and electronics sector. Multilayer ceramic capacitors are used in electric vehicles because these are functioning at high temperatures, voltage, and power without sacrificing reliability and availability. Multilayer ceramic capacitor is converting direct current to alternating current during acceleration and alternating current to direct current during braking. Hence, the increasing automotive and electronic sector is estimated to grow the demand for multilayer ceramic capacitors which is estimated to grow the demand for these refractory clay ceramic fibers. According to the International Organization of Motor Vehicles Manufacturers (OICA), global vehicle production increased by 21.08 million in January-March 2021 as compared to 18.03 million in January-March 2020. Additionally, according to the India Brand Equity Foundation (IBEF), the television industry in India is expected to reach US$ 17.56 billion by 2022. Hence, the growing consumption of multilayer ceramic capacitors in various end-use industries is expected to grow the market demand for fireproof ceramics.
Growing Consumption From Various End-Use Industry
Fireproof ceramic is used by various end-users due to its low thermal conductivity, high tensile strength, and excellent abrasion resistance. Fireproof ceramics high-temperature textile products are used in applications such as the insulating lining of metallurgical ovens and furnaces, petrochemical heaters, and ceramic kilns. These ceramic fibers are high-temperature refractory clay which is used as a primary lining and backup linings in critical applications for petrochemical. Fireproof ceramic fiber offers lightweight, low thermal conductivity & heat storage, high-temperature stability, excellent handling strength & fire protection, thermal shock resistance, and corrosion resistance which are highly preferred in end-use sectors. Ceramic fiber is a very useful and versatile substance used for containing or controlling high temperatures which makes them ideal material for different manufacturing companies. Hence such factors are estimated to grow the demand for fireproof ceramics.
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Fireproof Ceramics Market Challenges
High Cost of Maintenance
Fireproof ceramics are used in the production of fireproof ceramics walls, floor tiles, multilayer ceramic capacitors, and medical-grade ceramics. These materials are providing high thermal conductivity and protection from high temperatures. Due to these properties, fireproof ceramics are widely used in various end-users such as Iran & steel, ceramic & steel, and petrochemical. But these fired clay are very sensitive products. At the time of production, it can be easily broken, and also replacement of this material is too critical in the event of any damages. Hence, due to high cost of maintenance during the production of ceramics may hamper the market growth of fireproof ceramic.
Fireproof Ceramics Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Fireproof Ceramics market.
Asia-Pacific dominates the fireproof ceramics market owing to increasing developments in the infrastructure sector with safety awareness and renovation activities.
Increasing consumption of multilayer ceramic capacitors because they are used in various circuits for noise removal and smoothing of power supply voltages, which is likely to aid the growth of the fireproof ceramics market.
Ceramic fibers are used as insulation for kiln doors and lids, boilers, nuclear insulation, and high-temperature pipe insulations. It promotes productivity in the industrial sector and is expected to grow the market size.
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