Rising demand for ceramic-foam based products for acoustic insulation and increasing application of ceramic foams in metal casting industry and for absorption of environmental pollutants are key factors expected to drive market growth
NEW YORK, Oct. 13, 2021 /PRNewswire/ -- Reports and Data has published its latest report titled "Ceramic Foams Market By Type (Silicon Carbide, Aluminum Oxide, Zirconium Oxide, Others), By Application (Molten Metal Filtration, Thermal & Acoustic Insulation, Automotive exhaust Filters), By End-Use (Foundry, Chemical Synthesis & Pollution Control, Building & Construction, Automotive, Others), and By Region Forecast to 2028."
According to Reports and Data, the global ceramic foams market size was USD 407.33 Million in 2020 and is expected to reach USD 620.35 million in 2028 and register a revenue CAGR of 5.3% during the forecast period, 2021-2028.
Ceramic foams are tough and hardened foams made from ceramics comprise air pockets or gas trapped in pores within the material. These foams constitute a specific class of materials that have high level of porosity and may consist of various ceramic materials such as aluminum oxide and others. Ceramic foams are widely used for thermal and acoustic insulation, for efficient absorption of pollutants in the environment, as filters in metal casting industry, and as substrates for catalysts. In addition, these foams are used as structural materials for low stress applications owing to high strength and hardness and in consumer electronics due to various advantages. Owing to the high porosity in ceramic foams, the materials are extensively used in the filtering of molten metals and hot gases, in heat exchangers and in thermal protection systems.
Ceramic foams are composed of solid struts or walls surrounded by empty cells and are produced by incorporation of air into suspension or liquid media, which is then allowed to set to ensure the structure of air bubbles created through this process is maintained. Ceramic foams are crucial in various end-use industries with its application ranging from diesel particulate filters and high-temperature thermal insulators to biomedical applications. Unique properties of ceramic foams such as low density, low thermal conductivity, thermal-shock resistance, and robust dielectric properties have boosted ceramic foam applications in high temperature and corrosive environments. Extensive research and development activities have been conducted to explore more potential applications of ceramic foams and have led to development of novel manufacturing processes to improve the performance of the material. This has further boosted its application in industrial sewage treatment, automobile exhaust equipment, and in aviation industry.
However, disadvantages such as complex manufacturing and production processes and high costs are some key factors expected to restrain market growth to a certain extent over the forecast period. Advancements in manufacturing processes of ceramic foams and introduction of new production processes are expected to create lucrative opportunities for key players in the market.
COVID-19 Impact Analysis
Social distancing and restrictions severely disrupted businesses and operations
Lockdowns caused disruptions in transportation and logistics
Impacted manufacturing activities and mining operations globally
Took a toll on economy of various countries
Caused sudden and drastic downturn in economic activity
Disrupted agriculture, fisheries, dairy, and other sectors
Caused loss of employment and financial crisis
Supply impacts were further compounded owing to reduced disposable income
Emergence of variants continue to cause concerns and impact normal routines
Silicon Carbide to Account for a Significantly Large Revenue Share:
Silicon carbide segment is expected to account for largest revenue share over the forecast period, attributable to increasing demand for silicon carbide due to its high thermal conductivity and good mechanical properties. Silicon carbide foams reinforced with carbon fibers having silicon or aluminum-silicon alloys are excellent materials for brake and clutch systems and rising demand for silicon carbide from the automotive sector is another key factor contributing to revenue growth of this segment.
Increasing use of Ceramic Foams in Metal Casting Industry:
Ceramic foams are widely used as filters in metal casting industry and for filtration of molten metals such as iron, aluminium, and steel, and this is a key factor expected to continue to drive revenue growth of the molten metal filtration segment.
North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share over the forecast period, attributable to increasing demand for thermal and acoustic insulation materials from construction and building industry, growing demand for consumer vehicles, technological advancements in manufacturing processes, and presence of key companies in the region.
Asia Pacific to Register Robust Revenue CAGR:
Asia Pacific market revenue is expected to expand at a robust revenue CAGR over the forecast period owing to rapid industrialization, development of building and construction sector, advancements in production processes of ceramic foams, increasing production of metals, and growing demand for thermally insulated and soundproof residential and commercial buildings.
Some points on how the report benefits stakeholders:
The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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