Ceramic Foams Market to experience an impressive growth of 7.2% during 2020-2025
January 30, 2020
Ceramic Foams Market is likely to witness an impressive CAGR of 7.2% during the forecast period. Increasing use of ceramic foams as filters in the metal casting industry and stringent regulations regarding pollution control are the major factors driving the global ceramic foams market. The growth is further accelerated by the surge in demand for thermally insulated and soundproof residential and non-residential infrastructure.
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Ceramic Foams Market Segment Insights:
By Type:
Based on the type, the market is segmented as silicon carbide, aluminum oxide, zirconium oxide, and others. Silicon carbide was the largest type of ceramic foam consumed in 2018. Silicon carbide is a premium advanced-grade ceramic used to manufacture foams. Properties such as low thermal expansion, high strength, excellent thermal shock resistance, high wear resistance, and high chemical resistance make silicon carbide the preferred material for ceramic foams in the iron casting application. Hence, these factors are likely to bolster the consumption of silicon carbide-based ceramic foams during the forecast period.
By Application Type:
Based on the application type, the market is segmented as molten metal filtration, thermal & acoustic insulation, automotive exhaust filters, furnace lining, catalyst support, and others. The molten metal filtration was the largest segment of the market in 2018, and it is expected to continue its dominance during the forecast period as well. This growth is owing to the increasing demand for iron, steel, and aluminum casting across all industrial verticals. This trend is accountable for the growing use of ceramic foams in the molten metal filtration application, which is driving the growth of the segment.
By End-Use Industry Type:
Based on the end-use industry type, the market is segmented as foundry, building & construction, chemical synthesis & pollution control, automotive, and others. Foundry was the largest end-use industry segment of the market in 2018, and is expected to maintain its dominance during the forecast period as well. The surge in the production of consumer electronics and automobiles as a result of rapidly evolving economies across the globe is expected to bolster the growth of the foundry industry, thus underpinning the growth of the ceramic foams market.
By Region:
In terms of regions, Asia-Pacific was the largest market for ceramic foams in 2018, and is expected to register the highest growth during the forecast period. Building & construction activities have increased exponentially in the past decade owing to promising demographics and a wide-scale manufacturing base in the region. The growth in metal casting production, especially in India and China, has stimulated the demand for ceramic foams in the region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
Some of the major players in the ceramic foams market are Altech Alloys India Pvt. Ltd., Dynocast, Drache GmbH, ERG Aerospace, Filtec Precision Ceramics Co., Ltd., Galaxy Enterprise, Induceramic, Jiangxi Jintai Special Material LLC, LANIK S.R.O., and Pingxiang Yingchao Chemical Packing Co., Ltd.
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- Attractive market segments and associated growth opportunities
- Emerging trends
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- Key success factors
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