What is the future of Ceramic Foams Market? Know Covid Impact on Size, Share & Forecasts
June 12, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Ceramic Foams Market.
It was estimated prior to this unanticipated outbreak that the Ceramic Foams Market was expected to grow at CAGR of 7.2% during forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Ceramic Foams are tough foams that are made up of ceramic materials. These foams have the properties of insulation due to the air-filled voids in them.
Ceramic Foams are of Silicon Carbide, Aluminum Oxide, Zirconium Oxide, and others. Molten metal filtration, thermal & acoustic insulation, automotive exhaust filters, furnace lining, catalyst support, and others are some of the important application areas where ceramic foams are used.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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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.
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.
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.
In terms of regions, Asia-Pacific was the largest market for ceramic foams in 2018, and is expected to register high 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.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Ceramic Foams Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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