New Product Launches, and Investments & Expansions Strategies to Strengthen their Presence in the Thermal Ceramics Market.
The thermal ceramics market is estimated to be USD 3.36 billion in 2018 and is projected to reach USD 5.02 billion by 2023, at a CAGR of 8.4% from 2018 to 2023. Growing need for energy savings and rapid infrastructural development in emerging economies of APAC are driving the thermal ceramics market. The thermal ceramics market report analyzes key growth strategies adopted between 2013 and 2018 by the leading market players, which include Morgan Thermal Ceramics (UK), Unifrax (US), IBIDEN (Japan), Isolite Insulating Products (Japan), Luyang Energy-Saving Materials (China), RHI Magnesita, RHI Magnesita (Austria), Rath (US), Mitsubishi Chemical Corporation (Japan), 3M (US), and YESO Insulating Products (China). These companies adopted the mergers & acquisitions, agreements, partnerships & joint ventures, new product launches, and investments & expansions strategies to strengthen their presence in the thermal ceramics market.
Morgan Thermal Ceramics leads the thermal ceramics market and is one of the top manufacturers and suppliers of insulating fibers, insulating firebricks, and monolithic ceramics. The company is focused on increasing its R&D investment to increase its technical lead and accelerate new product development in the market. In September 2015, the company launched the lightest fire brick of 90 kg/ m3, the JM 23-400 type in the company’s brick product portfolio. In June 2014, it acquired Porextherm Dämmstoffe GmbH, an insulation manufacturer, to enhance its thermal insulation portfolio.
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Unifrax is another leading player in the thermal ceramics market. The company is focused on investing in research to develop sustainable solutions. In September 2017, Unifrax launched a low bio-persistent (LBP) fiber Isofrax 1400, which is the latest generation of the proven LBP technology. This product was designed for an enhanced high-temperature performance of up to 1400°C (2,552°F). In April 2014, Unifrax signed an agreement to acquire 29% share in Shandong Luyang Share, a leader in the domestic refractory & insulating market. It also signed a license agreement to allow Luyang to use its manufacturing technology.
Related Reports:
Thermal Ceramics Market by Type (Ceramic Fibers and Insulation Bricks), End-Use Industry(Mining & Metal Processing, Chemical & Petrochemical, Manufacturing, Power Generation),Temperature Range, and Region - Global Forecast to 2023
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