Global Cordierite Market Size study & Forecast, by Type (Sintered, Porous), by Application (Automotive Parts, Deodorization, Deoxidation Smoke Extraction, Ceramic Kilns, Infrared Radiators, Electric Insulators, Welding Strip Rings, Others) and Regional An

Global Cordierite Market Size study & Forecast, by Type (Sintered, Porous), by Application (Automotive Parts, Deodorization, Deoxidation Smoke Extraction, Ceramic Kilns, Infrared Radiators, Electric Insulators, Welding Strip Rings, Others) and Regional Analysis, 2023-2030

Global Cordierite Market is valued approximately at USD 2.4 billion in 2022 and is anticipated to grow with a growth rate of more than 5.10% over the forecast period 2023-2030. Cordierite is a mineral and ceramic material that exhibits excellent thermal stability, low thermal expansion, and high resistance to thermal shock. It is composed primarily of magnesium, aluminum, and silica, making it a versatile material for various applications. Cordierite is widely used in industries such as automotive, electronics, catalysis, and refractories, due to its exceptional properties, including high-temperature resistance, low density, electrical insulation, and thermal insulation. The driving factors boosting the market growth are growing construction market and rising demand for ceramic filters.

According to Statista, the global construction industry is anticipated to witness consistent revenue growth in the coming years, with projections indicating that it will more than double in size by 2030 compared to its 2020 value. In 2020, the construction market reached a value of USD 6.4 trillion, and it is expected to expand to USD 14.4 trillion by 2030. Another driving factor is rising demand for ceramic filters. Cordierite-based ceramic filters are widely used in various applications, including water filtration, air purification, and molten metal filtration. Moreover, advancements in manufacturing processes and increasing water and air treatment needs is expected to create lucrative opportunities in the market. However, the high manufacturing cost and limited availability of raw materials such as clay, talc and alumina stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Cordierite Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to strong automotive industry, established industrial infrastructure, and growing investments in infrastructure. However, Asia Pacific is expected to be the fastest growing during the forecast period, owing to factors such as rising automotive production, increasing emphasis on environmental sustainability, and increasing focus on energy efficiency. For instance, cordierite-based products, such as heat exchangers and ceramic filters, are vital for energy-efficient systems and clean energy technologies.

Major market player included in this report are:
Denso Corporation
Kyocera Corporation
Elementis plc
Corning Inc.
NGK Insulators
TOTO Ltd.
Vesuvius Plc
United Microelectronics Corporation
Kyocera Corporation
CoorsTek Inc.

Recent Developments in the Market:
In May 2023, Denso Corporation and United Semiconductor Japan Co., Ltd. have established a collaborative partnership to jointly manufacture insulated gate bipolar transistors (IGBTs). This partnership aims to leverage the strengths and expertise of both companies to enhance the production and development of IGBTs, which are crucial components used in various industries such as automotive, industrial equipment, and renewable energy systems.
In April 2023, Kyocera Corporation has revealed its plan to acquire 37 acres of land at the Minami Isahaya Industrial Park in Isahaya City, Nagasaki Prefecture, for the establishment of a new smart factory. This strategic move aims to enhance Kyocera's manufacturing capabilities and meet the growing demand for its innovative products.

Global Cordierite Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Type, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Sintered
Porous

By Application:
Automotive Parts
Deodorization, Deoxidation Smoke Extraction
Ceramic Kilns
Infrared Radiators
Electric Insulators
Welding Strip Rings
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Denso Corporation
Kyocera Corporation
Elementis plc
Corning Inc.
NGK Insulators
TOTO Ltd.
Vesuvius Plc
United Microelectronics Corporation
Kyocera Corporation
CoorsTek Inc.

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