A Ceramic Foams Market Forecasts to 2028 – Global Analysis By Type (Silicon Carbide, Zircnium Oxide

Ceramic Foams Market Forecasts to 2028 – Global Analysis By Type (Silicon Carbide, Zircnium Oxide, Aluminum Oxide, Titanium Oxide and Other Types), Component (Furnace Lining, Molten Metal Filtration, Automotive Exhaust Filters, Catalyst Support, Thermal and Acoustic Insulation and Other Applications), End User and By Geography

According to Stratistics MRC, the Global Ceramic Foams Market is accounted for $389.13 million in 2022 and is expected to reach $574.23 million by 2028 growing at a CAGR of 6.7% during the forecast period. Ceramic foam is made from a variety of oxidised and non-oxidized ceramics, including aluminium oxide, titanium oxide, and silicon carbide, and has a low thermal conductivity, higher filtering capabilities, and resistance to high temperatures. Its applications include pollution absorption, molten alloy filtering, and acoustic and thermal insulation. Ceramic foam is a type of foam that is constructed of ceramic. Ceramic foams are brittle porous materials with partially connected, completely open, or closed porosity. Ceramic foams are made from a variety of oxidised and non-oxidized ceramic materials.

According to a report published by India Brands Equity Foundation, India’s finished steel consumption is anticipated to increase to 230 metric ton (MT) by 2030-31 from 93.43 metric ton (MT) in 2020-21.

Market Dynamics

Driver:

Increasing usage of ceramic foams for pollution control

Ceramic foams are used to manage pollution, specifically pollution particles emitted by engines. Ceramic foams are useful for pollution management because they have gaps that absorb pollution particulates and aid the catalyst in oxidising captured particulates. These pollution particles can be simply disposed of from ceramic foam and effectively disseminated throughout the entire foam. As a result, the increasing use of ceramic foams for pollution management is expected to boost market expansion.

Restraint

Availability of substitutes

The availability of alternative insulators such as Expanded Polystyrene Insulation (EPS), Extruded Polystyrene Insulation (EPS), and Refractory Ceramic Fibers (RCFs) is impeding the growth of the ceramic foam market. As these alternatives give similar insulation benefits in numerous industries such as building and construction and automotive. Furthermore, the alternative have different benefits such as heat and cold resistance, fire protection, excellent dimensional stability, and repel water, prevents humidity, and bacterial growth, as well as a cost advantage over ceramic foam. As a result, these substitutes pose a challenge to market expansion throughout the projection period.

Opportunity

Increasing demand for insulation materials

Ceramic foams are in high demand due to their insulating properties. The European Union has approved legislation requiring the installation of insulated materials in homes based on climatic conditions. The European Commission's Energy Performance of Buildings Directive (EPBD) is primarily concerned with the grades of insulating materials and their environmental impact. These government programmes have increased the use of insulating materials such as ceramic foams in homes and businesses. Hence, rising demand for insulating materials is expected to open up profitable potential for market expansion in the future years.

Threat

High cost of raw materials

The high cost of raw materials required for ceramic foam production is likely to limit revenue growth in the global ceramic foams market to some extent over the forecast period. Additionally, the expensive cost of technology and the intricate manufacturing process may stifle the expansion of ceramic foams. Additionally, capital-intensive production techniques, as well as the lack of recyclability and reparability of ceramic foams, are issues that may limit the market's growth.

Covid-19 Impact

The COVID-19 pandemic continues to unfold every day with severe impact on people, communities, and businesses. The pandemic has hampered the expansion of the Ceramic Foams Market. Because several end-use industries for ceramic foam are experiencing poor growth, such as the aerospace and construction industries, due to reverse migration of employees, consumers are focusing on conserving, avoiding discretionary spending, and reducing government investment. Furthermore, the manufacturing sector is contracting as a result of the epidemic, which has hampered market growth.

The silicon carbide segment is expected to be the largest during the forecast period

The silicon carbide segment is estimated to have a lucrative growth. Silicon carbide is a high-tech ceramic that is used to create foams. Because of qualities such as limited thermal expansion, high strength, outstanding thermal shock resistance, high wear resistance, and strong chemical resistance, silicon carbide is the material of choice for ceramic foams in the iron casting application. Silicon carbide's characteristics make it a popular material for usage in a variety of end-user industries. As a result, the demand for silicon carbide-based ceramic foams is projected to increase.

The molten metal filtration segment is expected to have the highest CAGR during the forecast period

The molten metal filtration segment is anticipated to witness the fastest CAGR growth during the forecast period. This segment's growth is being driven by the rising demand for iron, steel, and aluminium casting across all industrial verticals. Molten metal filtering is a process for removing unwanted solids from molten aluminium or any metal alloy prior to casting. Ceramic foams are utilised in molten metal filters to efficiently filter out microscopic impurities from the metals. This tendency is driving the rising use of ceramic foams in molten metal filtering, which is propelling the industry ahead.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period Building and construction activity in the region has increased dramatically in the previous decade, owing to the region's promising demographics and large-scale manufacturing base. The region's need for ceramic foams has been driven by an increase in metal casting operations, particularly in India and China. Furthermore, China's consumer electronics sector is rapidly expanding, which has boosted the performance of the region's ceramic foam market. As a result of all of these factors, the ceramic foams market in the area is predicted to have the greatest share throughout the forecast period.

Region with highest CAGR

Europe is projected to have the highest CAGR over the forecast period. Significant advances in the construction sector, as well as advancements in ceramic foam processing technology, are some of the primary reasons driving revenue growth in this region. Numerous European countries have implemented rules governing the grades of insulation materials that must be put in homes based on the country's climatic conditions. As a result, the increased need for insulating materials is likely to drive the expansion of the ceramic foam market in the coming years.

Key players in the market

Some of the key players profiled in the Ceramic Foams Market include Filtec Precision Ceramics Co., Ltd., Pingxiang Yingchao Chemical Packing Co Ltd., Baoding Ningxin New Material Co., Ltd., Ultramet, Saint-Gobain, ERG Aerospace Corp., Altech Alloys India Pvt. Ltd., Galaxy Enterprise, Dynocast, Recticel NV, TechCeramic Co., Ltd., S S Khardekar India Pvt. Ltd., Vesuvius Plc, LANIK S.R.O and Jiangxi Jintai Special Material LLC.

Key Developments

In November 2020, Recticel has acquired the Foam Partners from Swiss Conzzeta AG. With this acquisition, Recticel will strengthen its presence in Europe and global in specialty foam solutions market, specifically a faster growth in APAC and North American markets.

Types Covered:
• Silicon Carbide
• Zircnium Oxide
• Aluminum Oxide
• Titanium Oxide
• Other Types

Applications Covered:
• Furnace Lining
• Molten Metal Filtration
• Automotive Exhaust Filters
• Catalyst Support
• Thermal and Acoustic Insulation
• Other Applications

End Users Covered:
• Automotive
• Construction
• Foundry
• Pollution Control and Chemical Synthesis
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements