(MENAFN- Alliance News) The research study conducted by Report Ocean on the " Cordierite Market " spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
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.
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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 Kyoceras 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
Customization Scope: Free report customization (equivalent up to 8 analysts working hours) with purchase. Addition or alteration to country, regional & segment scope*
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
Key Questions Answered in the Market Report:
? How did the COVID-19 pandemichave an impact onthe adoption ofviaa range ofpharmaceutical andexistencesciences companies?
? What is the outlook for theaffectmarketall throughthe forecastlength2023-2032?
? What are the keydevelopmentsinfluencing thehave an impact onmarket? How will theyhave an impact onthe market in short-, mid-, and long-term duration?
? What is thegive uppersonappreciationtoward?
? What are the keyelementsimpacting thehave an effect onmarket? What will be therehave an impact onin short-, mid-, and long-term duration?
? What are the keypossibilitiesareas in theinfluencemarket? What is theirworkablein short-, mid-, and long-term duration?
? What are the keytechniquesadoptedviagroupsin thehave an effect onmarket?
? What are the keyutilityareas of theinfluencemarket? Whichutilityispredictedtokeepthevery bestincreaseattainableall throughthe forecastduration2023-2033?
? What is thefavoureddeploymentmannequinfor the impact? What is theboomconceivableofquite a numberdeploymentfashionsexistingin the market?
? Who are the keyceasecustomersof pharmaceutical quality? What is their respective share in theaffectmarket?
? Which regional market ispredictedtomaintaintheeasiestboompossiblein thehave an impact onmarketat some stage inthe forecastlength2023-2032?
? Which are the keygamersin thehave an impact onmarket?
Growth Hampering Factors in the Market:
Environmental regulations : Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market. Safety concerns: Safety concerns regarding the storage and transportation of can limit their use. Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market. Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability. Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand. Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market. Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs. Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market. Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
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