CHICAGO, July 6, 2023 /PRNewswire/ -- The report "Cordierite Market by Type (Sintered, Porous), Application (Automotive Parts, Deodorization, Deoxidation Smoke Extraction, Ceramic Kiln, Infrared Radiator, Electrical Insulators, Welding Strip Rings), And Region - Global Forecast to 2028", is projected to reach USD 3.2 billion by 2028, at a CAGR of 5.1% from USD 2.5 billion in 2023. The major drivers for the cordierite market are growing automotive industry, increasing demand for lightweight materials. The high manufacturing costs, competition from substitute materials, and limited heat resistance are the major restraint in this market. Opportunities for the market include technological advancements in ceramic manufacturing processes and expansion of energy sector.
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"Sintered cordierite segment is projected to grow at fastest CAGR, in terms of value, during the forecast period."
Sintered cordierite possesses excellent thermal stability, allowing it to withstand high temperatures without deformation or degradation. This makes it suitable for applications involving thermal cycling and exposure to extreme heat, such as in automotive exhaust systems, catalytic converters, and kiln furniture. Sintered cordierite is commonly used in automotive applications, particularly in the manufacturing of diesel particulate filters (DPFs) and catalytic converters. Its high strength, low thermal expansion, and excellent thermal shock resistance make it ideal for these demanding environments.
"Deodorization, deoxidation smoke extraction is projected to be the fastest growing application in the cordierite market, in terms of value."
Cordierite is widely used in deodorization and deoxidation smoke extraction applications due to its excellent thermal stability, chemical resistance, and high porosity. In these applications, cordierite-based filters are utilized to effectively remove harmful gases, particulate matter, and unpleasant odors from industrial exhaust systems, commercial kitchens, waste treatment plants, and other similar environments. Cordierite filters efficiently trap and oxidize pollutants, contributing to improved air quality and ensuring compliance with stringent environmental regulations.
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"Europe is expected to be the third-largest market for cordierite during the forecast period, in terms of value."
This regional analysis delves into the market segmentation based on types, including sintered cordierite and porous cordierite, and applications such as automotive parts, deodorization & deoxidation smoke extraction, ceramic kiln, infrared radiators, electrical insulators, and welding strips rings. Europe's stringent emission regulations, emphasis on sustainable solutions, and thriving automotive and ceramics industries contribute to the demand for cordierite in this region.
Acquisitions, expansions, and partnerships are the major growth strategies adopted by the key players in the market. The key players in the cordierite market include DENSO Corporation (Japan), Kyocera Corporation (Japan), Corning Inc. (US), TOTO Ltd. (Japan), NGK Insulators (Japan), Vesuvius Plc (UK), Elementis Plc (UK), CoorsTek (US), Unifrax (US), and CeramTec (Germany), among others.
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