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Global Cordierite Market to reach USD 3.6 billion by the end of 2030

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

Product Code: CMAM-23278142
Publish Date: 10-08-2023
Page: 200

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
Vesuvius Plc
United Microelectronics Corporation
Kyocera Corporation
CoorsTek Inc.

Recent Developments in the Market:
Ø 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.
Ø 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:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s 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:

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

By Region:

North America


Asia Pacific
South Korea

Latin America

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

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Cordierite Market, by region, 2020-2030 (USD Billion)
1.2.2. Cordierite Market, by Type, 2020-2030 (USD Billion)
1.2.3. Cordierite Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Cordierite Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Cordierite Market Dynamics
3.1. Cordierite Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Growing construction market Rising demand for Ceramic filters
3.1.2. Market Challenges High manufacturing costs Limited availability of raw materials
3.1.3. Market Opportunities Advancements in Manufacturing processes Increasing water and air treatment needs
Chapter 4. Global Cordierite Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Cordierite Market, by Type
5.1. Market Snapshot
5.2. Global Cordierite Market by Type, Performance – Potential Analysis
5.3. Global Cordierite Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Cordierite Market, Sub Segment Analysis
5.4.1. Sintered
5.4.2. Porous
Chapter 6. Global Cordierite Market, by Application
6.1. Market Snapshot
6.2. Global Cordierite Market by Application, Performance – Potential Analysis
6.3. Global Cordierite Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Cordierite Market, Sub Segment Analysis
6.4.1. Automotive Parts
6.4.2. Deodorization, Deoxidation Smoke Extraction
6.4.3. Ceramic Kilns
6.4.4. Infrared Radiators
6.4.5. Electric Insulators
6.4.6. Welding Strip Rings
6.4.7. Others
Chapter 7. Global Cordierite Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Cordierite Market, Regional Market Snapshot
7.4. North America Cordierite Market
7.4.1. U.S. Cordierite Market Type breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Cordierite Market
7.5. Europe Cordierite Market Snapshot
7.5.1. U.K. Cordierite Market
7.5.2. Germany Cordierite Market
7.5.3. France Cordierite Market
7.5.4. Spain Cordierite Market
7.5.5. Italy Cordierite Market
7.5.6. Rest of Europe Cordierite Market
7.6. Asia-Pacific Cordierite Market Snapshot
7.6.1. China Cordierite Market
7.6.2. India Cordierite Market
7.6.3. Japan Cordierite Market
7.6.4. Australia Cordierite Market
7.6.5. South Korea Cordierite Market
7.6.6. Rest of Asia Pacific Cordierite Market
7.7. Latin America Cordierite Market Snapshot
7.7.1. Brazil Cordierite Market
7.7.2. Mexico Cordierite Market
7.8. Middle East & Africa Cordierite Market
7.8.1. Saudi Arabia Cordierite Market
7.8.2. South Africa Cordierite Market
7.8.3. Rest of Middle East & Africa Cordierite Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Denso Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. Kyocera Corporation
8.3.3. Elementis plc
8.3.4. Corning Inc.
8.3.5. NGK Insulators
8.3.6. TOTO Ltd.
8.3.7. Vesuvius Plc
8.3.8. United Microelectronics Corporation
8.3.9. Kyocera Corporation
8.3.10. CoorsTek Inc.
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

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Data Collection:
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Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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