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(I-AutoNewsWire.com, May 17, 2023 ) The report "Heat Shield Market by End-Use Industry (Automotive, Aircraft & Defense (Firearm)) and Material Type (Aluminum, Metallic, Non-Metallic) - Global Trends & Forecasts to 2021", The global market size of heat shield was USD 3.14 Billion by upcoming years and is projected to reach USD 4.19 Billion by 2021, at a CAGR of 5.06%. Rise in automotive and aircraft production, and rising concern towards safety in the end-use industries are the major factors driving the heat shield market.
The heat shield market refers to the industry involved in the manufacturing and distribution of heat shield products. Heat shields are materials or systems designed to protect various components and structures from excessive heat, often generated by engines, exhaust systems, or industrial processes. They are used in a wide range of applications, including automotive, aerospace, defense, energy, and industrial sectors.
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Browse in-depth TOC on "Heat Shield Market”
85 - Market Data Tables
46 - Figures
123 - Pages
The demand for heat shields is driven by several factors:
Automotive Industry: The automotive sector is a major consumer of heat shields. With the increasing focus on vehicle efficiency and emission regulations, automotive manufacturers are incorporating heat shields to protect sensitive components from excessive heat and to improve overall thermal management.
Aerospace and Defense: Heat shields play a critical role in aerospace and defense applications. They are used to protect spacecraft, satellites, missiles, and aircraft from the intense heat generated during re-entry, propulsion, and high-speed flight.
Energy Sector: Heat shields are utilized in power generation plants, including fossil fuel-based, nuclear, and renewable energy facilities. They are employed to protect equipment, such as turbines, exhaust systems, and pipes, from extreme temperatures and to enhance energy efficiency.
Industrial Applications: Various industrial processes, such as metalworking, glass manufacturing, and chemical production, involve high-temperature operations. Heat shields are used to safeguard equipment, machinery, and personnel, ensuring safety and productivity.
Advancements in Materials and Technology: Ongoing advancements in materials science and manufacturing technologies have led to the development of innovative heat shield solutions. Lightweight and high-performance materials, such as composites, ceramics, and thermal barriers, are increasingly being adopted, driving market growth.
Environmental Regulations: Stricter environmental regulations related to emissions and thermal management have compelled industries to invest in heat shield technologies. Heat shields help reduce heat transfer and prevent energy wastage, thereby supporting compliance with environmental standards.
Aftermarket Sales: The aftermarket for heat shields is significant, as existing vehicles, machinery, and equipment often require heat shield replacements or upgrades. This creates a sustained demand for heat shield products and services.
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Automotive industry end-use industry captures the largest share of the heat shield market
The heat shield market is segmented based on end-use industry into automotive, aircraft, and defense (firearms). Automotive heat shield captured the maximum share of the overall heat shield market in 2015 and is projected to witness high growth rate during the forecast period. This is due to the rising living standards and rising demand for automotive in the developing countries.
By material type, non-metallic heat shield captures the largest share of the heat shield market
Heat shields are segmented as metallic and non-metallic based on the material type. Non-metallic heat shield is the most commonly used heat shield material mainly due to rising use of composites and related materials in the manufacturing of heat shields. In addition, the non-metallic heat shields are lighter in weight and have high temperature resisting capacity, which accounts for their higher market share.
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Asia-Pacific is the largest heat shield market
The heat shield market is broadly segmented into six regions, namely, Asia-Pacific, North America, Western Europe, Central & Eastern Europe, South America, and the Middle East & Africa. Asia-Pacific is the largest heat shield market, followed by North America and Western Europe, in terms of value. The rising consumption of passenger cars, especially in the developing economies, and increased safety and security requirements in the exhaust system of automotive and aircrafts are some of the major factors boosting the heat shield market.
Currently, various market players such as are Morgan Advanced Materials (U.K.), Dana Holding Corporation (U.S.), Federal Mogul Holding Corporation (U.S.), Autoneum Holdings AG (Switzerland), Lydall Inc. (U.S.), Elringklinger AG (Germany), Progress-Werk Oberkirch AG (Germany), UGN Inc. (U.S.), ThermoTec Automotive (U.S.), and Zircotec (U.K.) dominate the global heat shield market.
Mr. Aashish Mehra