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According to MRFR analysis, the global Heat Shield market is expected to register a CAGR of ~6% from 2022 to 2030 and hold a value of over USD 7 billion by 2030. A heat shield is a device or material that is used to protect a surface or structure from heat.
Heat shields are commonly used in a variety of applications, including automotive, aerospace, and industrial, where they are used to protect sensitive components or materials from high temperatures. Heat shields can be made from a variety of materials, including metals, ceramics, and composite materials, and they can be designed to reflect, absorb, or dissipate heat. The demand for heat shields has remained relatively stable during the pandemic, as they are used in a variety of applications where protection from heat is critical.
The growth of the automotive industry in the Asia Pacific is being fuelled by factors such as increasing urbanization, industrialization, and the sale of commercial vehicles. Additionally, the region's growth is being buoyed by factors such as increasing disposable income and the increasing number of luxury vehicle consumers. Asia Pacific is forecast to show the highest growth in the automotive market, followed by North America. The increasing demand for automobiles and investments in the aircraft and defense sectors are fuelling the growth of the American automotive market.
The Global Heat Shield market has been segmented into material, product, and end user.
Based on the material, the market has been segmented into Metallic and Non-metallic.
Based on the product, the market has been segmented into Exhaust Heat Shield Insulation, Turbo heat shield, Spark plug boot heat shield, Thermal & Heat shield sleeving, Fire arm heat shield, and others.
Based on the end user, the market has been segmented into Automotive, Defense, Aircraft, and others.
Some of the key market players are Morgan Advanced Materials, Dana Holding Corporation, Federal-Mogul Holding Corporation, Autoneum Holdings AG, Lydall Inc., Progress-Werk Oberkirch AG, UGN Inc., and Zircotec, ThermoTec Automotive.
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