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Global Heat Shield Market – Industry Trends and Forecast to 2029

Chemical and Materials

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Global Heat Shield Market – Industry Trends and Forecast to 2029

  • Chemical and Materials
  • Upcoming Report
  • May 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Heat Shield Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 4.19 USD Billion
Diagram Market Size (Forecast Year) USD 6.50 USD Billion
Diagram CAGR %

Major Markets Players

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Global Heat Shield Market, By Material Type (Metallic Heat Shield, Non-Metallic Heat Shield), Product (Exhaust Heat Shield Insulation, Turbo heat shield, Spark Plug Boot Heat Shield, Thermal and Heat Shield Sleeving, Fire Arm Heat Shield, Others), End-Use Industry (Automotive, Aircraft, Defense (Firearm)) – Industry Trends and Forecast to 2029

Heat Shield Market

Market Analysis and Size

These shields have gained popularity in recent years due to their low cost, ease of installation, and manufacturers' introduction of customizable and tailor-made variants. The improvement in the safety and performance of automotive components has become critical for heat shield manufacturers. The manufacturers are increasing their research and development efforts to develop lightweight fiber materials that offer heat and flame resistance. Consequently, owing to these determinants the market will gain lucrative growth.

Global Heat Shield Market was valued at USD 4.19 billion in 2021 and is expected to reach USD 6.50 billion by 2029, registering a CAGR of 5.65% during the forecast period of 2022-2029. The "automotive" segment accounts for the largest growing end use segment in the heat shield market owing to its increased utilization of heat shield across automotive sector. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

By Material Type (Metallic Heat Shield, Non-Metallic Heat Shield), Product (Exhaust Heat Shield Insulation, Turbo heat shield, Spark Plug Boot Heat Shield, Thermal and Heat Shield Sleeving, Fire Arm Heat Shield, Others), End-Use Industry (Automotive, Aircraft, Defense (Firearm))

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Market Players Covered

Morgan Advanced Materials (U.K.), Dana Limited (U.S.), Federal-Mogul Holding Corporation (U.S.), Autoneum (Switzerland), Lydall Inc. (U.S.), Heat Shield Products (U.S.), Progress-Werk Oberkirch AG (Germany), UGN Inc. (U.S.), Zircotec (U.K.).ThermoTec (U.S.), Elringklinger AG (Germany), Happich Gmbh (Germany), Carcoustics (Leverkusen), Datsons Engineering Works Private Limited (India), J&S GmbH Automotive Technology (Germany), NICHIAS Corporation (Japan), Cummins Inc (U.S.), Hyundai Motor Company (South Korea), MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), MAHLE GmbH (Germany)

Market Opportunities

  • Technological advancements, such as the integration of turbochargers or superchargers
  • Surging investment for the development activities

Market Definition

A heat shield is a specially designed sheet that is used to protect various automotive components from the excessive heat generated by the engine and exhaust systems. It is essential in increasing an engine's power output by controlling the under-bonnet temperature and maintaining optimal thermal comfort inside the vehicle.

Heat shield Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • High Demand Across End Users

The global heat shield market is primarily driven by rising automotive production as the heat shields are largely used across automobiles. The growing e-commerce sector has also increased demand for commercial vehicles, driving up the demand for heat shields across automotive sector. Furthermore, as the demand for electric and hybrid vehicles (EV/HEV) grows, the use of heat shields has increased because the lithium-ion batteries used in EV/HEVs generate a significant amount of heat. As a result, with surge in automobile production, the market is projected to grow.

  • High Preference for Nano-metric Coating-induced Heat Shields

The heat shield manufacturers are experimenting with nanometric aluminum coatings in stainless steel heat shields with high infrared reflectivity to improve thermal efficacy. BS Stainless, a metal fabricator based in Walton Summit Centre, England, has launched ShieldMet, a heat shield product that combines the strength and corrosion resistance of stainless steel with the high reflectivity of aluminum. Vehicle manufacturers are interested in nanometric coating-induced heat shields because of their excellent corrosion resistance and formability. The aluminum nanometric coatings have received a lot of attention for their ability to keep the aesthetics of stainless steel heat shields even at high temperatures. As a result, the market is estimated to grow significantly over the forecasted period.

Furthermore, the increasing disposable income coupled with the increasing urbanization and the industrialization will further propel the growth rate of heat shield market. The expansion of the automotive industry is also projected to bolster the growth of the market.

Opportunities

  • Surging Investments and Technological Advancements

Furthermore, the surging investment for the development of advanced and technical product extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the technological advancements, such as the integration of turbochargers or superchargers in spark ignition and compression ignition engines will further expand the future growth of the heat shield market.

Restraints/Challenges

  • Negative Impact of Pandemic

During to the COVID-19 pandemic, majority of the vehicle manufacturers shut down their plants, resulting in a decrease in vehicle production and sales. For instance, under pressure from unions to protect employees and follow government advisories, major automakers such as GM, Ford, and FCA decided to idle their plants around the world. Toyota, Honda, Tesla, and Nissan have also announced a global temporary production halt, posing a significant challenge to the automotive heat shield market. This further led to lesser demand for the heat shields across the automotive sector. Consequently, the market is projected to have restricted growth.

  • Increased Demand for Electric and Battery Electric Vehicles

There has been growing demand for electric and battery electric vehicles, which do not have any heat generating system, including an internal combustion engine, which further removes the need for a heat shield. Major vehicle manufacturers are focusing on and shifting toward electric vehicles while decreasing production of diesel engine vehicles, posing a significant challenge to the global automotive heat shield market.

This heat shield market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the heat shield market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Heat Shield Market

The recent outbreak of coronavirus had a negative impact on the heat shield market. The imposition of lockdowns and curfews resulted in the temporary closure of all industries and their activities until the lifting of the lockdowns was announced by government bodies. This lockdown had a high level impact on all sectors, most businesses suffered debts and losses; however, a few businesses made huge profits in these pandemic situations. The pandemic situation has had a significant impact on customers' financial incomes, as companies face financial wrath, employee layoffs, pay cuts, and other issues in the global connected car market. The automotive industry takes a significant hit in the first quarter of 2020, as all manufacturing facilities, showrooms, and other corporate offices, storage points, and logistics and supply chain are closed.

On the brighter side, the manufacturing sites have obtained permission to restart production despite having a limited operating staff. Sighting products are not in high demand; manufacturers are devoting more time to research and development that can be incorporated into new products. Furthermore, manufacturers are not taking the risk of manufacturing over demand and are wary of future market scenarios because the situation in many parts of the world is uncertain and vulnerable.

Recent Development

  • In February 2021, Vertical Aerospace and Solvay are working together to create the composite frame for the VA-1X passenger air taxi programme. This piloted electric Vertical Take-off and Landing (eVTOL) flagship aircraft will be capable of transporting four people and one pilot over a distance of 100 miles (160 kilometres) at cruise speeds of 150 mph/240 kmph. Solvay will give access to its wide composite and adhesive approved product line, as well as specialist technical and application support, at both Solvay's European Application Centers and Vertical Aerospace's location in Bristol, UK, as part of the agreement struck by both businesses. Together, the firms want to complete the development of the first flying prototype, which will be tested in September 2021.

Global Heat Shield Market Scope

The heat shield market is segmented on the basis of material type, product and end-use industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material Type

  • Metallic Heat Shield
  • Non-Metallic Heat Shield

Product

  • Exhaust Heat Shield Insulation
  • Turbo heat shield
  • Spark Plug Boot Heat Shield
  • Thermal and Heat Shield Sleeving
  • Fire Arm Heat Shield
  • Others

End-Use Industry

  • Automotive
  • Passenger cars
  • Light commercial vehicles
  • Heavy trucks
  • Buses and coaches
  • Aircraft
  • Piston engine aircraft
  • Turbine engine aircrafts
  • Defense (Firearm)

Heat Shield Market Regional Analysis/Insights

The heat shield market is analyzed and market size insights and trends are provided by country, material type, product and end-use industry as referenced above.

The countries covered in the heat shield market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the rising demand for heat shields in India and China as a result of increased car production in countries such as Japan, South Korea, and Taiwan within the region. The major players are heavily investing in this region, as well as conducting new product development activities to provide better heat shielding solutions.

North America on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the rising car production in countries such as the United States (U.S.), Canada, and others, there is an increase in transportation infrastructure projects requiring advanced technology within the region. Leading companies are heavily investing in research and development activities and new product launches to provide better heat shielding solutions to their customers.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Heat Shield Market Share Analysis

The heat shield market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to heat shield market.

Some of the major players operating in the heat shield market are

  • Morgan Advanced Materials (U.K.)
  • Dana Limited (U.S.)
  • Federal-Mogul Holding Corporation (U.S.)
  • Autoneum (Switzerland)
  • Lydall Inc. (U.S.)
  • Heat Shield Products (U.S.)
  • Progress-Werk Oberkirch AG (Germany)
  • UGN Inc. (U.S.)
  • Zircotec (U.K)
  • .ThermoTec (U.S.)
  • Elringklinger AG (Germany)
  • Happich Gmbh (Germany)
  • Carcoustics (Leverkusen)
  • Datsons Engineering Works Private Limited (India)
  • J&S GmbH Automotive Technology (Germany)
  • NICHIAS Corporation (Japan)
  • Dummins Inc (U.S.)
  • Hyundai Motor Company (South Korea)
  • MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan)
  • MAHLE GmbH (Germany)


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Global Heat shield Market is expected to show a value of USD 6.50 billion by 2029.
The Heat Shield Market is estimated to register a CAGR of 5.65% within the forecast period.
On the basis of product, the Heat Shield Market is segmented into Exhaust Heat Shield Insulation, Turbo heat shield, Spark Plug Boot Heat Shield, Thermal and Heat Shield Sleeving, Fire Arm Heat Shield, Others.
The major players operating in the Heat Shield Market are Morgan Advanced Materials (U.K.), Dana Limited (U.S.), Federal-Mogul Holding Corporation (U.S.), Autoneum (Switzerland), Lydall Inc. (U.S.), Heat Shield Products (U.S.), Progress-Werk Oberkirch AG (Germany), UGN Inc. (U.S.), Zircotec (U.K.).ThermoTec (U.S.), Elringklinger AG (Germany), Happich Gmbh (Germany), Carcoustics (Leverkusen), Datsons Engineering Works Private Limited (India), J&S GmbH Automotive Technology (Germany), NICHIAS Corporation (Japan), Cummins Inc (U.S.), Hyundai Motor Company (South Korea), MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), MAHLE GmbH (Germany).
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