New York, Dec. 16, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Ceramic Fiber Market Size, Share, Industry Trends and Forecast to 2028- COVID-19 Impact and Global Analysis By Type [Refractory Ceramic Fiber (RCF), Alkaline Earth Silicate (AES) Wool, and Others], Product (Blanket, Module, Board, Paper, and Others), and End Use (Iron and Steel, Refining and Petrochemical, Power Generation, Aluminum, and Others),” the global ceramic fiber market size was valued at USD 1.57 Billion in 2022 and is projected to reach USD 2.51 Billion by 2028; it is expected to grow at a CAGR of 8% from 2022 to 2028.
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Global Ceramic Fiber Market Report Scope, Segmentations, Regional & Country Scope:
| Market Size Value in | USD 1.57 Billion in 2022 |
| Market Size Value by | USD 2.51 Billion by 2028 |
| Growth rate | CAGR of 8% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 137 |
| Historical data available | Yes |
| Segments covered | Type, Product, and End Use |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Key Research Capabilities | Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development |
| Global Ceramic Fiber Market Forecast to 2028 - Latest COVID-19 Analysis | https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00005837/ |
In 2021, Asia Pacific held the largest share of the global ceramic fiber market. Countries such as Australia, Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia have large manufacturing industries such as iron & steel, power generation, and aluminum. In Asia Pacific, refractory ceramic fibers are extensively used for insulation in condensing boilers due to their characteristics such as lightweight, high tensile strength, high-temperature stability, insulation efficiency, and good thermal shock resistance. Furthermore, the ceramic fiber market growth in this region can be primarily attributed to the industrial development in countries such as China, India, and South Korea. The growing steel and iron industry in India is also creating a huge demand for ceramic fibers. Further, the increasing industrialization and urbanization is also boosting the ceramic fiber market growth in the region. With the increasing industrialization and urbanization, the power generation industry in Asia Pacific region is growing.
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Global Ceramic Fiber Market: Competitive Landscape:
Great Lakes Textiles; HarbisonWalker International; Isolite Insulating Products Co., Ltd.; Lewco Specialty Products, Inc.; Luyang Energy-saving Materials Co., Ltd; Morgan Advanced Materials; Nutec Group; Pyrotek Inc.; Rath-Group; and Unifrax LLC are a few of the major players operating in the global ceramic fiber market. Market players are constantly focusing on strategies such as investments in research and development activities and new product launches. Players operating in the market are focusing on providing high-quality products to fulfill customer demand.
Global Ceramic Fiber Market is Driven by Growing Demand from Various End-Use Industries:
Ceramic fiber is used as a thermal insulator in the petrochemical industry. The low thermal conductivity of ceramic fibers allows the construction of thinner linings with the same thermal efficiency as conventional refractories. It has been observed that the insulation property of ceramic fiber is better than that of calcium silicate products. The ceramic fiber products can also be used for insulation, fire compartment and fire automatic curtain for important places in high-grade office buildings, such as archives, vaults, and safety cabinets. The lightweight property of ceramic fiber is another essential feature that weighs approximately one-tenth as compared to insulating brick and one-third that of calcium silicate or asbestos boards. Another important feature that has been responsible for the increasing demand for ceramic fiber from the end-users is lower heat storage. Due to its lower density, ceramic fiber absorbs less heat; hence, the furnaces can be heated and cooled at much faster rates. In addition, due to its resilient matrix, ceramic fiber linings are capable of resisting thermal shocks. All these properties of ceramic fiber have been contributing to the growing demand for ceramic fiber from various end-use industries such as iron & steel, refining & petrochemical, power generation, and aluminum.
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Ceramic Fiber Market: Segmental Overview
Based on type, the ceramic fiber market is segmented into refractory ceramic fiber (RCF), alkaline earth silicate (AES) wool, and others. The refractory ceramic fiber (RCF) segment held the largest share of the global ceramic fiber market in 2021. RCF are manufactured in various forms such as bulk fiber, blanket, modules, felt, paper, and vacuum formed shapes. They are easy to handle and possess low thermal conductivity and heat capacity.
Based on product, the ceramic fiber market is segmented into blanket, module, board, paper, and others. The blanket segment held the largest share of the global ceramic fiber market in 2021. The blanket is a refractory material with low thermal conductivity, high tensile strength, and resilience, along with resistance to thermal shocks and chemical attacks. These blankets are made of long flexible, interwoven fibers manufactured through the spun process and exhibit high insulation performance, flexibility, and strength.
Based on end use, the ceramic fiber market is segmented into iron and steel, refining and petrochemical, power generation, aluminum, and others. The refining and petrochemical segment held the largest share of the global ceramic fiber market in 2021. The refining & petrochemical industry is growing with an increase in industrialization. The need to reduce the operating costs, and less use of energy in furnace linings, roofs, walls, and various other applications are expected to fuel the demand for ceramic fiber in the refining & petrochemical industry.
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