Pune, India, Feb. 09, 2022 (GLOBE NEWSWIRE) -- The global ceramic fiber market has been estimated a value USD 1,549.8 million in 2021 and is projected to exhibit a CAGR of 10.75 % during the forecast period, as per a recent market study by Quince Market Insights.
Ceramic fiber is lightweight, has a high compressive strength, and enhances thermal performance without requiring vacuum, it is utilized in aeroplanes. Another name for it is high-temperature insulating wool. They're only used in high-temperature industrial applications and other activities. Ceramic fibers are utilized in a wide range of industries, including aluminum, petrochemicals, power generation, iron and steel, ceramics, and so on. The first type of ceramic fiber is aluminum silicate fiber, often known as refractory ceramic fiber.
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Rising demand for ceramic fiber from major end-use sectors such as iron and steel, refining and petrochemicals, power generation, chemical, transportation, and others is propelling the market forward. Ceramic qualities are in high demand due to their exceptional properties, such as light weight, thermal stability, superior thermal insulating performance, strong resistance to thermal shock, and low thermal conductivity. It also has a low heat storage capacity, strong sound absorption, good corrosion resistance, chemical resistance, and chemical stability, among other features. One of the main drivers of the ceramic fiber market is the growing demand for ceramic fiber in the refining and petrochemical sectors. Paints, rubbers, plastics, textiles, solvents, detergents, dyes, and other synthetic commodities are all made with petrochemicals, which fuels the market.
COVID 19 Impact on Global Ceramic fiber Market
The COVID 19 has impacted every industry. COVID-19 has had a global impact on customer behavior. The pandemic also dealt a huge hit to the ceramic fiber business, which saw manufacturing operations stifled due to a lack of resources and trade restrictions. However, according to some recent industry studies, the demand for ceramics in the post-pandemic age is expected to increase dramatically. Demand for ceramic products has increased tremendously and the market is sustaining its position at the global level. The Covid Impact affected the ceramics market for two years, although market values are rising for this market post pandemic.
Global Ceramic fiber Market, by End-Use
Based on End use, the market is divided into Refining & Petrochemical, Iron & Steel, Power Generation, and Aluminum.
Global Ceramic fiber Market, by Type
Based on type, the market has been segmented into RCF, AES, and Wool. The RCF type category has a larger market share due to rising demand for low-cost fibers, low heat storage, and strong thermal stability. Growing need for flexible, robust, and lightweight materials, rising quality of life, and high per-capita expenditure are driving the RCF market in this region. Companies are rapidly producing and deploying AES wool as an alternative due to the carcinogenic nature of RCF and the adoption of many regulations on its use.
Global Ceramic fiber Market, by Product Form
Based on the Product Form, the market is divided into Blanket, Board, Paper, and Module. Due to increased demand for insulation materials from various industries such as metal, transportation, automotive, and space, the blanket category is predicted to have the largest market share. Due to its design and performance adaptability, blanket is the most well-known ceramic fiber product. In terms of value, the blanket category accounted for the highest share of the whole market. Insulation materials are in significant demand in the maritime, metal, automotive, and space industries, resulting in a large market.
Global Ceramic fiber Market, by Application
Based on the Application, the market is divided into Pumps, Filters, Liners, Seals, Valves, Bearings, and Others. Among these, the pump category is expected to have the largest market share, owing to the increased demand for insulating materials from various industries such as metal, transportation, automotive, and space.
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Global Ceramic fiber Market, by Region
Based on the region, the global Ceramic fiber Market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa and South America. Due to rising industrialization, particularly in China, India, and Indonesia, Asia-Pacific had the biggest market share. Furthermore, ceramic fibers are widely used in Chinese steel industries to improve production efficiency.
The second-largest market share belonged to Europe, which was followed by North America. Europe is expected to expand slowly. Because of increased shale development, North America is expected to grow steadily. Furthermore, the region's market expansion is expected to be aided by increased demand from the existing petrochemical and steel sectors.
Asia-Pacific accounted for the greatest proportion of the global market. However, in the approaching years, the global market will be driven by emerging activities in industries such as construction, energy, industrial, and automotive. Furthermore, the readily available supply of low-cost ceramic fibers in China and India is expected to grow in the near future.
Some Recent Developments in the Global Ceramic fiber Market:
- In July, 2020, Unifrax I LLC bought Rex Materials Group, a company that makes engineered thermal components, Stellar Materials, LLC, a manufacturer of proprietary specialised chemicals and materials, was purchased by a firm in 2019.
- In June, 2020, Morgan Advanced Materials Plc bought Carbo San Luis, a mineral product maker, and worked with The Midlands Industrial Ceramics Group in 2021, establishing Morgan Advanced Materials Plc as the world leader in advanced ceramics.
Some Major Findings of the Global Ceramic fiber Market:
- Profiles of major market players operating in the global ceramic fibre market include Morgan Advanced Materials plc (UK), Unifrax LLC (US), Luyang Energy Savings Material Co., Ltd. (China), Ibiden Co., Ltd. (Japan), Harbisonwalker International Inc. (US), Isolite Insulating Product Co. Ltd. (Japan), Nutec Fibratec (Mexico), Yeso Insulating Product Co.Ltd. (Japan), Rath Group (US), FibreCast Inc. (US), and Double Egret Thermal Insulation (China).
For more information on this topic please visit our website report titled, “Ceramic Fiber Market, By Type (RCF, AES, Wool), By Product Form (Blanket, Board, Paper, and Module), by Application, (mps, Filters, Liners, Seals, Valves, Bearings, and others)By End-Use Industry (Refining & Petrochemical, Iron & Steel, Power Generation, and Aluminum), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) ” in-depth analysis along with the table of contents (ToC).
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