Ceramic Fiber Market Size is projected to reach USD 3417.41 Million by 2028, growing at a CAGR of 9.50%: Facts & Factors

Oct 28, 2023

[226+ Pages Report] The global ceramic fiber market size was valued at USD 1982.50 million in 2021 and is expected to surpass USD 3417.41 million by 2028, registering a CAGR of 9.50% during the forecast period (2022- 2028), as highlighted in a report published by Facts & Factors. The key market players listed in the Ceramic Fiber report with their sales, revenues and strategies are Unifrax LLC, Morgan Advanced Materials plc, Ibiden Co. Ltd., Luyang Energy Savings Material Co. Ltd., Isolite Insulating Product Co. Ltd., Harbisonwalker International Inc., Yeso Insulating Product Co.Ltd., Nutec Fibratec, Rath Group, FibreCast Inc., Double Egret Thermal Insulation., and Others.

NEW YORK, United States, March 17, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled "Ceramic Fiber Market Size, Share, Growth Analysis Report By Type (RCF, AES Wool, Others), By Product Form (Blanket, Module, Board, Paper, Other), By End-use Industry (Refining & Petrochemical, Metals, Power Generation, Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" in its research database.

"According to the latest research study, the demand of global ceramic fiber market size & share was valued at approximately USD 1982.50 million in 2021. The market is expected to grow above a CAGR of 9.50% and is anticipated to reach over USD 3417.41 million by 2028."

The report analyzes the ceramic fiber market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the global ceramic fiber market.

Ceramic Fiber Market Overview:

Ceramic fibers are high-temperature fibers created for use in several commercial and industrial applications. Metal oxides such as alumina, silica, and others are used to create these fibers. This fiber is white & odorless and can be used in high-temperature applications. Ceramic fibers are expected to have substantial growth during the forecasted period due to their use for insulation in the iron & steel industry and the petrochemical industry. Its key characteristics include lightweight, strong chemical resistance, high thermal conductivity, thermal shock resistance, and increased temperature stability. The market for ceramic fibers is growing as a result of ceramic fibers' ability to provide thermal protection, which makes them suitable for several industries, including iron & steel and oil & gas.

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Updated Regional Analysis with Graphical Representation of Size, Share, and Trends

Includes Tables and figures have been updated

The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Historic and Forecast Growth, Porter's 5 Forces Analysis

Facts and Factors research methodology

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Report Scope:

Report Attribute

Details

Market Size in 2021

USD 1982.50 Million

Projected Market Size in 2028

USD 3417.41 Million

CAGR Growth Rate

9.50% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Unifrax LLC, Morgan Advanced Materials plc, Ibiden Co. Ltd., Luyang Energy Savings Material Co. Ltd., Isolite Insulating Product Co. Ltd., Harbisonwalker International Inc., Yeso Insulating Product Co.Ltd., Nutec Fibratec, Rath Group, FibreCast Inc., Double Egret Thermal Insulation., and Others

Key Segment

By Type, Product Form, End-use Industry, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

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Key Insights from Primary Research

As per the analysis, the ceramic fiber market share is likely to grow above a CAGR of around 9.50% between 2022 and 2028.

The Ceramic Fiber market size was worth around US$ 1982.50 million in 2021 and is estimated to hit approximately US$ 3417.41 million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.

The market for ceramic fibers is expanding due to the thermal protection of ceramic fibers, which makes it appropriate for various industries such as iron & steel and oil & gas.

By type, the AES type category dominated the market in 2021.

By product, the modules segment dominated the market in 2021.

On the basis of region, the Asia Pacific market dominated the global ceramic fiber market in 2021.

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Industry Growth Drivers:

Increasing use of ceramic fiber in the petrochemical industry drives the market growth

One of the key factors propelling the global ceramic fiber market is the rising demand for ceramic fiber in the petrochemical and refining sectors. Petrochemicals are essential for producing synthetic materials such as paints, textiles, solvents, detergents, rubber, plastics, and dyes, which power the global market. For boilers and heating centers, catalyst bases and filter parts for cleaning hot gases, boiler header insulation, high-temperature filtration of gases and liquids, reactors & cat crackers, and burner insulation, ceramic fiber is widely employed in the petrochemical industry.

Another significant factor favorably affecting the market growth is the increased demand for stainless steel with the expansion of the aviation industry and rail transportation. The use of petrochemicals and their derivative products for environmental protection is subject to strict regulations, impeding the market's expansion.

Ceramic Fiber Market: Segmentation Analysis

The global ceramic fiber market has been segmented into type, product, end-use industry, and region.

The market is divided into categories based on type: RCF, AES wool, and others. In 2021, the AES category dominated the market. The market is divided into a blanket, module, board, paper, and others based on product. The module sector is anticipated to increase fastest during the forecast period.

The market is divided into iron & steel, refining & petrochemical, power generation, aluminum, and others based on the end-use industry. The refining & petrochemical segment dominated the market in 2021. Ceramic materials are in high demand due to their exceptional qualities, including their lightweight, thermal stability, strong resistance to thermal shock, outstanding thermal insulating performance, and low thermal conductivity. These qualities are in addition to its low heat storage, high corrosion resistance, great sound absorption, chemical resistance, and chemical stability.

Browse Complete Report Here | Ceramic Fiber Market Size, Share, Growth Analysis Report - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028

Regional Analysis:

The Asia Pacific dominated the ceramic fiber market in 2021

The global ceramic fiber market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The Asia Pacific dominated the global market for ceramic fiber in 2021 due to rapid industrialization, particularly in China, India, and Indonesia. The Chinese iron and steel industries are also adopting ceramic fibers more frequently to increase manufacturing efficiency.

However, Asia-Pacific currently dominates the ceramic fiber market due to the rising demand for environmentally friendly products. During the anticipated term, growing infrastructure projects and intensifying environmental protection efforts will also help the region's ceramic fiber market thrive.

Competitive Players:

The report contains qualitative and quantitative research on the global ceramic fiber market, as well as detailed insights and development strategies employed by the leading competitors.

Some of the main players in the global ceramic fiber market include;

Unifrax LLC

Morgan Advanced Materials plc

Ibiden Co. Ltd.

Luyang Energy Savings Material Co. Ltd.

Isolite Insulating Product Co. Ltd.

Harbisonwalker International Inc.

Yeso Insulating Product Co.Ltd.

Nutec Fibratec

Rath Group

FibreCast Inc.

Double Egret Thermal Insulation

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Recent Industry Developments:

Unifrax LLC purchased Rex Materials Group, a producer of engineered thermal components. Stellar Materials, LLC, a manufacturer of distinctive specialized chemicals and materials, was acquired by a firm in 2019.

April 2019: Ultrathin ceramic fiber boards with 3mm and 4mm thickness were introduced by Zibo Meiyuan Thermal Insulation Material. These boards are employed in producing light-duty industrial combustion chambers, thermal barriers, heat shields, refractory lining, household appliances, industrial heat processing equipment, and others.

The global ceramic fiber market is segmented as follows:

By Type

RCF

AES Wool

Others

By Product form

Blanket

Module

Board

Paper

Others

By End-use industry

Refining & Petrochemical

Metals

Power Generation

Others

By Region

North America

The U.S.

Canada

Europe

France

The UK

Spain

Germany

Italy

Rest of Europe

Asia Pacific

China

Japan

India

Southeast Asia

Rest of Southeast Asia

The Middle East & Africa

GCC

South Africa

Rest of the Middle East & Africa

Latin America

Brazil

Argentina

Rest of Latin America

Have Any Query? Ask Our Experts

Key questions answered in this report:

What is the size of the ceramic fiber market and what is its expected growth rate?

What are the primary driving factors that push the ceramic fiber market forward?

What are the ceramic fiber Industry's top companies?

What are the different categories that the ceramic fiber Market caters to?

What will be the fastest-growing segment or region?

In the value chain, what role do essential players play?

What is the procedure for getting a free copy of the ceramic fiber market sample report and company profiles?

Key Offerings:

Market Size, Trends, & Forecast by Revenue | 2022−2028

Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

Market Segmentation – A detailed analysis by Type, Product Form, End-use Industry, and Region

Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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