DUBLIN--(BUSINESS WIRE)--The "Ceramic Fiber Market to 2027 - Global Analysis and Forecasts by Type, By Product Form, By End Use Industry" report has been added to ResearchAndMarkets.com's offering.
The global ceramic fiber market is accounted to US$ 1,547.6 Mn in 2018 and is expected to grow at a CAGR of 8.4% during the forecast period 2019-2027, to account to US$ 3,146.6 Mn by 2027.
Ceramic fiber products are used in metal industry, commercial & domestic appliances, interior of furnaces, space vehicles, etc.
Growing demand from various end-use industries is driving the growth of the ceramic fiber market. The ceramic fiber is used as a thermal insulator in the petrochemical industries that have created an upsurge for the ceramic fiber market. The ceramic fiber is approximately 40% more effective as compared to good quality insulation brick and twice better than asbestos products. It has been noted that the insulation property of ceramic fiber is better than that of calcium silicate products.
The lightweight of ceramic fiber is another essential feature that weighs about one-tenth as compared to insulating brick and one third than that of calcium silicate or asbestos boards. Another important feature that has been responsible for the increasing demand from the end-users is lower heat storage. All these factors are leading to the growth of the ceramic fiber market.
The global ceramic fiber market is bifurcated based on type into Refractory Ceramic Fiber (RCF), Alkaline Earth Silicate (AES) Wool and Others. The Refractory Ceramic Fiber (RCF) segment accounted for the largest share in the global ceramic fiber market. Refractory ceramic fiber is a class of fibers, which is known as man-made vitreous fibers. The demand for these fiber is high owing to its insulating qualities.
The refractory ceramic fiber is also known as alumino-silicate glass wool. Refractory ceramic fiber is more bio-persistent and durable than other synthetic vitreous fibers. It provides several desirable properties such as low heat storage, light weight, low thermal conductivity, corrosion resistance, and high thermal shock resistance. Due to the several advantages, the demand for refractory ceramic fiber is increasing for application in industrial equipment like kilns and furnaces, automotive exhaust systems, etc. is anticipated to be one of the major driver for the growth of ceramic fiber market.
The Asia Pacific ceramic fiber market is dominated by China, followed by the Japan. China is dominating the global petrochemicals market in terms of production and consumption, thereby increasing the demand for ceramic fibers. Additionally, ceramic fibers are extensively used in industries, such as paper & pulp, textile, energy, and power. The rapid growth in the iron and steel and power generation industry is also positively impacting the growth of ceramic fiber market in the APAC region. The ceramic fiber market in the APAC is propelling due to the presence of small and large scale companies.
Some of the players present in global ceramic fiber market are 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 among others.
Reasons to Buy
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global ceramic fiber market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize indepth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decisionmaking process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
- 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.
- Unifrax LLC
For more information about this report visit https://www.researchandmarkets.com/r/auaeva