Ceramic Fiber Market | Growth Popularity And Emerging Trends In The Industry

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 is a small-dimension filament or thread, which is composed of a ceramic material, primarily alumina and silica. It is used in lightweight units for electrical, sound, and thermal insulation. Most ceramic fiber contain equal proportion of alumina and silica. Some nonoxide specialty fibers such as silicon nitride, silicon carbide, and boron nitride have been also produced. The physical and chemical properties of the ceramic fiber vary with the composition. Ceramic fiber products are used in metal industry, commercial & domestic appliances, interior of furnaces, space vehicles, etc.

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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.

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.

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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.

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The overall global ceramic fiber market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the ceramic fiber market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the ceramic fiber market.

GLOBAL CERAMIC FIBER MARKET SEGMENTATION

By Type