The Worldwide Ceramic Fiber Industry is Expected to Reach $3.3 Billion by 2026 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Ceramic Fiber Market by Type (RCF, AES Wool), Product Form (Blanket, Module, board, Paper) End-use Industry (Refining & Petrochemical, Metals, Power Generation), and Region (APAC, Europe, North America, MEA, South America) – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

The ceramic fiber market is projected to reach USD 3.3 billion by 2026, at a CAGR of 9.9% from USD 2.1 billion in 2021. The growth of the ceramic fiber market is primarily triggered by its increasing use in the refining & petrochemical and power generation industries.

The major restraint for the market will be the stringent regulations pertaining to the use of carcinogenic materials. The harmful and adverse effects on the environment and human health is a major concern, worldwide. The use of such toxic substances has, thus, been limited or banned in many applications, thereby restraining the market growth. However, rising demand for high-temperature insulation from developed regions will act as an opportunity for the market.

The RCF is the largest type for the ceramic fiber market in 2020

The rising construction activities; high production of iron & steel and aluminum industries; the rising demand for flexible, durable, and lightweight materials; rising standard of living, and high per-capita spending are driving the RCF market in this region. Owing to the carcinogenic nature of RCF and the introduction of several regulations on the use of RCF, companies are now manufacturing and using AES wool as a substitute for RCF.

The blanket is estimated to be the largest product form in the ceramic fiber market between 2021 and 2026

The blanket is the most widely-known product form of ceramic fiber because of its versatility in design and performance. The blanket segment accounted for the largest share of the overall market, in terms of value, in 2020. The huge demand in this segment is owing to the high demand for insulation material in the shipping, metal, automotive, and space industries.

Refining & petrochemical is estimated to be the largest end-use industry of the ceramic fiber market between 2021 and 2026

The refining & petrochemical industry had the highest market share and is expected to grow at the highest rate during the forecast period mainly because of its high use in the furnaces and boilers for refining crude and petrochemicals production. The increasing need to lower operating costs, increase reliability, and lower the energy use in furnace linings, roofs, and walls are fueling the demand for ceramic fiber in the refining & petrochemical industry.

APAC is expected to be the largest ceramic fiber market during the forecast period, in terms of value

The dominance is expected to continue during the forecast period due to intensive R&D, increasing infrastructural development activities, and increasing awareness created by regulatory organizations, such as EPA and REACH, for environmental protection. Intensive R&D activities are being undertaken in countries, such as China and India.

In addition, increasing construction activities to cater to the increasing population and high demand for lightweight and low-cost substitute products are fueling the growth of the ceramic fiber market in the region.

In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted.

Market Dynamics

Drivers

• Increasing demand for ceramic fiber insulation from high-temperature applications
• Increased thermal efficiency as compared to substitutes
• Rapid urbanization and infrastructural developments

Restraints

• Stringent regulations pertaining to the use of carcinogenic materials and durability issue
• Stringent regulations on conventional insulation products

Opportunities

• Increasing demand from various applications in aerospace and alternative energy industries
• Increasing capacity expansions and joint venture activities in high-growth markets

Challenges

• Changes in the iron & steel industry of China
• Delayed and increased ocean freights to affect ceramic fiber imports

Companies Mentioned

• 3M
• ADL Insulflex Inc.
• BASF SE
• Ceramsource Inc.
• Double Egret thermal Insulation
• Fibrecast Inc.
• General Insulation Company, Inc.
• Great Lakes Textiles
• Harbisonwalker International Inc.
• Ibiden Co., Ltd.
• Isolite Insulating Product Co. Ltd.
• Lewco Specialty Products, Inc.
• Luyang Energy Savings Material Co., Ltd.
• M.E. Schupp Industrial Ceramics GmbH
• Mineral Seal Corporation
• Morgan Advanced Materials Plc
• NGP Industries Limited
• Nutec Fibratec
• Promat
• Pyrotek Inc.
• Rath Group
• Shree Ceramic Fiber Private Limited
• Thermalmax Inc.
• Unifrax I LLC
• Yeso Insulating Product Co., Ltd

For more information about this report visit https://www.researchandmarkets.com/r/86xarc.

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