Ceramic Fiber Market Size to Reach USD 2854.5 Million by 2027 at CAGR 3.9% - Valuates Reports

BANGALORE, India, Oct. 26, 2021 /PRNewswire/ -- The Ceramic Fiber Market  is Segmented by Type (Ceramic Fiber Blanket, Ceramic Fiber Board, Ceramic Fiber Cotton, Non-Shaped Ceramic Fiber), Application (Aerospace And Defense, Chemical, Steel Industry, Electrical Appliances, Others). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under Chemicals Industry Category.

In 2020, the global Ceramic Fiber market size was USD 2184 Million and it is expected to reach USD 2854.5 Million by the end of 2027, with a Compound Annual Growth Rate (CAGR) of 3.9% during the forecast period 2021-2027.

Major Factors Driving The Growth Of The Ceramic Fiber Market Are:

The increased use of ceramic fibers in end-use industries is likely to fuel the ceramic fiber market growth, due to attributes such as lightweight, high thermal conductivity, thermal shock resistance, high-temperature stability, and high chemical resistance.

Furthermore, the ceramic fiber market is predicted to increase significantly due to the rising use of ceramic fiber for insulation reasons in the iron and steel, and petrochemical industries.

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Trends Influencing The Growth Of The Ceramic Fiber Market:

The growing use of ceramic fiber in a variety of end-user applications is projected to propel the ceramic fiber market forward. In shipbuilding, high-temperature-resistant ceramic blankets and boards are used as insulation to prevent fires from spreading and for general heat containment. For this reason, blankets, rigid boards, and semirigid boards can be used to ship compartment walls and ceilings. In the automobile sector, as well as in aircraft and spacecraft engines, ceramic blankets are employed as insulation for catalytic converters. Ceramic blankets are used as furnace interior insulation in the metal sector. For insulation, boards are used in conjunction with blankets. In the chemical-process industry, ceramic boards are also utilized as a backup insulation for furnaces and kilns, thermal covering for stationary steam generators, linings for molten metal ladles, and cover insulation for magnesium cells and high-temperature reactors.

Increasing demand for ceramic fiber insulation from high-temperature applications is expected to drive the growth of the ceramic fiber market. The thermal conductivity of ceramic fiber is low, and it can resist high temperatures. Furthermore, it has a low density and thermal inertia. For excellent heat containment and energy conservation, ceramic fiber products are employed as insulation materials in high-temperature applications. Blankets, boards, bulk fibers, modules, paper, textiles, and other items are among the goods. Petrochemical, iron & steel, aluminum, ceramic, power generation, automotive, aerospace, and glass are among the end-use industries that benefit from their lightweight, thermal shock resistance, and strength.

End-user industries' increasing need to save energy and lower production costs are likely to increase demand for ceramic fiber to a significant amount throughout the forecast period. In the iron and steel sectors, ceramic fiber is commonly utilized as a refractory liner for thermal processing and heating furnaces. This is due to its increased energy conductivity per unit thickness compared to insulating fire bricks. Ceramic fiber helps save energy by keeping heat from escaping from furnaces and kilns. It is lightweight and has low conductivity. This feature is in turn expected to drive the growth of the ceramic fiber market.

During the forecast period, the growing aerospace industry in the world is likely to boost the ceramic fiber market. Ceramic fibers are utilized in the aerospace sector because of their lightweight, high-temperature resistance, electrical insulation, high energy of ablation, corrosion resistance, chemical stability, wear resistance, and vibration resistance.

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Ceramic Fiber Market Share Analysis

Based on region, North America is the largest market, with a share of about 40%, followed by China and Europe, having a total share of about 50 percent. This dominance of North America is attributed to the increase in shale exploration activities.

Based on product, Ceramic Fiber Blanket is the largest segment, with a share of about 45%. This is due to increased demand for insulating material in the shipping, industrial, automotive, and aerospace industries. Blankets made of ceramic fibers are a popular item on the market. In shipbuilding, high-temperature resistance ceramic blankets are used as insulation to prevent fire propagation and general heating containment. Blankets are often utilized on the ceilings and walls of ship cabins.

Based on application, the largest application is Chemical Industry, followed by the Aerospace And Defense Industry, Steel Industry, Electrical Appliances, etc.

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Major Players in the Ceramic Fiber Market

• Ibiden
• Morgan Thermal Ceramics
• Shandong Luyang Share
• Isolite Insulating Products
• Nutec Fibratec
• Rath
• Unifrax I LLC
• Yeso Insulating Products Co. Ltd.
• Thermost Thermotech Co. Ltd
• Hongyang Refractory Materials
• Others

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