Ceramic fiber market: increasing demand from the major end-use industries across the globe is set to drive the growth of the global market.

Pune, India, January 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Ceramic Fiber Market.

Overview:

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

Ceramic Fiber Market Size was valued at USD 0.7 billion in 2022. The ceramic fiber market industry is projected to grow from USD 0.7 Billion in 2023 to USD 1.7 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.80% during the forecast period (2023 - 2032).

By type, the global ceramic fiber market has been divided into refractory ceramic fiber, alkaline earth silicone, and others. The refractory ceramic fiber type accounted for the largest market share in 2022 owing to its high insulating property. However, this type has been classified as possibly carcinogenic to humans by the Agency for Research on Cancer. Inhalation of the refractory ceramic fiber results in sore throat, nasal congestion, and cough whereas dermal exposure results in contact dermatitis and itching. This has resulted in a declining use of refractory ceramic fiber. The alkaline earth silicone type is expected to register a higher CAGR as it is bio-soluble and is non-hazardous.

On the basis of the product form, the market has been segmented into blankets, rope, paper, board, blocks, cloth, module, and others. The module product is dominating the global market due to certain advantages such as versatility and suitability, coupled with characteristics such as lightweight, low thermal conductivity, excellent chemical stability, and high thermal insulation.

Based on end-use industry, the market has been segmented into refining & petrochemical, iron & steel, power generation, chemical, transportation, and others. The refining & petrochemical industry accounted for the largest market share in 2022 on account of the extensive use of ceramic fibers for lower operating costs, increase reliability, and lower energy use in furnace linings, roofs, and walls.

Regional Analysis

Regionally, the global market has been segmented into five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.

The market in Asia-Pacific dominated the global ceramic fiber market in 2022 due to the rapid industrialization and urbanization in the emerging economies such as India, Thailand, and Indonesia are the primary factor affecting the growth of the ceramic fiber market.

The high demand for ceramic fiber from oil & gas industry, present in abundance in the middle East & African region is expected to drive the market in this region.

The market in North America and Europe is expected to witness steady growth on account of the industrialization downturn in these regions.

Competitive Analysis

Some of the manufacturers operating in the global ceramic fiber market are Morgan Advanced Materials (UK), Unifrax (US), LUYANG ENERGY-SAVING MATERIALS CO., LTD.  (China), IBIDEN (Japan), HarbisonWalker International (US), Isolite Insulating Products Co., Ltd. (Japan), NUTEC (Mexico), Rath-Group (US), FibreCast, Inc. (US), Pyrotek (US), and CeramSource, Inc., (US).

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