Press release
What’s Driving the Ceramic Fiber Market Trends? Top Players: Unifrax I LLC, Morgan Advanced Materials, NGP INDUSTRIES LTD, Nutec
Ceramic Fiber Market
Global Ceramic Fiber Market size is expected to grow with a prominent CAGR by 2024. The thermal-efficient insulation demand from various industries including oil & gas, iron & steel, power generation, etc. shall drive the global market. These fibers feature high levels of thermal efficiency and will have significant demand for their usage in the inner linings of several reheating furnaces at steel production plants.
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As per the World Steel Association, crude steel production in the world reached 1,630 million tons in 2016, rising from 1,252 million tons in 2006. A growing profile of steel industry will propel the ceramic fiber market growth in the future years. Increasing use of these fibers in end-user industries for their features such as high thermal conductivity, lightweight, shock resistance, thermal stability, chemical resistance, etc. will have a positive impact on market by 2024.
The positive outlook exhibited by the construction and manufacturing sectors in Asia Pacific in the recent years present brighter aspects for ceramic fiber industry growth by 2024. Modernization of the regional infrastructure will encourage the demand for lightweight insulation materials, which will drive the regional ceramic fiber industry by 2024. China iron & steel sectors have been witnessing a wider acceptance of these fibers to achieve an increased production efficiency. For instance, China’s share in finished steel products grew from 33% in 2006 to 45% in 2016. Considering crude steel production, China, Japan and India secured the top 3 ranks in 2016 with combined production of 1,008.8 million tons. Such trends will lead to substantial growth of ceramic fiber market in Asia Pacific region in the near future.
Global ceramic fiber market is likely to be highly competitive in the next seven years. Industry participants have been engaged in substantial research and development activity to gain the edge over the competitors. Key industry players in this market have been:
• Unifrax I LLC
• NGP Industries Limited
• Morgan Advanced Materials Plc
• Lewco specialty products
• Yeso Insulating Products Co. Ltd.
• Nutec Fibratec
• Rath Inc
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As per the product type, key products in ceramic fiber market include: refractory ceramic fiber (RCF) and alkaline earth silicate (AES) and few others. Alkaline earth silicate segment is likely to observe growth at a faster pace on account of their unique characteristics and lower biopersistence (i.e. the length of time for which the fiber remains in the biological environment). AES ceramic fibers will have substantial demand for heat insulation for kitchen utensils for household appliances. These fibers also hold significant scope for providing fire protection in marine vessels over the forecast timespan.
Considering the form, overall ceramic fiber market segmentation can be viewed as: blanket, module, paper, board and others. Module segment shall exhibit highest growth for their operational ability at various thermal circumstances and their design versatility. Modules will have significant demand from various industries such as: power generation, iron & steel, etc. by 2024.
Based on end-use industry, the global ceramic fiber market has been segmented into oil & gas, aluminum, power generation, iron & steel and others. The increasing need to lessen the operating costs and the energy usage in furnace linings, roofs and walls are expected to fuel the demand for the product in the oil & gas industry.
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