Silica Fabric Market- POsitive Long Term Growth Outlook 2020–2030

Silica fabric is produced by reacting silicon dioxide (purity >94%) with silica glass yarns. Silica fabric is primarily used as a high temperature insulator in a wide range of applications including bespoke straight connectors, turbine insulation, welding blankets, expansion joints, and furnace linings. Silica fabric offers enhanced resistance against heat, making it an ideal heat shield. It helps prevent components from overheating.

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Silica fabric offers excellent chemical resistance against hydrofluoric acid, phosphor acid, hydrochloric acid, magnesium, sodium, and silicon. Additionally, it has low thermal conductivity and low electrical conductivity. Therefore, it is suitable for electrical equipment production. Silica fabric is also fungi-proof and resistant to other attacking microorganisms.

Insulation & High-heat Resistivity of Silica Fabric to Drive Market

Silica fabric is an excellent insulating product, with temperature resistance up to 1000°C

According to OSHA, nearly 85 deaths took place in the oil & gas industry between 2005 and 2015, due to fire accidents. According to a report published by the National Fire Protection Association, 3,700 civilians died due to fire across the U.S in 2019. The U.S. local fire departments responded to approximately 1.3 million fire accidents in the same year, with estimated property damage of US$ 14.8 Bn.

Increase in industrialization due to rapid urbanization in developing countries has led to an increase in safety concerns. This is boosting the demand for fire blankets. Ability of silica fabric to provide insulation against fire and chemicals is projected to drive its demand by the end of the forecast period.

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Impact of COVID-19 on Global Silica Fabric Market

Demand for silica fabric is expected to be hampered due to supply-chain disruption and closure of production sites worldwide. The COVID-19 pandemic has adversely affected chemical and oil & gas industries due to decline in demand for end products. This is estimated to hamper the consumption of silica fabric in the near future.

Asia Pacific to Hold Major Share of Global Silica Fabric Market

In terms of region, the global silica fabric market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

In terms of consumption, the market in Asia Pacific is projected hold major share of the silica fabric market during the forecast period. Increase in industrialization and expansion of power generation sector across the region is expected to boost the demand for fire-fighting products such as blankets and heat shields. This, in turn, is likely to propel the consumption of silica fabric due to its excellent flame and chemical resistivity.

North America is anticipated to constitute vital share of the global silica fabric market during the forecast period. The major risk of potential damage to health and property is projected to drive the market in North America during the forecast period.

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Manufacturers of silica fabric in Europe are primarily engaged in making improvements in the manufacturing process of silica fabric and launching new products with enhanced qualities

Middle East & Africa is the major hub of the oil & gas industry. The region is prone to fire risks. This is anticipated to drive the demand for silica fabric in Middle East & Africa during the forecast period.

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Key Players Operating in Market

The global silica fabric market is fragmented, with the presence of large numbers of global as well as local players. Players operating in the global silica fabric market are engaged in research and development activities, strategic alliances, and mergers and acquisitions to gain higher share.

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This release was published on openPR.