Press release
Global Ceramic Fibre Market To Be Driven By The Rising Steel Industry In The Forecast Period Of 2021-2026
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Historical Market Size (2020): USD 2 billion
Forecast CAGR (2021-2026): 5%
Forecast Market Size (2026): USD 2.6 billion
The market for ceramic fibre is being aided by the extensive use of ceramic fibre in various industries. It has low thermal conductivity and thermal density which enables temperature control which is crucial for furnaces in the steel industry. Ceramic fibre is deployed in steelmaking equipment as a lining material, hence propelling the market growth.
It is also used to enhance the thermal efficiency of equipment while reducing heat loss which is consequently augmenting the market growth. In addition, the rising use of refractory ceramic fibre (RCF) in various applications owing to its heat resistance properties is providing impetus to the ceramic fibre industry.
Industry Definition and Major Segments
Ceramic fibres are the accumulation of various amorphous and other synthetic mineral fibres and can withstand high-temperatures and thermal density. They are used as an insulation material and are primarily produced in the form of boards, bulk fibres, vacuum forms, textile, and paper, among others. Their excellent properties enable their deployment in major industries where high temperature resistance is required.
Based on types, the market is categorised into:
Refractory Ceramic Fibre (RCF)
Alkaline Earth Silicate (AES) Wool
Others
The major product forms of ceramic fibre are:
Blanket
Module
Board Paper
Others
By end users, the market is divided into:
Iron and Steel
Refining and Petrochemical
Power Generation
Aluminium
Others
The major regional markets of ceramic fibre are:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/ceramic-fibre-market
Market Trends
The ceramic fibre industry is being driven by the rising use of ceramic matrix composite in various industries. The high temperature and corrosion resistance properties of ceramic matrix composite are increasing their use in high mechanical and thermal requirements in automotive, aerospace, and energy industries are expected to aid the market growth.
Moreover, the rising demand for clean energy and fuel efficiency in automobiles and aircraft is anticipated to propel the industry growth. As ceramic matrix composites can reduce the overall weight of vehicles and aircraft, they are used as a substitute for nickel alloys for energy optimisation and engine propulsion which is projected to fuel the market growth of ceramic fibre.
Key Market Players
The major players in the market are Morgan Advanced Materials, Unifrax, Luyang Energy-saving Materials Co., Ltd., IBIDEN, HarbisonWalker International, Isolite Insulating Products Co., Ltd., and NUTEC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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