Press release
Ceramic Fiber MarketSize, Opportunities, Share, Top Companies, Growth, Regional Trends, Key Segments, Graph and Forecast to 2028
Browse 272 market data Tables and 56 Figures spread through 243 Pages and in-depth TOC on "Ceramic Fiber Market"
In terms of value, the ceramic fiber market [https://www.marketsandmarkets.com/Market-Reports/ceramic-fibers-384.html] is estimated to grow from USD 2.0 billion in 2022 to USD 3.2 billion by 2028, at a CAGR of 8.2%. Stricter energy efficiency regulations and environmental concerns have prompted industries to adopt insulation materials like ceramic fiber to reduce energy consumption and greenhouse gas emissions.
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The key players in this market are Morgan Advanced Materials plc (UK), Alkegen Corporation (US), IBIDEN Co., Ltd. (Japan), Isolite Insulating Products Co., Ltd. (Japan), HarbisonWalker International (US), Nutec FibraTec (Mexico), and RATH Group (Austria). These companies are known for developing a wide variety of ceramic fiber materials used in several industrial applications, such as high-temperature sealing, refractory linings, and thermal insulation. Manufacturers in the ceramic fiber industry frequently use a variety of tactics such as mergers & acquisitions, joint ventures, and launching new products to stay competitive, handle market developments, and satisfy their clients' changing needs. These players may explore opportunities to expand their presence into new geographic markets. This could involve establishing partnerships, distribution networks, or production facilities in regions with high demand for ceramic fiber products.
Alkegen Corporation is a major manufacturer in ceramic fiber market. The company is a global leader in serving mission-critical systems dor battery technologies, electric vehicles, filtration media, and specialty insulation materials. After the acquisition of Lydall in 2022, Unifrax changed its name to Alkegen. Two of the world's leading specialty material companies have come together to represent a new innovation driven organization. In January 2021, company launched Fiberfrax Durablanket LT and Durablanket LT Z Blankets. It offers the same benefits as previous Fiberfrax blankets, now with physical properties enhanced to improve thermal performance, improved handling, and increased strength. These needled blankets combine innovative proprietary technology with proven performance to create high-performance RCF blanket products.
Morgan Advanced Materials plc works on engineering high-performance materials and specialized products that offer reliable solutions to technical challenges. The company strives to provide its customers innovative and differentiated products through extensive R&D measures, technical expertise, and quality processes. Morgan also focuses on enhancing its operational efficiencies by developing innovative products and implementing operational excellence programs to improve its productivity and quality across all its sites. In May 2023, Morgan Advanced Materials announced their commercial startup of 50+% Yixing factory expansion. Yixing plant manufacturers TJM Insulation Firebricks (IFB), this expansion will help the company to fulfill customer needs from China and Asia in petrochemicals, iron & steel, aluminum and cathode materials.
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Major ceramic fiber suppliers and manufacturers based in countries such as China played a pivotal role in driving the growth of the regional market. China, a key player in the ceramic fiber market, significantly influenced the Asia Pacific region's leadership position in this sector. Furthermore, the burgeoning construction industry in Asia Pacific has fueled the demand for ceramic fiber, particularly for thermal insulation and fire protection purposes, aiming to construct sustainable and energy-efficient buildings.
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