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Ceramic Fiber Market Expected To Witness Enhanced Growth Owing To Enhanced Applications in Chemical, Steel, Aerospace and Defense Industries Till 2022 | Million Insights
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The extensive applications of ceramic fiber in the aerospace sector are another trend bolstering the ceramic fiber market’s growth prospects. Ceramic fiber is lightweight, has high compressive strength and helps in the optimization of thermal performance without the use of a vacuum. These features make ceramic fiber indispensable in the aerospace industry and will lead to its augmented adoption in the coming years. Ceramic fiber market is expected to witness substantial growth owing to increasing use in the iron & steel and petrochemical industry for insulation purpose.
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High thermal efficiency compared to substitutes and its rising use in high temperature applications are key market drivers responsible for the growth of ceramic fiber market. Growing use of ceramic fibers in end-use industries owing to characteristics such as lightweight, high thermal conductivity, thermal shock resistance, high temperature stability and high chemical resistance is expected to boost the ceramic fiber market in the coming years.
Iron & steel are the largest consumers of ceramic fibers owing to high levels of thermal efficiency. In addition, growing use in ceramic industries as blankets, fibers, paper and boards is expected to propel the growth of ceramic fiber market during the forecast period. Based on type, the ceramic fiber market is segmented into refractory ceramic fiber (RCF), low bio-persistent fiber, polycrystalline fiber, and so on. Based on end product, the ceramic fiber market is segmented into bulk, blanket, board, paper, module, and textile and so on. Based on end-use industries, the ceramic fiber market is segmented into petrochemical industry, iron & steel industry, aluminum industry, ceramics industry, power generation industry, aerospace & defence industry and so on.
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The segment “petrochemical industry” dominated the market and accounted for more than 38% of the market share. Temperature insulation materials, like ceramic fiber support in conserving energy and reducing operational costs. Moreover, the evolution of coal gasification and shale gas production is also likely to increase the overall consumption of ceramic fibers in the petrochemical industry.
Based on geography, the ceramic fiber industry is segmented into North America, Asia Pacific, Europe, Latin America and Middle East & Africa. The Asia Pacific region led the ceramic fiber industry and is expected to grow in the coming years. Factors such as the ongoing and upcoming activities in the energy, construction, automotive and industrial sectors in countries like India and China and the easy availability of low-cost ceramic fibers are likely to drive the ceramic fiber industry growth in Asia Pacific.
The key players of ceramic fiber industry are Morgan Thermal Ceramics, Unifrax Corporation, IBIDEN Co. Ltd., Isolite Insulating Products Co. Ltd., Unifrax Corporation, General Insulation Europe Ltd., Luyang Energy-Saving Materials, Nutratec Fibratec, Thermost Thermotech Co. Ltd., Rath Incorporated, and Yeso Insulating Products Co. Ltd.
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