Report : Ceramic Fiber Market to 2027 - Global Analysis and Forecasts by Type (Refractory Ceramic Fiber (RCF), Alkaline Earth Silicate (AES) Wool, Others), By Product Form (Blanket, Module, Board, Paper, Others), By End Use Industry (Iron and Steel, Refining and Petrochemical, Power Generation, Aluminum, Others)
Growing demand from various end-use industries is projected to escalate the ceramic fiber market at a CAGR of 8.4%
Latest market study on “Global Ceramic Fiber Market to 2027 - Analysis and Forecasts by Type (Refractory Ceramic Fiber (RCF), Alkaline Earth Silicate (AES) Wool, Others), By Product Form (Blanket, Module, Board, Paper, Others), By End Use Industry (Iron and Steel, Refining and Petrochemical, Power Generation, Aluminum, Others), and Geography”, The global ceramic fiber market is accounted to US$ 1,547.6 Mn in 2018 and is expected to grow at a CAGR of 8.4% during the forecast period 2019 - 2027, to account to US$ 3,146.6 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Based on type, the ceramic fiber market has been segmented into refractory ceramic fiber (RCF), alkaline earth silicate (AES) wool, others. The refractory ceramic fiber segment dominated the global ceramic fiber market. Refractory ceramic fiber is a class of fibers, which is known as man-made vitreous fibers. It is highly preferred due to its insulating qualities. The refractory ceramic fiber is also known as alumino-silicate glass wool. Refractory ceramic fiber is more bio-persistent and durable than other synthetic vitreous fibers. It provides several desirable properties such as low heat storage, lightweight, low thermal conductivity, corrosion resistance, and high thermal shock resistance. Due to several advantages, the demand for refractory ceramic fiber is increasing for application in industrial equipment like kilns and furnaces, automotive exhaust systems, etc. is anticipated to be one of the major drivers for the growth of ceramic fiber market.
The ceramic fiber is used as a thermal insulator in the petrochemical industries that have created an upsurge for the ceramic fiber market. Owing to this, there have been other characteristics of the ceramic fiber that have been creating an increasing demand from end-use industries such as iron and steel, refining and petrochemical, power generation, aluminum, and many others. The low thermal conductivity of ceramic fibers allows the construction of thinner linings that has the same thermal efficiency as that of conventional refractories. The ceramic fiber is approximately 40% more effective as compared to good quality insulation brick and twice better than asbestos products. It has been noted that the insulation property of ceramic fiber is better than that of calcium silicate products. The lightweight of ceramic fiber is another essential feature that weighs about one-tenth as compared to insulating brick and one third than that of calcium silicate or asbestos boards. For new constructions, the structural supports can be reduced to approximately 40% with the help of ceramic fibers. Another important feature that has been responsible for the increasing demand from the end-users is lower heat storage. Due to its lower density, ceramic fiber absorbs less heat due to which the furnaces can be heated and cooled at much faster rates.
The market for global ceramic fiber is concentrated with some very well-established players. Some of the key players in the global ceramic fiber market include Great Lakes Textiles, HarbisonWalker International, Inc., Isolite Insulating Products Co., Ltd., Lewco Specialty Products, Inc., Luyang Energy-saving Materials Co., Ltd, Morgan Advanced Materials, Nutec Group, Pyrotek Inc., Rath-Group, and Unifrax LLC, among others.
Global Ceramic Fiber Market - By Region Breakdown, 2018