The high demand for Ceramic Fiber Market can be attributed to the superior properties exhibited such as lightweight, thermal stability, excellent thermal insulating performance, high resistance to thermal shock, and low thermal conductivity.
Luton, Bedfordshire, United Kingdom, Sept. 26, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Ceramic Fiber Market.
The global Ceramic Fiber Market held a market value of USD 1.91 billion in 2021 and is projected to reach USD 4.46 billion by 2029. The market is anticipated to grow at a CAGR of 9.9% from 2022 to 2029.
Ceramic fiber is lightweight, has a high compressive strength, and enhances thermal performance without requiring vacuum, it is utilized in aeroplanes. It is also known as high-temperature insulating wool. Only in high-temperature industrial applications and other activities are they used. Ceramic fibers are used in a variety of industries such as aluminum, petrochemicals, power generation, iron and steel, ceramics, and so on. Aluminum silicate fiber, also known as refractory ceramic fiber, is the first type of ceramic fiber.
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In 2022: Sappi has pledged to contribute to the solution and is attempting to decarbonize its business practices. As the next step in its long-term commitment to preserving the planet and promoting sustainable production on a global scale, it will stop using coal at its German facility in Stockstadt. To achieve this, Boiler 9, the mill's current coal-fired boiler, will be demolished, and the mill will run entirely on natural gas and renewable biomass.
In September 2021, Enexor BioEnergy announced its partnership with the University of Tennessee. This partnership will help Enexor to test high-temperature ceramic filter technology and gather information about energy and cost saving characteristics of ceramic fibers.
Asia Pacific shares 28% of total market. After that, Rest of the World 72% of global market respectively.
The Asia Pacific region is dominating the market of ceramic fibers due to intensive R&D, increasing infrastructural development activities, and increasing awareness created by regulatory organizations, such as EPA and REACH, for environmental protection. The ceramic fiber market in the region will benefit greatly as a result of this. The ceramic fiber market in the region has a lot of potential because of the metal, refining & petrochemical, and power generation industries.
Aerospace industry holds the largest market share owing to growing adoption of ceramic fiber.
Ceramic fibers are employed in the aerospace sector because of their lightweight, high-temperature resistance, electrical insulation, corrosion resistance, chemical stability, wear resistance, and vibration resistance. Ceramic-fiber reinforced composites are employed in the manufacturing of engine parts such as turbine blends, compressors, and exhaust buckets, as well as aerospace rockets.
Iron and steel industries hold the highest market size owing to its higher thermal performance in comparison with other materials.
Ceramic fiber is increasingly being used as a refractory lining for heat treatment and preheating furnaces in the iron and steel industries. This is owing to the fact that it has a higher heat efficiency per unit thickness than insulating fire bricks. Ceramic fiber is lightweight and has low conductivity, which helps to conserve energy by preventing heat from escaping from furnaces and kilns. It can help in saving up to 20% of energy, lowering overall production costs.
USD 1.91 billion in 2021 USD 4.46 billion by 2029
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Material Type, End-Use Industry and Region
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Morgan Advanced Materials plc, Unifrax LLC, Harbisonwalker International Inc., Nutec Fibratec, Rath Group, FibreCast Inc., Double Egret Thermal Insulation, Luyang Energy Savings Material Co., Ltd., Ibiden Co., Ltd., Isolite Insulating Product Co. Ltd. and Yeso Insulating Product Co., Ltd.
The refining and petrochemical industry has the largest market share and is predicted to grow the fastest over the projection period.
The growing demand for ceramic fiber in the refining and petrochemical industries is driven by the need to reduce operating costs, improve dependability, and reduce energy consumption in furnace linings.
Ceramic fiber products have opportunities in alternative energy also, due to their high-temperature resistance. Fuel cells, solar, geothermal, biofuels, and waste incinerators are examples of alternative energy applications.
Some Major Findings of the Ceramic fiber Market:
Innovation is one of the most important and key strategies as it has to be for any ceramic fiber market. However, companies in the Ceramic Fiber Market have also opted for and successfully driven inorganic growth strategies like mergers & acquisitions and so on.
Key players in global ceramic fiber market are Morgan Advanced Materials plc, Unifrax LLC, Harbisonwalker International Inc., Nutec Fibratec, Rath Group, FibreCast Inc., Double Egret Thermal Insulation, Luyang Energy Savings Material Co., Ltd., Ibiden Co., Ltd., Isolite Insulating Product Co. Ltd., Yeso Insulating Product Co., Ltd. and others.
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https://exactitudeconsultancy.com/reports/5653/ceramic-fiber-market
Driver: Increasing use of ceramic fiber in petrochemical industry
Ceramic fiber is widely used in the petrochemical industry for filtration, fire protection, and thermal management solutions, among other applications. One of the major factors driving Ceramic Fiber Market growth is the increasing use of ceramic fiber in the petrochemical industry. It is used in the iron and steel industries as a refractory liner for heating furnaces during thermal processing. Ceramic fiber materials help to prevent heat leaking from kilns and furnaces, lowering overall production costs. Ceramic fiber filtration technology is also used to reduce pollution in the environment. Moreover, increasing focus on research and development activities, rising application of ceramic fiber in the manufacturing of aerospace components, and rising environmental concerns are some other key factors expected to continue to drive Ceramic Fiber Market revenue growth going ahead.
Restraint: Side-effects of ceramic fiber
Ceramic fiber materials are composed of inorganic compounds known as carcinogens, such as alumina or Al2O3 and silica or Si2O3. Prolonged exposure to ceramic fiber may cause eye and skin irritation, as well as respiratory problems such as chronic cough, dyspnea, and wheezing. This factor is expected to limit the use of ceramic fiber materials and have a negative impact on Ceramic Fiber Market growth. Furthermore, the high cost of production and the presence of stringent regulations regarding the use of petrochemical-based products due to negative environmental effects are key factors that are expected to limit revenue growth to some extent.
Opportunities: Increasing demand from various applications in aerospace and alternative energy industry
Ceramic fiber products, due to their high-temperature resistance, are being used in new applications, such as aerospace and alternative energy. The alternative energy applications include fuel cells, solar, geothermal, biofuels, and waste incinerators. Ceramic fiber, which is very strong and lightweight, is slowly revolutionizing the aerospace industry.
Key Insights from Primary Research
As per the analysis, the Ceramic fiber market is likely to grow above a CAGR of around 9.9% between 2022 and 2029.
The Ceramic fiber market size was worth around USD 1.91 billion in 2021 and is estimated to hit approximately USD 4.46 billion by 2029. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
By process of manufacturing, the natural Ceramic fiber category dominated the market in 2022.
By application, Ceramic fiber for the textile segment dominated the market in 2022.
On the basis of region, The Asia Pacific dominated the Ceramic fiber market in 2022.
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