Increasing Demand for Insulation Materials from Construction Sector to Drive Revenue Growth of Ceramic Fiber Market: Reports and Data

NEW YORK, Dec. 23, 2021 /PRNewswire/ -- Reports and Data has recently published its latest report titled "Ceramic Fiber Market By Type, By Product Form, By End-use, and By Region Forecast to 2028."

According to the latest report, the global ceramic fiber market size was USD 2.06 billion in 2020 and is expected to reach USD 4.50 billion in 2028 and register a revenue CAGR of 10.2% during the forecast period, 2021-2028.

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Drivers, Restraints, and Opportunities

Ceramic fibers are most commonly used in applications that necessitate enhanced insulating properties at very high temperatures. Ceramic fibers are widely used in applications such as fire barrier fabrics, thermal insulation, and composite reinforcement. Ceramic fibers are produced in a wide range of variants such as blankets, bulk fibers, and paper, among others. In addition, composites comprising ceramic fibers are used in a wide range of commercial products such as components of aircraft engines, automotive, aerospace missiles, and wrapping insulations, among others. Increasing scope of application is further boosting demand for ceramic fibers and this is a key factor expected to drive market revenue growth over the forecast period.

Ceramic fibers, also called as high temperature insulation wool, are generally made from equal parts alumina and silica and can range from white to cream in color. Ceramic fiber is available in two forms, such as continuous and discontinuous. Over the recent years, there has been significant advancements in the processing methods and applications of high-performance ceramic fibers. Ceramic fibers significantly enhance physical and mechanical properties of Ceramic Matrix Composites (CMCs) and maintain the unity and integrity of composites. Continuous ceramic fibers and filaments are widely used in high-temperature applications and are preferred over metals due to attributes such as high thermal tolerance and corrosion resistance. Ceramic fibers are used in lightweight units for electrical, thermal, and sound insulation, and also used in ballistic vests, bulletproof jackets, or bullet-resistant vests, and increasing demand for the products is expected to drive market growth over the forecast period.  

However, increasing incidence of skin irritation and respiratory problems caused by prolonged exposure to ceramic fibers, high costs of production of ceramic fibers, and stringent regulations regarding disposal of waste end-of-life products are some key factors expected to restrain market revenue growth to a certain extent over the forecast period. 

To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/ceramic-fiber-market

COVID-19 Impact Analysis

• Social distancing and restrictions disrupted businesses and operations
• Lockdowns caused disruptions in transportation and logistics
• Impacted manufacturing activities and mining operations globally
• Disrupted manufacturing and production lines
• Resulted in shortage of raw materials
• Took a toll on economy of various countries
• Caused sudden and drastic downturn in economic activity
• Disrupted agriculture, fisheries, dairy, and other sectors
• Caused loss of employment and financial crisis
• Supply impacts were further compounded owing to reduced disposable income
• Emergence of variants continue to cause concerns and impact normal routines

Alkaline Earth Silicate Segment to Register Rapid Revenue CAGR:

Alkaline Earth Silicate (AES) segment is expected to register rapid revenue CAGR over the forecast period, attributable to increasing use of alkaline earth silicate in various high temperature applications and as an alternative to refractory ceramic fiber due to low potential of side effects and high performance. Refractory ceramic fibers are categorized as category 2 carcinogen in the EU, and this has limited use in certain applications in countries in the region.

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Refining and Petrochemical Segment Revenue to Support Market Growth:

Refining and petrochemical segment to account for significantly large revenue share over the forecast period, attributable to increasing demand for ceramic fibers in refining and petrochemical sector owing to growing focus on reducing operational costs, enhancing production efficiency, and minimizing energy consumption.

North America to Account for Largest Revenue Share:

North America is expected to account for largest revenue share over the forecast period, attributable to increasing shale gas exploration activities, growing demand for ceramic fibers from iron and steel industries, and robust presence of key market players in the region.

Asia Pacific to Register Robust Revenue CAGR:

Asia Pacific market revenue is expected to expand at a robust revenue CAGR over the forecast period owing to rapid progress of construction industry, fast-paced industrialization, growing demand for iron and stainless steel products for various end-use applications, and increasing number of construction and development activities in countries in the region.

Major Companies in the Market Include:

• Morgan Advanced Materials Plc.
• Unifrax LLC
• Luyang Energy Savings Material Co., Ltd.
• Ibiden Co., Ltd.
• Harbisonwalker International Inc.
• Isolite Insulating Product Co. Ltd.
• Nutec Fibratec
• Yeso Insulating Product Co. Ltd.
• Rath Group
• FibreCast Inc.

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Market Segmentation:

For the purpose of this report, Reports and Data has segmented the ceramic fiber market based on type, product form, end-use, and region:

Type Outlook (Revenue, USD Billion; 2018-2028)

• Refractory Ceramic Fiber (RCF)
• Alkaline Earth Silicate (AES) Wool
• Others

Product Form Outlook (Revenue, USD Billion; 2018-2028)

• Blanket
• Module
• Board
• Paper
• Others

End-Use Outlook (Revenue, USD Billion; 2018-2028)

• Metals
• Refining & Petrochemical
• Power Generation
• Others

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Regional Outlook (Revenue, USD Billion; 2018-2028)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Sweden
• BENELUX
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• U.A.E.
• South Africa
• Israel
• Rest of MEA

Some points on how the report benefits stakeholders:

• The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
• Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
• The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
• The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
• Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
• The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

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