March 17, 2023 05:18 ET | Source: Facts & Factors Facts & Factors
NEW YORK, United States, March 17, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Ceramic Fiber Market Size, Share, Growth Analysis Report By Type (RCF, AES Wool, Others), By Product Form (Blanket, Module, Board, Paper, Other), By End-use Industry (Refining & Petrochemical, Metals, Power Generation, Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database. Rock Wool Blanket
“According to the latest research study, the demand of global ceramic fiber market size & share was valued at approximately USD 1982.50 million in 2021. The market is expected to grow above a CAGR of 9.50% and is anticipated to reach over USD 3417.41 million by 2028.”
The report analyzes the ceramic fiber market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the global ceramic fiber market.
Ceramic fibers are high-temperature fibers created for use in several commercial and industrial applications. Metal oxides such as alumina, silica, and others are used to create these fibers. This fiber is white & odorless and can be used in high-temperature applications. Ceramic fibers are expected to have substantial growth during the forecasted period due to their use for insulation in the iron & steel industry and the petrochemical industry. Its key characteristics include lightweight, strong chemical resistance, high thermal conductivity, thermal shock resistance, and increased temperature stability. The market for ceramic fibers is growing as a result of ceramic fibers' ability to provide thermal protection, which makes them suitable for several industries, including iron & steel and oil & gas.
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One of the key factors propelling the global ceramic fiber market is the rising demand for ceramic fiber in the petrochemical and refining sectors. Petrochemicals are essential for producing synthetic materials such as paints, textiles, solvents, detergents, rubber, plastics, and dyes, which power the global market. For boilers and heating centers, catalyst bases and filter parts for cleaning hot gases, boiler header insulation, high-temperature filtration of gases and liquids, reactors & cat crackers, and burner insulation, ceramic fiber is widely employed in the petrochemical industry.
Another significant factor favorably affecting the market growth is the increased demand for stainless steel with the expansion of the aviation industry and rail transportation. The use of petrochemicals and their derivative products for environmental protection is subject to strict regulations, impeding the market's expansion.
Ceramic Fiber Market: Segmentation Analysis
The global ceramic fiber market has been segmented into type, product, end-use industry, and region.
The market is divided into categories based on type: RCF, AES wool, and others. In 2021, the AES category dominated the market. The market is divided into a blanket, module, board, paper, and others based on product. The module sector is anticipated to increase fastest during the forecast period.
The market is divided into iron & steel, refining & petrochemical, power generation, aluminum, and others based on the end-use industry. The refining & petrochemical segment dominated the market in 2021. Ceramic materials are in high demand due to their exceptional qualities, including their lightweight, thermal stability, strong resistance to thermal shock, outstanding thermal insulating performance, and low thermal conductivity. These qualities are in addition to its low heat storage, high corrosion resistance, great sound absorption, chemical resistance, and chemical stability.
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The global ceramic fiber market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The Asia Pacific dominated the global market for ceramic fiber in 2021 due to rapid industrialization, particularly in China, India, and Indonesia. The Chinese iron and steel industries are also adopting ceramic fibers more frequently to increase manufacturing efficiency.
However, Asia-Pacific currently dominates the ceramic fiber market due to the rising demand for environmentally friendly products. During the anticipated term, growing infrastructure projects and intensifying environmental protection efforts will also help the region's ceramic fiber market thrive.
The report contains qualitative and quantitative research on the global ceramic fiber market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global ceramic fiber market include;
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The global ceramic fiber market is segmented as follows:
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