Reports And Data
Increasing use of ceramic fiber in refining, petrochemical & power generation industries are among some of major factors driving global market revenue growth
NEW YORK CITY, NY, UNITED STATES, December 5, 2021 /EINPresswire.com/ — The global ceramic fiber market size is expected to reach USD 2.06 Billion in 2020 and register a CAGR of 10.2% over the forecast period, according to the latest report by Reports and Data. Some of the key factors driving global ceramic fiber market revenue growth include increasing focus on research, rising use of ceramic fiber in refining, petrochemical, and power generation industries, increase in development activities to create more advanced ceramic fibers, and rapid adoption of ceramic fibers in the construction industry. Ceramic fiber is an odorless, lightweight, white substance with low thermal conductivity, corrosion resistance, chemical resistance, and heat-resistance properties.
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Some commonly used ceramic fibers are Refractory Ceramic Fiber (RCF), Alkaline Earth Silicate (AES) Wool, and others. Refractory Ceramic Fibers are inorganic, amorphous, aluminosilicate fibers, belonging to a class of materials primarily known as man-made vitreous fibers. RCF wools are commonly used in construction of industrial furnace and thermal-processing installations. RCF materials are classified as potential carcinogenic substance by different agencies and manufacturers. RCF segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing construction activities, increasing production of iron, steel, and aluminum, and rising demand for more durable and lightweight materials from various end-use industries and verticals.
Some Key Highlights From the Report:
In April 2020, The Korea Institute of Carbon Convergence Technology announced its partnership with DACC Carbon. This partnership helped the institute to conduct research and development activity on ultra-high temperature ceramic fibers and composite materials.
In April 2019, Zibo Meiyuan Thermal Insulation Material launched ultrathin ceramic fiber boards with a thickness of 3mm and 4mm. These boards are used to manufacture light-duty industrial combustion chamber, heat shields & thermal barriers, refractory lining, domestic appliances, industrial heat processing equipment, and others.
Refining & petrochemical segment accounted for majority revenue share in the global market in 2020. This can be attributed to increasing demand for ceramic fibers in refining & petrochemical sector due to increasing requirements to minimize operation costs, enhance efficiency and reduce consumption of energy.
Asia Pacific is expected to register a relatively faster revenue CAGR throughout the forecast period. This can be attributed to rapid industrialization, increasing construction activities, and rising demand for iron and stainless-steel products for different industrial uses.
Major companies in the market report 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, and FibreCast Inc.
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For the purpose of this report, Reports and Data has segmented the global 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
Product Form Outlook (Revenue, USD Billion; 2018-2028)
End-Use Outlook (Revenue, USD Billion; 2018-2028)
Refining & Petrochemical
Regional Outlook (Revenue, USD Billion; 2018-2028)
Middle East & Africa
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