August 28, 2020
According to the research report titled ‘Asia Pacific Ceramic Fiber Market Size By Product, By Form, By Application, By End-user Industry, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, Asia-Pacific ceramic fiber market is set to register high growth rate during 2020-2026.
Increasing popularity of ceramic fiber as an effective insulation solution is a major factor augmenting the product demand across Asia-Pacific. For those unfamiliar, ceramic fiber possesses superior heat resistance properties and is made up of aluminum silicate, an ingredient that comprises of molten glass and polycrystalline fibers. Growing usage of ceramic fiber across various manufacturing processes and operations is further aiding the market expansion.
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As per form type, the report cites that paper segment is likely to witness a y-o-y growth rate of 5.8% CAGR through 2026. Paper is not only a lightweight refractory material but is also processed using alumina-silica wools which offer high purity. The product is widely adopted in applications which require operations in high temperature.
Citing the end-user landscape, Asia Pacific ceramic fiber market share from aluminum segment is predicted to expand with a CAGR of 6.8% between 2020 and 2026. Aluminum sector uses AES and RCF ceramic fibers for high temperature applications. Growing demand for aluminum from aerospace industry and rapid expansion of the automobile industry are fueling the segmental share.
Alternatively, CPI (chemical processing industry) segment is reckoned to experience a 6.3% CAGR during 2020-2026. Rising adoption of ceramic fiber for efficient thermal management, filtration applications, and fire protection solutions is facilitating the business scenario in Asia-Pacific.
According to the report, the ceramics end-use segment is expected to record 5.8% CAGR through 2026, owing to high dependency on insulation materials for efficiency energy processes. These insulations with high temperature resistance properties are widely used in furnace linings, motors, pipes, refractory linings and kilns.
Simond Fibertech Limited, NGP Industries Limited, PAR Group Ltd., Lewco Specialty Products Inc., Yeso Insulating Products Co. Ltd., Shandong Luyang Share Co. Ltd., Isolite Insulating Products Co. Ltd., Rath Inc., Ibiden Co. Ltd., Morgan Advanced Materials plc, and Unifrax I LLC are the key competitors in Asia-Pacific ceramic fiber market.