December 06, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Ceramic Fiber Market to 2027 - Global Analysis and Forecasts by Type (Refractory Ceramic Fiber (RCF), Alkaline Earth Silicate (AES) Wool, Others), By Product Form (Blanket, Module, Board, Paper, Others), By End Use Industry (Iron and Steel, Refining and Petrochemical, Power Generation, Aluminum, Others)’, the worldwide ceramic fiber market is anticipate to accumulate US $3146.6 million by the year 2027.
Ceramic fiber is a small-dimension thread, which is primarily manufactured from silica and alumina in equal proportions. Few non-oxide specialty fibers like silicon carbide, boron nitride, and silicon nitride are also manufactured. The product is utilized in lightweight units for providing sound, thermal, and electrical insulation.
Increasing demand from several end-use industries is responsible in driving the growth of ceramic fiber market. Its application as thermal insulator is key factor boosting the market demand. Ceramic fiber is nearly 40% extra effective in comparison to good quality insulation brick and twice better than asbestos products.
The report cites that the global ceramic fiber market was worth US $1547.6 million in 2018 and is projected to expand with a CAGR of 8.4% over the analysis period, hence reaching US $3146.6 million by the year 2027.
The global ceramic fiber market is examined on the basis of type, end-use industry and geographical outlook. Based on type, the market is segmented as refractory ceramic fiber, alkaline earth silicate wool, and others, wherein, refractory ceramic fiber held the largest segmental share, owing to its numerous beneficial properties such as durability, bio-persistence, low thermal conductivity, light weight, corrosion resistance, and high thermal shock resistance.
Considering end-use industry, the market is fragmented as refining & petrochemical, power generation, aluminum, iron & steel, and others.
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The report cited that Asia Pacific ceramic fiber market is anticipated to witness substantial growth over the forecast period, on account of booming petrochemical industry across China. Moreover, expanding industrialization, coupled with prevalence of small & large scale companies will foster regional market growth.
The prominent companies in ceramic fiber market include Unifrax LLC, Great Lakes Textiles, Rath-Group, Harbison Walker International, Pyrotek Inc., Isolite Insulating Products Co. Ltd., Nutec Group, Lewco Specialty Products Inc., Morgan Advanced Materials, and Luyang Energy-Saving Materials Co. Ltd.
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