Ceramic Fiber Market worth $3.2 billion by 2028

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17 Aug, 2023, 04:00 ET

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CHICAGO, Aug. 17, 2023 /PRNewswire/ -- The report "Ceramic Fiber Market by Type (RCF, AES Wool), Product Form (Blanket, Module, Board, Paper), End-Use Industry (Refining & Petrochemical, Metals, Power Generation) and Region(Asia Pacific, North America, Europe, Middle East & Africa) - Global Forecast to 2028", size was USD 2.0 billion in 2022 and is projected to reach USD 3.2 billion by 2028, at a CAGR of 8.2% from 2023 to 2028.

The demand for ceramic fiber rises as nations industrialize and enjoy economic prosperity. Ceramic fiber is used in high-temperature applications by industries including petrochemicals, steel, aluminum, glass, and power generation. Ceramic fiber's excellent fire resistance properties have made it a popular choice for fireproofing and insulation in buildings and industrial settings.

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Based on product form, blanket was the largest product form of the ceramic fiber market, in terms of value, in 2022

Ceramic fiber blankets are versatile and can be easily cut, shaped, and installed, making them suitable for a wide range of high-temperature insulation applications. These blankets offer exceptional thermal insulation, which makes them perfect for use in boiler walls, furnace linings, kiln insulation and other high-temperature machinery. Ceramic fiber blankets are the best choice for applications requiring quick temperature changes since they have low thermal mass and heat up and cool down quickly.

Refining & Petrochemical is estimated to be the largest end-use industry of the ceramic fiber, in terms of value, during the forecast period.

Ceramic fiber is ideally suited for lining storage tanks, pipelines, and other machinery that comes into contact with corrosive petrochemical substances because of its strong resistance to corrosive chemicals. Rapid temperature variations are a common feature of petrochemical operations, and these shifts can subject traditional materials to thermal shock. Ceramic fiber is more resilient and dependable under such challenging operating conditions thanks to its low thermal mass and resilience to thermal shock.

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Asia Pacific is estimated to be the largest market for the ceramic fiber market, in terms of value, during the forecast period.

Large ceramic fiber suppliers and manufacturers in nations like China contributed to the expansion of the regional market. China, a significant player in the ceramic fiber market, was essential to the Asia Pacific region's overall domination of this sector. Additionally, the Asia Pacific region's growing construction industry has expanded the use of ceramic fiber for thermal insulation and fire protection with an emphasis on creating sustainable and energy-efficient structures.

The key players profiled in the report include Morgan Advanced Materials plc (UK), Alkegen Corporation (US), IBIDEN Co., Ltd. (Japan), Isolite Insulating Products Co., Ltd. (Japan), HarbisonWalker International (US), Nutec FibraTec (Mexico), and RATH Group (Austria).

Browse Adjacent Market: Fibers and Composites Market Research Reports & Consulting

Related Reports:

Advanced Ceramics Market - Global Forecast to 2028

High-Temperature Insulation Materials Market - Global Forecast to 2024

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