With the emergence and long-term Impact of COVID-19, Global Ceramic Fiber Market to reach USD 3.76 Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Ceramic Fiber Market points towards a potential rise to USD 3.76 Billion by 2030. Ceramic fibers are small filaments or strings made of a ceramic material, typically alumina and silica, that are used in lightweight units for electrical, thermal, and acoustic insulation. Ceramic fiber is an insulating material composed of alumina and silica that is held together by an inorganic binder. ceramic fiber market is expanding because of factors such as high thermal efficiency relative to replacements and increased use in high-temperature applications.
Ceramic fiber’s increasing use in end-use industries is predicted to drive the market over the next six years due to lightweight, high thermal conductivity, thermal shock resistance, high-temperature stability, and strong chemical resistance. Because of its outstanding features in high-temperature Applications, Ceramic Fiber insulation is highly valued due to its exceptional performance in high-temperature applications.
Geographically, the global Ceramic Fiber market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia pacific is dominating owing to Manufacturing spending in the region has increased dramatically in recent years and is expected to continue at the highest forecasted growth rate. Furthermore, the presence of small and large-scale firms in India, China, Japan, and Thailand is boosting the ceramic fiber market in APAC. China dominates the global petrochemicals market, driving demand for ceramic fiber. Ceramic fibers are also widely utilized in the paper and pulp, textile, energy, and power industries, among others.
North American Ceramic Fiber Market is expected to grow fastest during the forecast period. This is attributable to increased ceramic fiber demand from the iron and steel and petrochemical industries, the presence of major ceramic fiber producers, and consistent improvements in the aerospace industry.
The global Ceramic Fiber market is highly competitive owing to the presence of several key players such as Morgan Advanced Materials plc Alkegen Corporation IBIDEN Co., Ltd. HarbisonWalker International Inc. Thermost Thermotech Co. Ltd. YESO Insulating Products Co. Ltd. Isolite Insulating Products Co. Ltd. FiberCast Inc. NUTEC Group Luyang Energy-saving Materials Co., Ltd., and others.
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Key findings of the study suggest:
- Global Ceramic Fiber Market is anticipated to grow with a healthy growth rate of more than 8.2% over the forecast period 2023-2030.
- In the Type segment, RCF emerged out as the leading market segment in 2022.
- Asia pacific is anticipated to drive regional growth owing to the Manufacturing spending in the region has increased dramatically in recent years and is expected to continue at the highest forecasted growth rate. Furthermore, the presence of small and large-scale firms in India, China, Japan, and Thailand is boosting the ceramic fiber market in APAC.
- North American is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Type:
- RCF
- AES Wool
- Others
By Product form:
- Blanket
- Module
- Board
- Paper
- Others
By End-Use Industry:
- Refining & Petrochemicals
- Metals
- Power Generation
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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