Ceramic Fiber Market To Witness Enhanced Growth Owing To Rising Demand From Iron & Steel And Petrochemical Industries Till 2023 | Million Insights

October 23 12:10 2018

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According to new report available with Million Insights, Increasing demand from energy & power industry, petroleum & petrochemicals, textile, manufacturing and paper & pulp sector are expected to fuel market expansion over the upcoming years. Growing number of application in petroleum & petrochemicals, industry is anticipated to favor the growth of ceramics fiber market in the near future.

The Ceramic Fiber Market is subject to witness a substantial growth due to the soaring demand from the iron & steel industry and petrochemical industry, and increasing application in insulation segment. Ceramic fiber offers high thermal efficiency in comparison with its counterparts are largely used in the high temperature applications. Globally, the ceramic fiber market is predicted to generate massive revenue in the forecast period, providing numerous opportunities for market players to invest for research and development in the ceramic fiber market.

High-end demand for ceramic fibers in various end-user industries is attributed to superior properties of ceramic fibers such as lightweight, compact size, high thermal conductivity, thermal shock resistance, resistance to chemical and adverse atmospheric conditions. These factors are expected to boost market demand for fiber ceramics over the forecast period. Iron & steel industry is considered the largest in consummation of ceramic fibers in high levels for better thermal efficiency. Furthermore, fiber ceramics are widely used in manufacturing of blankets, fibers, paper and boards, thereby propelling market growth, in the recent years.

Full Research Report On Ceramic Fiber Market Analysis available at: https://www.millioninsights.com/industry-reports/ceramic-fiber-market-outlook

Ceramic fibers are categorized into three major segments based on product type such as refractory ceramic fiber (RCF), polycrystalline fiber and low bio-persistent fiber. The refractory ceramic fiber (RCF) is considered as one of the fastest growing segment in the ceramic fiber market with massive revenue generation in the last few years. Low bio-persistent fiber market segment has also witnessed substantial growth, in the recent years, due to stringent rules & regulation regarding excessive use of refractory ceramic fiber (RCF), majorly in European and North American region. However, factors such as environmental hazards due to excessive use and durability are limiting market growth of the refractory ceramic fiber (RCF) segment to large extent.

Increasing demand from energy & power industry, petroleum & petrochemicals, textile, manufacturing and paper & pulp sector are expected to fuel market expansion over the upcoming years. Growing number of application in petroleum & petrochemicals, industry is anticipated to favor the growth of ceramics fiber market in the near future. Some of common application of the ceramics fiber in petroleum & petrochemicals industry include fluid catalytic cracking units, boilers, and fired heaters in the petroleum industry.

The robust growth of the petroleum & petrochemicals industry is attributed massive demand from end-user industries such as construction sector, electronics sector, healthcare industry, transportation sector and consumer goods. This leads to large-scale supply and demand for ceramic fiber products across the globe. The market is broadly categorized into five major segments based on end-user application such as petrochemicals industry, paper & pulp sector, textile industry and energy & power sector. Some of the typical application of the ceramic fibers include high temperature insulation seals and gaskets, protective blankets, curtains, covers, pads and wrapping. The ceramic fibers are also used in expansion joint fabric and safety clothing.

The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in manufacturing synthetic fibers, recent activities in shale exploration, and existence of well-established industrial infrastructure in the region. Asia-Pacific region is predicted to hold major market share in the ceramic fiber market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, ever-growing population, improving standards of living, and significant investment by leading industry players considering potential growth opportunities in the region.

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The key players in the ceramic fiber market are Unifrax Co., IBIDEN Co., Ltd., Moran thermal Ceramics Ltd., Isolite Insulating Products Co., Ltd., Shandong Luyang Share Co., Ltd., Thermost Thermotech Co., Ltd., Rath Inc., Nutec Fibratec S.A., General Insulation Europe Ltd., and Yeso Insulating Products Co., Ltd.

Market Segment:

Key Regions

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• South America

Key Vendors

• request free sample to get a complete list of companies

Key Questions Answered in this Report

• What will the market size be in 2023?

• What are the key factors driving the global ceramic fiber market?

• What are the challenges to market growth?

• Who are the key players in the ceramic fiber market?

• What are the market opportunities and threats faced by the key players?

Related Reports of This Category Available at Million Insights: https://www.millioninsights.com/industry/chemicals-and-materials

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