VANCOUVER, B.C., Sep. 29, 2021 /PRNewswire/ -- The global ceramic fiber market size reached USD 1.92 Billion in 2020 and is expected to register a significantly rapid revenue CAGR during the forecast period, according to latest analysis by Emergen Research.
Drivers:
Increasing need to save energy and reduce production costs among end-user industries are some key factors expected to drive demand for ceramic fiber to a significant extent over the forecast period. Ceramic fiber is widely used as a refractory liner for thermal processing and heating furnaces in iron and steel industries. This is primarily because it has a higher energy conductivity per unit thickness than insulating fire bricks. Ceramic fiber, which is lightweight yet low conductive, aids in energy conservation by preventing heat from leaking from furnaces and kilns. It can save up to 20% of the energy used, thereby reducing overall production costs. Increasing demand for stainless steel due to rapid growth in aviation and rail transportation sectors is another factor boosting revenue growth of the market.
Click Here to Access Free sample PDF Copy of the Report@ https://www.emergenresearch.com/request-sample/808
Restraints:
Stringent regulations governing the use of hazardous materials are expected to remain a primary restraint to market growth. The hazardous and adverse impacts of various materials, products, and byproducts on the environment and human health are serious concerns being raised globally. As a result, use of such hazardous materials has been regulated or prohibited in various applications, thereby hampering revenue growth of the target market.
Growth Projections:
Global ceramic fiber market revenue is expected to expand at a CAGR of 9.7% and market size is projected to increase from USD 1.92 Billion in 2020 to USD 3.99 Billion in 2028. Increasing usage of ceramic fiber in refining & petrochemical and power generation industries is a key factor driving market revenue growth. Market growth is expected to be further boosted by rising demand for high-temperature insulation in various industries across developed countries.
COVID-19 Impact Analysis:
Almost every industry in the world has been affected by the COVID-19. The ceramic fiber market is considerably impacted by disruptions in the supply chain and a pause in the refining and petrochemicals operations, which account for a majority of ceramic fiber demand. Metals processing, power generating, and chemical sectors are all highly reliant on this market. The COVID-19 pandemic has been having a significant effect on growth momentum in key global markets, resulting in considerable decline in operation in refining and petrochemical and power generating industries.
Make Payment [Buy your Exclusive copy]@ https://www.emergenresearch.com/select-license/808
Current Trends and Innovations:
Ceramic fiber in the form of paper is suitable for insulation. It is used to reduce friction as a packing material. It is currently widely used for producing gaskets to prevent heating. Ceramic fiber has significant external strength and is used to manufacture ropes. It is utilized in high-temperature settings and ceramic fiber rope is also utilized as a supporting rope for attaching diverse heat resistant structures.
Geographical Outlook:
North America is expected to register considerably robust growth in terms of revenue contribution to the global market over the forecast period. Robust presence of major ceramic fiber producers including HarbisonWalker International, Inc., FiberCast Inc., and NUTEC Group in countries in the region is expected to continue to drive revenue growth of the North America market going ahead.
Strategic Initiatives:
Some major companies operating in the market include HarbisonWalker International, Inc., Unifrax I LLC, Morgan Advanced Materials PLC, Isolite Insulating Products Company, Limited, YESO Insulating Product Co., Ltd., FiberCast Inc., Ibiden Co. Ltd., Luyang Energy-saving Materials Co., Ltd., Double Egret Thermal Insulation Co., Ltd., and NUTEC Group
- In July 2020, Rex Materials Group was acquired by Unifrax I LLC. The acquisition of Rex Materials extends the offering of high temperature engineered thermal parts of Unifrax while also improving its overall production capabilities.
Have a look at Report Description and Table of Contents of Market Report@ https://www.emergenresearch.com/industry-report/ceramic-fiber-market
Emergen Research has segmented the global ceramic fiber on the basis of product form, type, end-use, and region:
- Product Form Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
- Module
- Paper
- Blanket
- Board
- Others
- Type Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
- Refractory Ceramic Fibers (RCF)
- Alkaline Earth Silicate (AES) Wool
- Others
- End-Use Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
- Power Generation
- Refining & Petrochemical
- Iron & Steel
- Aerospace
- Automotive
- Others
- Regional Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
- North America
a. U.S.
b. Canada
c. Mexico - Europe
a. Germany
b. France
c. U.K.
d. Italy
e. Spain
f. BENELUX
g. Rest of Europe - Asia Pacific
a. China
b. India
c. Japan
d. South Korea
e. Rest of APAC - Latin America
a. Brazil
b. Rest of LATAM - Middle East & Africa
a. Saudi Arabia
b. UAE
c. South Africa
d. Turkey
e. Rest of MEA
Explore More Reports offered by Emergen Research:
The global spherical graphite market size was valued at USD 2,435.8 Million in 2019 and is forecasted to reach USD 9,598.8 Million by 2027 at a CAGR of 18.6%. The spherical graphite market is observing a double-digit growth attributed to its increasing usage in lithium-ion battery production.
The global sodium dichromate market size was valued at USD 759.2 Million in 2019 and is forecasted to reach USD 1,242.4 Million by 2027 at a CAGR of 6.3%. The sodium dichromate market is observing high demand attributed to its increasing application in pigment, metal finishing, chromium compounds preparation, leather tanning, and wood preservative. Factors such as growing demand from the textile industry, growing demand from the building & construction industry, and growing use in leather tanning drive the market growth.
The global flame retardant plastics market size was valued at USD 45.73 Billion in 2019 and is forecasted to reach USD 61.87 Billion by 2027 at a CAGR of 3.8%. The flame retardant plastics market is observing high demand attributed to its increasing application in aerospace & defense, electrical & electronics, wire & cable, pipe & tank, transportation, building & construction, and marine.
The Global Liquid Hydrogen Market size was valued at USD 33.50 Billion in 2019 and is expected to reach USD 50.39 Billion by 2027 at a CAGR of 5.6%. The global market for liquid hydrogen is anticipated to expand rapidly over the forecasted timeframe as the demand for less oil and diesel dependence is continually growing.
The global plastic adhesives market size was valued at USD 6.54 Billion in 2019 and is forecasted to reach USD 10.29 Billion by 2027 at a CAGR of 6.1%. The plastic adhesives market is observing high demand attributed to its increasing application in packaging, automotive & transportation, building & construction, assembly, and healthcare.
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Custom Intelligence services | Growth Consulting Services
Facebook | LinkedIn | Twitter | Blogs
Read Full Press Release@ https://www.emergenresearch.com/press-release/global-ceramic-fiber-market
Logo: https://mma.prnewswire.com/media/1579538/Emergen_Research_Logo.jpg
Share this article