The market size of ceramic fiber was USD 2.1 billion in 2021 and is projected to reach USD 3.3 billion by 2026, at a CAGR of 9.9% between 2021 and 2026. The growth of the ceramic fiber market is primarily triggered by its increasing use in the refining & petrochemical and power generation industries. The ceramic fiber market is influenced by the growing population, rising standard of living, awareness among consumers regarding the use of environmentally friendly products, high spending power on technologically-driven products, and the rising demand for lightweight products. APAC is the largest market for ceramic fiber intensive R&D, increasing infrastructural development activities, and increasing awareness created by regulatory organizations, such as EPA and REACH, for environmental protection. Intensive R&D activities are being undertaken in countries, such as China and India. In addition, increasing construction activities to cater to the increasing population and high demand for lightweight and low-cost substitute products are fueling the growth of the ceramic fiber market in the region.
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Based on type, the ceramic fiber market is segmented as RCF AES wool and others. RCF is estimated to be the largest type segment, in terms of value, globally. The rising construction activities; high production of iron & steel and aluminum industries; the rising demand for flexible, durable, and lightweight materials; rising standard of living, and high per-capita spending are driving the RCF market in this region. Owing to the carcinogenic nature of RCF and introduction of several regulations on the use of RCF, companies are now manufacturing and using AES wool as a substitute for RCF.
Based on product form, the ceramic fiber market has been segmented into blanket, module, board, paper, and others. Blanket is the most widely-known product form of ceramic fiber because of its versatility in design and performance. The blanket segment accounted for the largest share of the overall market, in terms of value, in 2020. The huge demand in this segment is owing to the high demand for insulation material in the shipping, metal, automotive, and space industries.
Based on end-use industries, the ceramic fiber market has been segmented into refining & petrochemical, metals, power generation, and others. Refining & petrochemical industry had the highest market share and is expected to grow at the highest rate during the forecast period mainly because of its high use in the furnaces and boilers for refining crude and petrochemicals production. The increasing need to lower operating costs; increase reliability; and lower the energy use in furnace linings, roof, and walls are fueling the demand for ceramic fiber in the refining & petrochemical industry.
On the basis of region, APAC was the largest market for ceramic fiber in 2020. This dominance is expected to continue during the forecast period due to intensive R&D, increasing infrastructural development activities, and increasing awareness created by regulatory organizations, such as EPA and REACH, for environmental protection. Intensive R&D activities are being undertaken in countries, such as China and India. In addition, increasing construction activities to cater to the increasing population and high demand for lightweight and low-cost substitute products are fueling the growth of the ceramic fiber market in the region.
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The key market players profiled in the report include Morgan Advanced Materials plc (UK), Unifrax LLC (US), Luyang Energy Savings Material Co., Ltd. (China), Ibiden Co., Ltd. (Japan), Harbisonwalker International Inc. (US), Isolite Insulating Product Co. Ltd. (Japan), Nutec Fibratec (Mexico), Yeso Insulating Product Co.Ltd. (Japan), Rath Group (US), FibreCast Inc. (US), and Double Egret Thermal Insulation (China). They have adopted strategies such as and new product launch, acquisition, and collaboration in order to gain an advantage over their competitors.
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