Ceramic Fiber Market worth $3.2 billion by 2028 – At a CAGR of 8.2%

As per the recently published report by MarketsandMarkets™, the “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 is driven by the ongoing expansion of sectors such petrochemicals, steel, aluminum, glass, cement, and power generation. Due of ceramic fiber’s superior thermal insulation capabilities in high-temperature applications, these industries rely on it.

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• 272 Market data Tables
• 56 Figures
• 243 Pages and in-depth TOC on “Ceramic Fiber Market – Global Forecast to 2028”

This report also provides a comprehensive analysis of the companies listed below:

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).The requirement of ceramic fiber is raising due to the chances for use of ceramic fiber in automotive & aerospace sector  is an opportunity for the key players. Likewise, to hit these opportunities key players should concentrate on new innovations and production of ceramic fiber.

Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the ceramic fiber market.

Recent Developments in Ceramic Fiber Market Industry

1. In May 2023, Morgan Advanced Materials announced their commercial startup of 50+% Yixing factory expansion. Yixing plant manufacturers TJM Insulation Firebricks (IFB), this expansion will help the company to fulfill customer needs from China and Asia in petrochemicals, iron & steel, aluminum and cathode materials.
2. In February 2023, Platinum equity announced the acquisition of HarbisonWalker International. Platinum Equity is a global investment company firm with approximately USD 36 Billion of assets under management and a portfolio of approximately 50
3. In January 2021, Alkegen Corporation launched new product. The company offer the same benefits as previous Fiberfrax blankets, now with physical properties enhanced to improve thermal performance, improved handling, and increased strength. These needled blankets combine innovative proprietary technology with proven performance to create high-performance RCF blanket products.

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Based on type, the ceramic fiber market is segmented into RCF, AES Wool, and Others. RCF segment accounted for the largest market share, in terms of both value and volume, in 2022. RCF is the best material to utilize in high-temperature applications because of its superior thermal insulation qualities. These industries include petrochemicals, steel, aluminum, glass, and power production. When compared to conventional refractory materials, RCF is lighter, making it simpler to handle, transport, and install. RCF’s strong insulating qualities aid in reducing heat loss, enhancing energy efficiency in a variety of industrial operations.

Based on product form, the ceramic fiber market are segmented into blanket, module, board, paper, and others. Among them, blanket accounted for the largest market share, in both terms of value and volume, in 2022. Ceramic fiber blankets are widely used in a variety of industries, including petrochemicals, steel, aluminum, glass, power generation, and more because of their many benefits. They are frequently utilized in boiler walls, pipe and duct insulation, kiln insulation, furnace linings, and other high-temperature equipment and constructions. Ceramic fiber blankets are ideal for use in high-temperature situations because they offer good thermal insulation.

Based on end-use industry, the ceramic fiber market is segmented into refining & petroleum, metals, power generation and others. In oil refineries, ceramic fiber is widely used to line furnaces, heaters, reformers, and other high-temperature machinery. Its thermal insulating properties contribute to a reduction in heat loss and an increase in energy efficiency in these crucial activities. Production of various chemicals and petrochemical goods takes place in petrochemical facilities. In these facilities, ceramic fiber is utilized as insulation in reactors, cracking units, and other machinery that operates at high temperatures.

Based on region, Asia Pacific ruled the ceramic fiber market, in terms of both value and volume, in 2021. Ongoing infrastructure projects, including transportation, energy, and manufacturing facilities, have driven the demand for ceramic fiber in the region. The aerospace and automotive industries in Asia Pacific are also adopting ceramic fiber for thermal management and fire protection in high-temperature applications.

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