According to the report, the Ceramic Fiber market is expected to grow from USD 1,963 million in 2019 to USD 2,569 million by 2026, growing at a CAGR of 9.67% from 2019 to 2026.
Market Overview
The global Ceramic Fiber market is estimated to be USD 1,963 million in 2019 and is expected to reach USD 2,569 million by 2026, with a CAGR of 9.67% during the forecast period.
Increased thermal efficiency as compared to substitutes and increasing demand from various applications will drive the growth. But stringent regulations pertaining to the use of carcinogenic materials might hinder the growth of Ceramic Fiber market.
Ceramic Fiber is a ceramic matrix composite that is a ceramic composite. This material has a large number of ceramic fibers that are combined together in a certain arrangement to form a ceramic fiber reinforced ceramic-based material.
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Competitive Insights
Key players operating in this market include Morgan Thermal Ceramics, General Insulation Europe Ltd, Unifrax Corporation, Thermost Themtech, Luyang Energy Saving Materials Co, Ceramsource, Inc., and Isolite Insulating Products Co.
Regional Insights
The Asia Pacific is the leading market with a share of 36.57%. This is mainly attributed to the growth of construction, automotive, and manufacturing industries; significant R&D investments; and drive to use fewer toxic products in the APEC countries, such as India, Japan, South Korea, and China. China is the dominating the global petrochemicals market, in terms of both production and consumption, thereby, increasing the demand for ceramic fibers and driving the subsequent market growth. North America is currently leading Europe with a share of 23.68% and 23.34%.
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Based on the type, the Ceramic Fiber market can be segmented into Refractory Ceramic Fiber, Low Bio-Persistent Ceramic Fiber, and Polycrystalline Ceramic Fiber.
Application Insights
Based on application, the Ceramic Fiber market is divided into Petrochemicals, Ceramics, Aluminum, Iron & Steel, Power Generation Sector, and others.
Petroleum & Petrochemicals Industry is Dominating the Ceramic Fiber Market due to the growing global petrochemicals industry, the demand and consumption of ceramic fibers are expected to increase during the forecast period.
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Audience
l Ceramic Fiber manufacturers
l Distributors and resellers of Ceramic Fiber
l Ceramic Fiber industry associations
l Product managers, Ceramic Fiber industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
l Raw material suppliers of Ceramic Fiber
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