The global ceramic fiber market revenue is expected to expand at a significant CAGR over the forecast period. Ceramic fiber is flexible, lightweight and strong fiber that is used to make blankets, clothes, ropes, etc. Growing adoption of ceramic fiber in various industries is a major factor, anticipated to drive the growth of the global ceramic fiber market.
The global ceramic fiber market report has been segmented on the basis of product type, application, end user industry, and region. On the basis of product type, the market is segmented into refractory ceramic fiber (RCF), alkaline earth silicate (AES), and others. Alkaline earth silicate (AES) segment expected to dominate the global market in terms of revenue over the forecast period, owing to its increasing usage in marine vessels and buildings for fire protection. In addition, increasing use in kitchen utensils due to its heat insulation properties, is expected to boost the growth of the market in the near future.
On the basis of application, the market is segmented into paper, blanket, cloth, module, and others. Module segment is expected to register a significant growth, owing to its ability to sustain at different temperatures. On the basis of end user industry, the market is segmented into iron and steel, aluminum, power generation, and refining and petrochemical. Refining and petrochemical segment dominates the global market in terms of revenue and expected to maintain its dominance over the forecast period.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to hold the major shares in the global market in terms of revenue over the forecast period, due to increasing usage of high quality ceramic fiber in the construction and manufacturing industries. North America is expected to witness a lucrative growth in terms of revenue in the near future, owing to rising demand for ceramic fiber in various industries. The Middle East and Africa market is expected register a high growth rate, followed by Latin America.
Key players operating in the global ceramic fiber market include Morgan Advanced Materials plc, Unifrax I LLC, Luyang Energy-saving Materials Co. Ltd., Ibiden Co. Ltd., HarbisonWalker International, Inc., Isolite Insulating Products Co. Ltd., Nutec Fibratec, S.A., YESO Insulating Product Co. Ltd., Rath Inc., and Fibercast Corporation.