Reports And Data

Ceramic Fiber Market Size – USD 2.06 Billion in 2020, Growth – at a CAGR of 10.2%, Trends –Rapid advancements in metal processing technologies

NEW YORK CITY, NY, UNITED STATES, March 29, 2022 /EINPresswire.com/ -- The global Ceramic Fiber Market size is expected to reach USD 4.50 Billion in 2028 and register a CAGR of 10.2% over the forecast period, according to the latest report by Reports and Data. Key factors such as increasing demand for durable, flexible, and lightweight materials in different end-use industries, and increasing focus on reducing electricity consumption during various industrial processes are driving market revenue growth. Ceramic fiber, also referred as Ceramic Wool or refractory material, is a type of small-dimension string or filament made of ceramic material. The material has different physical properties such as low thermal conductivity, corrosion resistance, chemical resistance, and heat-resistance.

Ceramic fiber is primarily used as an insulation material in industries such as metal, refining & petrochemical, power generation and others. Refining & petrochemical segment accounted for majority revenue share in the global market in 2020. This can be attributed to increasing demand for ceramic fibers in refining & petrochemical sector due to increasing focus on minimizing operation costs, enhancing operational efficiency, and reducing energy consumption.

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Major players in the market report include Morgan Advanced Materials plc, Unifrax LLC, Luyang Energy Savings Material Co., Ltd., Ibiden Co., Ltd., Harbisonwalker International Inc., Isolite Insulating Product Co. Ltd., Nutec Fibratec, Yeso Insulating Product Co.Ltd., Rath Group, and FibreCast Inc.

Some of the major factors providing impetus to the global materials & chemicals market revenue growth are fast-paced industrialization across the globe and growing demand for raw materials and chemicals in the buildings & construction, pharmaceutical, food & beverage, textile, and agriculture industries. Growing demand for essential consumer goods such as packaged foods & beverages, personal care products & cosmetics, and household hygiene products has driven revenue growth of this market to a significant extent over the recent past. Other key factors contributing to the global market revenue growth are increasing industrial applications of specialty chemicals, growing demand for high-performance, organic agrochemicals in the agriculture sector, increasing government spending on the materials & chemicals industry, rising environmental awareness, and growing need for eco-friendly, environmentally sustainable raw materials and chemicals

Some Key Highlights From the Report:
In September 2021, Enexor BioEnergy announced its partnership with the University of Tennessee. This partnership will help Enexor to test high-temperature ceramic filter technology and get information about energy and cost saving characteristics of ceramic fibers.

RCF segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing construction activities, increasing production of iron, steel, and aluminum, and rising demand for durable and lightweight materials in various end-use industries.

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For the purpose of this report, Reports and Data has segmented the ceramic fiber market based on type, product form, end-use, and region:

Type Outlook (Revenue, USD Billion; 2018-2028)

Refractory Ceramic Fiber (RCF)

Alkaline Earth Silicate (AES) Wool

Others

Product Form Outlook (Revenue, USD Billion; 2018-2028)

Blanket

Module

Board

Paper

Others

End-Use Outlook (Revenue, USD Billion; 2018-2028)

Metals

Refining & Petrochemical

Power Generation

Others

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Regional Outlook (Revenue, USD Billion; 2018-2028)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Explore Reports and Data's Prime Analysis of the global Materials and Chemicals Industry:

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Silicone Additives Market @ https://www.reportsanddata.com/press-release/global-silicone-additives-market

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About Reports and Data
Reports and Data 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 client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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