Ceramic Fiber Market Projected to Witness Healthy Growth; RCF Segment to Lead the Rally- Exclusive Report by MarketsandMarkets™

 

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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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).

Players in the ceramic fiber market are mainly concentrating on new product launches, and acquisitions to meet the growing demand for ceramic fiber for various end-use industry. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.

The growth of the ceramic fiber market has been influenced by new product launches that were undertaken between 2018 and 2021. Different companies are deploying different strategies to strengthen their position in the ceramic fiber market. Unifrax LLC, Nutec Fibratec and Morgan Advanced Materials PLC are mostly focused on the Americas; Luyang Energy Savings Material Co., Ltd. and Ibiden Co., Ltd. are mainly focused on APAC. In general, these five companies are all strong in their home region and exploring geographic diversification alternatives to grow their businesses. All five companies are focused on increasing their market shares through partnerships and enhancing their product portfolio over the past few years.

Unifrax is a global leader in high-performance specialty fibers and inorganic materials used in high-temperature industrial, automotive, and fire protection applications. Unifrax I LLC was established as The Carborundum Company and changed its name to Unifrax in 1996. Company recently launched Fiberfrax Durablanket LT and Durablanket LT Z Blankets with improved thermal performance, handling and increased strength. Company also launched Insulfrax 1300 HT Blanket and Insulfrax 1300 HT Anchor-Loc Modules, representing the next generation of low bio-persistent (LBP) thermal insulation. In 2020, company acquired Rex Materials Group, company that manufactures engineered thermal components. In 2019, company acquired Stellar Materials, LLC, a manufacturer of patented specialty chemicals and materials. Unifrax employs more than 2,700 people worldwide, with their corporate headquarters located in Buffalo, New York. They have 37 manufacturing facilities in 12 countries and a sales presence in all of the world’s major industrial regions, including North America, South America, Europe, Australia, Asia, and South Africa.

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On the other hand, AMorgan Advanced Materials Plc works on the engineering of high-performance materials and specialised products that offer reliable solutions to technical challenges. The company strives to offer its customers innovative and differentiated products through extensive R&D measures, technical expertise, and quality processes. Morgan is also focusing on enhancing its operational efficiencies by developing innovative products and implementing operational excellence programs across all its sites to improve its productivity and quality. The company offer market-leading products such as thermal management insulating fibres, firebricks, monolithics and microporous although it is their integrated approach, which incorporates design, manufacture and installation which really sets them apart. In 2020, company acquired Carbo San Luis, a mineral product manufacturer and in 2021 company collaborated with The Midlands Industrial Ceramics Group and thus positioning them as the world leader in advanced ceramics.