The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The Global Ceramic Fiber market was valued $3.64 billion in 2016 and is anticipated to reach $8.64 billion by 2025, growing at an estimated CAGR of 9.88%, during the forecast period 2017-2025.The production of ceramic fiber was estimated to be 2.80 million tons in 2016. It is expected to grow at a CAGR of 10.09% from 2016 to 2025 to reach approximately 6.67 million tons.
The global ceramics fiber market is segmented on the basis of product type and end user. The product type segment can be further classified as
- Refractory Ceramic Fiber
- Low Bio-Persistent Ceramic Fiber
- Polycrystalline Ceramic Fiber
The Market By End-User Is Classified Into:
- Iron & Steel
- Power Generation Sector
- Other End User Sectors
The Refractory Ceramic Fiber market captures the leading position in the current market scene by holding the largest share. However, the Low bio-persistent ceramic fiber is fast growing and is expected to be the best performing type over the forecast period.
Geographically, the global ceramic fiber market has been segmented into four major regions;
- North America: The United States & Canada.
- Europe: United Kingdom, France, Germany, Italy & Rest of Europe.
- Asia Pacific: China, Japan, South Korea, & Rest of Asia Pacific.
- Rest of the world (ROW)
The Asia Pacific region is currently dominating the market scene. The market accounted for 58.41% of the total market share in the year 2016 because of the presence of major hubs for ceramic fiber manufacturing in countries like China, Japan, India and South Korea. A Chinese company, Luyang Energy Saving Materials Co. Ltd, formerly known as Shandong Luyang Share is the leader in this region. The refractory ceramic fiber is the biggest market in the Asia-Pacific. Thus, the large number of manufacturers coupled with the Government incentive support has made the Asia Pacific a global leader in this market.
The major companies operating in the global ceramics fiber market are:
- Morgan Thermal Ceramics
- General Insulation Europe Ltd
- Unifrax Corporation
- Thermost Themtech
- Luyang Energy Saving Materials Co
- Ceramsource, Inc.
- Isolite Insulating Products Co
- And Others
Most of the players look for strategies such as merger & acquisition, partnership, contracts, agreements, new product launch, in order to gain a competitive edge over each other. For example, Morgan Advance Materials entered into a partnership with Airbus Safran Launchers to develop and manufacture ceramic thruster chambers to help satellite propulsion using ion beam engines in May 2017