Ceramic fiber: Key market research findings
- Stringent safety regulations are the drives the market growth
- Majority of the demand for ceramic fiber comes from the petrochemical industry
- Key vendors—IBIDEN, Isolite Insulating Products, and Unifrax
The market research analysts at Technavio estimate the global ceramic fiber market to grow at a CAGR of almost 11% between 2016 and 2020. Enforcement of stringent safety legislations is the primary driving force behind the growth of the ceramic fiber market across the globe. Rules and regulations regarding safety in the work settings mandate thermal insulation, chemical safety, and electrical safety in risky and hazardous environments. As a result, organizations are increasingly adopting the use of ceramic fiber products as they provide protection against flash fires, high heat, and electric flux. In 2015, APAC occupied over 42% of the market to dominate the global ceramic fiber market. Ongoing and emerging activities in the energy, construction, automotive, and industrial sectors are likely to drive the market growth in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the ceramic fiber segments based on end-user.
“An increasing preference for bio-based insulation materials is the latest trend in the market. Insulation panels made out of plant waste and clay are biodegradable. These materials reduce the embodied energy in the fabric of buildings as they are recyclable and renewable. Furthermore, bio-based insulation materials lock packets of carbon dioxide to increase the efficiency of insulation,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.
In 2015, the petrochemical industry dominated the global ceramic fiber market by occupying over 38% of the overall market share. The growth in demand from the automotive industry, advances in the food processing industry, and the rise in disposable income in developing economies are factors fueling the growth of this segment. The evolution of coal gasification and shale gas production are factors that are likely to augment the overall consumption of ceramic fibers in the petrochemical industry in the coming years.
The key vendors in the global ceramic fiber market include IBIDEN, Isolite Insulating Products, and Unifrax. The global ceramic fiber market is monopolistic in nature with some of the key vendors accounting for around 90% of the ceramic production. It is difficult for new players to enter the industry as they have limited access to the manufacturing technology. The growth of the ceramic fiber market goes hand-in-hand with the adoption of eco-friendly technologies that are compatible with the strict regulations while serving the needs of the global market.
A more detailed analysis is available in the Technavio report, Global Ceramic Fiber Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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