Home > Pressrelease > Asia Pacific Ceramic Fiber Market size to exceed $1.5Bn by 2032
Asia Pacific Ceramic Fiber Market size to exceed $1.5Bn by 2032
- Published Date: December 14, 2022
Asia Pacific Ceramic Fiber Market size valuation is expected to surpass USD 1.5 billion by 2032, according to a recent research report announced by Global Market Insights Inc.
Significant growth in awareness regarding the benefits of ceramic fibers and the rising demand for ceramic fibers for alternative energy and other applications as the chief drivers of the Asia Pacific ceramic fibers industry trends. Recent developments in the field contributed to a reduction of 30% in the thermal conductivity of newly developed products compared to standard high-shot fiber papers. This is encouraging the usage of ceramic fiber products.
Wide-ranging application in household appliances to accelerate AES segment demand
With respect to product, the study classifies Asia Pacific ceramic fiber market into alkaline earth silicate, refractory ceramic fiber, and others. The alkaline earth silicate (AES) segment was valued at over USD 195 million in 2022 and is speculated to grow steadily through 2032. AES-based fibers provide a wide range of application due to their excellent thermal insulation quality in boiler systems and household appliances. They are also used in thermal analysis devices and laboratory & industrial furnaces, along with sealing materials.
Low thermal conductivity to increase blanket ceramic fibers industry share
Heavy demand for blanket ceramic fibers, especially across roadways. The blanket form segment is foreseen to showcase growth at around 7% between 2023 and 2032. The segment growth is attributable to its superior features, such as low thermal conductivity, low heat storage, high tensile strength, thermal shock resistance, sound absorption, ease of installation, no binder, and no asbestos with no curing on dry-out time.
Browse key industry insights spread across 359 pages with 448 market data tables and 35 figures & charts from the report “Asia Pacific Ceramic Fiber Market Size By Product (Refractory Ceramic Fiber, Alkaline Earth Silicate), By Form (Blanket, Module, Board, Paper), By Temperature Rating (Up to 1000, 1001 to 1200, 1201 to 1400, Over 1400), By Application (Expansion Joint Fiber Barriers, High Temp Pipe, Duct & Tube Insulation, Industry Furnace Base Seal, Fire Dampers), By End-user Industry (Oil & Gas, Iron & Steel, Power Generation, Aluminum, Chemical Processing Industry, Ceramics), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
Substantial demand for crude steel and iron to push 1201 to 1400 segment expansion
Asia Pacific ceramic fiber market share from the 1201 to 1400 temperature rating segment is foreseen to showcase growth at more than 7.5% CAGR over the next 10 years. The strong production of crude steel and iron, particularly in India and Japan, is set to boost the consumption of 1201 to 1400°C temperature-rated ceramic fibers in the Asia Pacific region in the coming years.
Growing product penetration in the automotive industry to augment high-temp gasketing and packing segment revenues
Deployment of ceramic fiber for high-temperature gasketing & packing is primed to remain high in the coming years. Asia Pacific ceramic fiber market size from high-temperature gasketing & packing application segment is estimated to reach over USD 165 million in revenue by 2032. The segment growth is driven by the rapidly expanding industrial sector and snowballing demand for gaskets, especially in the automotive industry.
High government emphasis on bolstering steel production to impel Japan industry development
Japan ceramic fibers market is slated to expand at around 5.5% CAGR over 2023-2032. The region may emerge as a major hub for this industry owing to positive efforts by the government towards boosting the production of steel. In addition, the booming automotive industry due to the rising demand for electric vehicles is pushing regional market share.
Mergers & acquisitions to remain a key growth strategy
Strategic landscape of the Asia Pacific ceramic fiber industry is speculated to witness a series of acquisitions, mergers, and product diversification programs by industry players. For instance, in June 2022, Alkegen, a specialty materials manufacturer, completed the acquisition of Luyang, a supplier of high-performance materials used in modern applications, such as battery technologies, filtration media, fire protection, and high-temperature insulation. Some key players in the Asia Pacific ceramic fiber market profiled in the report include Morgan Advanced Materials PLC., Ibiden Co. Ltd., Rath Inc., Unifrax I LLC., and Luyang Energy-saving Materials Co., Ltd., among others.
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