Asia Pacific Ceramic Fiber Market size will exceed $755 million by 2026
Published Date: May 12, 2020 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights, Inc., the Asia Pacific Ceramic Fiber Market size will exceed $755 million by 2026; Excellent thermal insulation properties of ceramic fiber will augment product demand in near future.
Rising demand for ceramic fiber in alternative energy shall foresee significant market growth in the coming years
Rising demand for fuel and energy has augmented the oil & gas refining activities which in turn is expected to surge the demand for thermal insulation products. APAC ceramic fiber market will grow significantly owing to energy conserving properties of the product. Inadequate insulation and low maintenance may cause high energy wastage, therefore efficiently installed insulation systems assist manufacturing facilities in achieving improved productivity and low energy consumption with cost effectiveness.
Common application areas in oil & gas involve acoustical insulation, boilers, burner blocks, catalyst recovery, fire protection, furnace linings, gaskets and expansion joints, ground flares, hot gas filtration etc.
Alternative energy applications, such as biofuels, geothermal, solar, waste incinerators, and fuel cells, are further demanding ceramic fiber products in fabricating several equipment used in the industry. For instance, Asia Pacific ceramic fiber market participant, Unifrax LLC, is offering ceramic fiber products to alternative energy industries through their Unifrax Engineered Thermal Components (UETC) segments.
Therefore, growing alternative energy projects in Asia Pacific along with development in the automotive and aerospace sector will provide lucrative opportunities for Asia Pacific ceramic fiber market expansion in the near future.
COVID-19 pandemic has disrupted the business process functions of several industries across the nation. Lockdown of several countries in response to prevent COVID-19 spread is expected to have adverse impact on several end-user industries. Further, the exponential rise of positive COVID-19 cases in Asia Pacific countries and shutdown of production facilities for some weeks are expected to have severe adverse impact on the first quarter of 2020. Therefore, the Asia Pacific ceramic fiber market share may require up to two years to regain its previous growth rate.
Browse key industry insights spread across 205 pages with 189 market data tables & 28 figures & charts from the report, “Asia Pacific Ceramic Fiber Market By Product (Refractory Ceramic Fiber, Alkaline Earth Silicate), By Form (Blanket, Module, Board, Paper), 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, 2020 – 2026” in detail along with the table of contents:
Alkaline Earth Silicate to attain a high growth
Alkaline Earth Silicate will hold a revenue share of over USD 180 million in 2026 of the overall Asia Pacific ceramic fiber market value. Alkaline earth silicate fiber based thermal insulation materials are bio-soluble and provides insulation at an operating temperature up to 1200 °C and are based on a calcium magnesium silica chemistry. They are produced by melting a combination of calcium oxide, magnesium oxide and silicon dioxide.
AES bulk features following properties such as extreme high-temperature stability, low thermal conductivity, lightweight, low heat storage, excellent chemical stability, high thermal shock resistance etc. They are widely utilized in thermal insulation in boiler systems and household appliances, thermal insulation in thermal analysis devices and laboratory furnaces, industrial furnaces and sealing material etc.
Ceramic fiber module to generate promising revenue growth
Module forms are gaining popularity owing to increased utility in ceramic, power generation, refining, petrochemical, and steel Industry. Modules linings provide low heat loss and storage which increases furnace productivity and efficiency. They offer several benefits such as thermal shock resistance, low heat storage, faster thermal cycling, energy savings, low heat loss, easy to install and requires less maintenance.
Escalating demand of ceramic fiber in power generation sector will augment regional market growth
Asia Pacific ceramic fiber market in the power generation sector will account for a revenue share of close to 16% in the overall market in 2026. Rising population, increasing manufacturing sector, and growing economies in APAC are driving the power generation demand in the region.
Proliferating industrialization in several Asia economies such as Vietnam, Malaysia, Philippines, among others have generated higher demand for power, thereby supporting growth of power generation industry. The product is widely utilized in battery insulation, biofuels, boilers, cable trays, duct lining, expansion joints, fuel cells, geothermal etc.
China dominates APAC ceramic fiber market
China dominates the ceramic fiber industry and will constitute over 40% share in 2026 owing to rising power generation and chemical processing industry in the country. Entry of new industry participants along with strengthening distribution network by international players in the country will further support the Asia Pacific ceramic fiber market growth.
Modernization of infrastructural development will facilitate the demand for lightweight insulation materials. Furthermore, owing to excellent thermal properties of the product iron & steel producers in China, India and Japan are widely accepting ceramic fiber products in foundries to achieve an increased production efficiency, thereby escalating overall Asia Pacific ceramic fiber market.
Technological advancement will emerge as a key strategy to gain strong foothold in the market
Prominent players in the Asia Pacific ceramic fiber industry are making substantial investment to enhance the quality and acceptance of the product among end-users. In January 2018, Nutec Fibratec, launched NuPly high temperature thermal insulation paper products. This product was manufactured with advanced HI-fiberization technology to minimize production costs. This strategy enabled the company to expand its offerings for high temperature application sectors.