During the forecast period of 2023 to 2033, the predicted growth rate is about 8%. The global Asia Pacific Ceramic Fibers market is expected to be worth US$ 972 million in 2023 and US$ 2098.48 million by 2033.
The market is expected to be driven by rising demand from the power industry and increased use of high-temperature industrial furnaces. Furthermore, the government’s tough requirements and policies promoting a sustainable future have resulted in widespread use and demand for Ceramic Fibers across Asia Pacific.
Rising awareness of Ceramic Fiber properties such as durability, flexibility, toughness, and abrasion resistance is likely to drive demand in Asia Pacific. Furthermore, during the forecast period, increased awareness of fire and heat-resistant materials is likely to operate as an opportunity.
Ceramic fibres are used in a wide range of commercial items, including aircraft engine components (turbine combustors, compressors, and exhaust nozzles), automobile and gas turbine components, aerospace missiles, heat exchangers, hot gas filters, rocket nozzles, gaskets, and wrapping insulation.
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Key Takeaways from the Market Study
- The refractory ceramic fiber (RF) segment is poised to surpass USD 900 million in revenue by 2033.
- The industry share from the up to 1000 segment is estimated to grow at more than 6% CAGR over 2023-2033.
- The industry furnace base seal segment is anticipated to surpass USD 450 million by 2033.
- Excellent thermal properties of ceramic fibers are fueling market expansion.
“Ceramic-fibers are utilized in many different commercial products such as aircraft engine components (turbine combustors, compressors, and exhaust nozzles), automotive and gas turbine elements, aerospace missiles, heat exchangers, hot gas filters, rocket nozzles, gasket, and wrapping insulations.,” says an analyst at Future Market Insights.
Key Market Players
Major players are channeling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market.
Key players in the Asia Pacific Ceramic Fiber market are Morgan Advanced Materials PLC., Ibiden Co. Ltd., Rath Inc., Unifrax I LLC., and Luyang Energy-saving Materials Co., LtD.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global Asia Pacific Ceramic Fiber market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033. The study reveals essential insights by Product, By Temperature Rating, By Application, By End-user Industry, & Region.
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Key Market Segments Covered in the Global Asia Pacific Ceramic Fiber Market
By Product:
- Refractory Ceramic Fiber (RCF)
- Alkaline Earth Silicate (AES)
- Others (PCW)
By Form:
- Blanket
- Module
- Board
- Paper
- Others
By Temperature:
- 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/celling diffusers
- High-temperature gasketing & packing
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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