In terms of value, the ceramic fiber market is estimated to grow from USD 2.3 billion in 2024 to USD 3.5 billion by 2029, at a CAGR of 8.6%. Ceramic fiber market have grown as the demand for insulation materials is growing, increasing infrastructural projects and urbanization, Growing industrial expansion in Asia Pacific region. These factors drive the ceramic fiber market. Also, the ceramic fiber manufacturers has opportunity from mounting demand from energy industries, growing transportation industry, and expanding construction industry. Along with the drivers and opportunities, rising regulations on use of carcinogenic insulation raw materials and expensive production of ceramic fibers is the major restraint for the market growth.
The key players profiled in the report include Morgan Advanced Materials plc. (UK), Alkegen (US), IBIDEN Co., Ltd. (Japan), NUTEC Incorporated (Mexico), HarbisonWalker International Inc. (US), Isolite Insulating Products Co. Ltd. (Japan), YESO INSULATING PRODUCTS COMPANY LIMITED (China), RATH Group (Austria), ZIRCAR Ceramics Inc. (US), and others. The ceramic fiber market has witnessed insignificant growth in the past few years; mounting demand for alternative energy industries and growing transportation industry drive the growth of this market. Market players are introducing new technologies, acquisitions, collaborations and features to acquire larger market shares.
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Alkegen is one of the world’s prominent provider of inventive ceramic fibers and other materials. The company operates over 60 manufacturing facilities around the world and has strong presence in European, North American, and Asia Pacific region. It offers a exhaustive range of products such as blankets, boards, papers, modules, and others forms of ceramic fibers. It creates innovative insulation engineered products, by focusing on reducing the impact on environment and working towards achieving sustainable goals. Its facilities are fully compliant with global environmental regulations and hold advanced ISO certifications. In June 2022, Alkegen acquired China’s largest ceramic fiber manufacturer Luyang Energy-Saving Materials Co.. Alkegen, backed by Clearlake Capital, completed a majority investment in Luyang Energy-Saving Materials Co., acquiring a controlling stake.
Morgan Advanced Materials plc is a global specialty engineering and manufacturers of ceramic fiber materials including blanket, modules, boards, and other product forms. The company has a strong global presence in Europe, North America, and Asia Pacific region with 70 manufacturing facilities. It offers ceramic fiber products through its thermal ceramics division. It provide advanced thermal and fire protection insulation solutions, including ceramic fibers, to various industries. Its sustainability efforts prioritize material and energy efficiency to lower carbon dioxide emissions. In July 2023, the company has expanded its Yixing plant with increasing its capacity by over 50%.
Related Reports:
Ceramic Fiber Market by Type (Refractory Ceramic Fiber (RCF), Alkaline Earth Silicate (AES) Wool), Product Form (Blanket, Board, Paper, Module), End-use Industry (Refining & Petrochemical, Metal, Power Generation), and Region - Global Forecast to 2029
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