September 07, 2023 09:43 ET | Source: Research and Markets Research and Markets
Dublin, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The "Ceramic Fiber Market by Type (RCF, AES Wool), Product Form (Blanket, Module, Board, Paper), End-Use Industry (Refining & Petrochemical, Metals, Power Generation) and Region(Asia Pacific, North America, Europe, Middle East & Africa) - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering. Ceramic Thermal Blanket
The global ceramic fiber market is poised for significant growth, with an estimated value of USD 2.0 billion in 2022 projected to reach USD 3.2 billion by 2028, reflecting a Compound Annual Growth Rate (CAGR) of 8.2% during the forecast period.
Ceramic fiber insulation plays a pivotal role in bolstering energy efficiency across diverse petrochemical processes. By minimizing heat loss, conserving energy, and maintaining consistent operational temperatures, ceramic fiber insulation emerges as a critical solution in enhancing energy efficiency.
The RCF (Refractory Ceramic Fiber) type is anticipated to emerge as the largest segment, in terms of value, during the forecast period. RCF is a preferred choice in numerous industrial settings due to its adaptability and cost-effectiveness. While other varieties, such as polycrystalline fibers, gain traction, RCF retains its prominence for insulation in sectors like glass, steel, and aluminum production. With applications in industrial furnaces, kilns, and high-temperature machinery, RCF ceramic fiber aids in heat retention, energy efficiency, and temperature stability.
The refining and petrochemical end-use industry is predicted to be the largest segment, in terms of value, during the forecast period. Ceramic fiber's ability to withstand exceedingly high temperatures (up to 2300°F or 1260°C) makes it a favored insulation choice for furnaces, reactors, and machinery in these operations. In refineries and chemical plants, ceramic fiber effectively insulates pipes, tanks, and equipment, contributing to energy conservation, temperature stability, and heat loss prevention.
Asia Pacific emerged as the largest region for the ceramic fiber market in 2022, in terms of value. The region's burgeoning industries, including steel, petrochemicals, cement, power generation, and automobiles, contributed to the substantial market share. The expansion of these sectors, coupled with increasing awareness of ceramic fiber's benefits for high-temperature insulation and energy efficiency, propelled Asia Pacific to a leadership position. China, in particular, played a pivotal role as a significant producer and consumer of ceramic fiber on the global stage.
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