The market size of ceramic fiber was USD 2.1 billion in 2021 and is projected to reach USD 3.3 billion by 2026, at a CAGR of 9.9% between 2021 and 2026. The growth of the ceramic fiber market is primarily triggered by its increasing use in the refining & petrochemical and power generation industries. The ceramic fiber market is influenced by the growing population, rising standard of living, awareness among consumers regarding the use of environmentally friendly products, high spending power on technologically-driven products, and the rising demand for lightweight products. APAC is the largest market for ceramic fiber intensive R&D, increasing infrastructural development activities, and increasing awareness created by regulatory organizations, such as EPA and REACH, for environmental protection. Intensive R&D activities are being undertaken in countries, such as China and India. In addition, increasing construction activities to cater to the increasing population and high demand for lightweight and low-cost substitute products are fueling the growth of the ceramic fiber market in the region.
The key market players profiled in the report include Morgan Advanced Materials plc (UK), Unifrax LLC (US), Luyang Energy Savings Material Co., Ltd. (China), Ibiden Co., Ltd. (Japan), Harbisonwalker International Inc. (US), Isolite Insulating Product Co. Ltd. (Japan), Nutec Fibratec (Mexico), Yeso Insulating Product Co.Ltd. (Japan), Rath Group (US), FibreCast Inc. (US), and Double Egret Thermal Insulation (China).
