The Global Ceramic Fiber Market was valued at USD 1.8 Bn in 2020 and is expected to reach USD 3.2 Bn by 2027, with a growing CAGR of 8.7% during the forecast period.
Ceramic fibres, which have a polycrystalline rather than amorphous structure, are commonly used as refractory fibres in temperatures above 1000°C. Refractory ceramic fibres are primarily utilised for high-temperature thermal insulation and specific composites. Thus, use of ceramic fibers as RCF in high temperature applications is anticipated to support the ceramic fibers demand. Because only a small quantity or RCF is manufactured and they are used in specific areas such as aerospace, they are very expensive fibres. For instance, NASA Utilizes ceramic fibers in their space suits. Nextel's impact protection capability was discovered by NASA's Marshall Space Flight Center in Alabama and Johnson Space Center in Texas. Combining the fibre with Kevlar, a material commonly used in bulletproof vests, results in a fabric that is more impact resistant than even aluminium plating. The technology, which is woven into a sheet known as a "Stuffed Whipple Shield," The shield is now utilized on the International Space Station as well as orbiting vehicles.
Additionally, due to their huge thermal endurance and corrosion resistance, continuous ceramic fibers/filaments are commonly used in high-temperature applications instead of metals. Ceramic fibres significantly improve the physical and mechanical properties of CMCs, as well as satisfying the unity of the composites by matrix cracking, which increases the composite's failure resistance. Such physical properties of ceramic fibers are anticipated to support the ceramic fiber market growth. For instance, according to the ‘New Build and Expansion Projects' report, 603 new projects are scheduled to start up in North America between 2021 and 2025. Upstream projects would account for 104, midstream projects for 333, refinery and petrochemical projects for 23 and 143, respectively. Therefore, the use of ceramic fibers in petrochemical refineries is anticipated to drive the ceramic fiber industry growth.
Global Ceramic Fiber Market by Region Outlook (Revenue, USD Billion, 2021-2027)
In terms of geography, Asia-Pacific dominated the regional market size for ceramic fiber market. Ceramic fibres are particularly desirable for usage in metal and ceramic composites for automotive applications in this region due to their unique features, such as high-temperature durability and high elastic modulus. Thus, ceramic fibers application in automobile shall support the ceramic fiber market demand on a positive note. Moreover, as the demand for low-cost ceramic fibres grows in China and India, simple access to low-cost ceramic fibres is projected to expand in the near future. According to the International Transport Association, China's government anticipated car manufacturing to reach 30 million units by 2020 and 35 million by 2025, making it the world's largest vehicle market. According to the Chinese Automobile Manufacturers Association, more than 27 million automobiles were sold in 2018.
Furthermore, according to a statement by the Union petroleum and steel minister, India aims to double its refining capacity to roughly 450-500 million tonnes (MT) in the next ten years. The $44 billion West Coast refinery project, with a capacity of 60 million tonnes, was announced in June 2018. The project is 50 percent owned by Saudi Aramco and Abu Dhabi National Oil Company (ADNOC), and the remaining 50 percent is owned by Indian oil marketing organisations Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL).
The Global Ceramic Fiber Market Segmentation:
Global Ceramic Fiber Market by Type Outlook (Revenue, USD Billion, 2021-2027)
Global Ceramic Fiber Market by End Use Outlook (Revenue, USD Billion, 2021-2027)
Company Profiles and Competitive Intelligence
The key players operating in the Ceramic Fiber market are: