The High-temperature Ceramic Fiber Market is forecasted to reach USD 17.60 Billion by 2027, according to a new report by Reports and Data. High-temperature Ceramic Fiber are in high demand, due to their excellent weight-bearing capacity and excellent thermal and flame resistance. High-temperature Ceramic Fiber find widespread applications in defense safety, aerospace, automobile, manufacturing, and electrical electronics, among other sectors.
Growing demand for improved weight-bearing capacity, combined with superior rigidity for the components in the aerospace and automotive industries, is projected to propel the market demand. The integration of High-temperature Ceramic Fiber into aerospace components provides excellent durability and damage resistance, thereby fueling the growth of the market. Strong regulations levied by the different government bodies to minimize CO2 pollution are also projected to emerge as one of the driving forces for the growth of lightweight materials in aerospace and automotive applications. Such regulations force OEMs to try solutions such as High-temperature Ceramic Fiber to curb pollution and improve fuel efficiency.
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Key participants include:
Toyobo Co. Ltd., DuPont, Teijin Limited, Morgan Thermal Ceramics, Toray Industries, Yantai Tayho Advanced Materials Co. Ltd., Kamenny Vek, Kolon Industries Inc., Owens Corning, Unifrax Corporation and among others.
Increasing industrial development in developing countries such as India, China, and Brazil is expected to boost demand for High-temperature Ceramic Fiber. Most demand for High-temperature Ceramic Fiber in these developing countries is likely to come from industrial and safety protection application. Numerous major players in the global market for High-temperature Ceramic Fiber are investing to reach the unexplored market, which would help market players maintain a leading position worldwide. The industry is distinguished by several suppliers of raw materials, such as BASF and Dow, which provide quality feedstock to manufacture these high-performance fibers. However, it is anticipated that high volatility in the price of feedstock used in the manufacture of these goods would hinder production and is expected to limit the industry's growth.
Market Overview:
The chemical industry is more diverse than virtually any other industry. Harnessing basic ingredients, the industry produces an array of products that not usually seen or used by consumers but are essential components of practically every consumer and industrial product. Most of the chemical industry products are intermediates, and the customers of chemical company are often other chemical companies. Several companies in this industry are also at the forefront of emerging biotechnology industries.
Public and community concerns about the performance of chemical manufacturers has led the industry participants to follow environmental performance standards. The ongoing research and development activities to expand the application scope of materials and chemicals, while reducing environmental impact is a key driving factor for the industry growth.
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Further key findings from the report suggest
- Based on Product, ceramic fibers generated a revenue of USD 2.30 billion in 2019. It is projected to have a CAGR of 8.5% in the forecast period, due to the stable aspect ratio and an incredibly low cross-sectional region, allowing the usage of the component at high temperatures.
- The deformed fibers are expected have a CAGR of 9.5% in the forecasted period, owing to its fundamental characteristics, including significant abrasion and impact resistance with better post crack strength, thereby making it appropriate to use for a variety of applications.
- The automotive sector is the major contributor to the High-temperature Ceramic Fiber Market. The automotive area of the Asia Pacific region is the major shareholder of the market and held around 27.2% of the market in the year 2019, owing to a growing population, coupled with increasing housing needs.
- The Asia Pacific dominated the market for High-temperature Ceramic Fiber in 2019. The region's consistent focus on cost-effective and innovative procedures that are adopted in the area is driving the market. The Asia Pacific region held approximately 33.0% of the market, followed by Europe, which contains around 28.0% market in the year 2019.
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For the purpose of this report, Reports and Data have segmented into the global High-temperature Ceramic Fiber Market on the basis of type, form, application, and region:
Type Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Aramid Fiber
- Ceramic Fiber
- Others
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Automotive
- Aerospace
- Electronics Electrical
- Industrial
- Security
- Others
Regional Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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