DUBLIN, March 9, 2022 /PRNewswire/

The global Ceramic Fiber market held a market value of USD 1,737.7 Million in 2021 and is projected to reach USD 3,973.7 Million by the year 2030. The market is anticipated to grow at a CAGR of 9.86% from 2022 to 2030. In 2021, around 3,009.9 metric tons of ceramic fiber was sold.

Ceramic fibers are small-dimension thread or filament consisting of a ceramic material, such as silica and alumina, among others. The market is expected to be driven by the increasing demand for insulation in high-temperature applications is also estimated to fuel the market growth. Despite the driving factors, stringent regulations pertaining to the use of carcinogenic materials and durability issue are anticipated to hinder the market growth.

Growth Influencers:

Growing demand for insulation in high-temperature applications

Ceramic fiber has lower thermal conductivity and also has the ability to tolerate at high temperature. Products made using ceramic fiber are used as insulation materials in applications requiring energy conservation and high heat containment. These products can be in the form of bulk fibers, blanket, paper, boards, modules, textile, and paper, among others. Growing demand for insulation in high-temperature applications are expected to boost the market growth.