Brooklyn, New York, Feb. 22, 2021 (GLOBE NEWSWIRE) -- According to a new market research report published by Global Market Estimates, the Insulated Ceramic Fibers & Bricks Market will grow with a CAGR value of around 8.5 percent during the forecast period [2021 to 2026].
Insulated Ceramic Fibers & Bricks are energy-saving, lightweight, and high-efficiency materials widely used in the petrochemical and manufacturing industries. Rising demand for cost-efficient and less toxic materials will drive material acceptance in various industries including aerospace, automotive, and fuel cells. Ceramic fibers composites are widely adopted in aircraft engine components production such as compressors, turbine combustors, aerospace missiles, and exhaust nozzles. Moreover, the materials have high applicability in the manufacturing of gas turbine elements including hot gas filters, heat exchangers, rocket nozzles, wrapping insulations, and gaskets.
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Insulated Ceramic bricks hold high potential
Increasing awareness of the new product development along with high compatibility with the end-use industry will open new avenues for insulated ceramic bricks. Rising issues such as furnace breaks during thermal shock and the increasing cost of production will stimulate the adoption of these sustainable building materials. High demand from end-users for more reliable and heat resistant products to ensure the quality production process and at the same time meeting government regulations has positively influenced the demand in this segment.
Chemical & petrochemical industry development
These ceramic composites will witness the highest demand from the chemical & petrochemical industries. The presence of large-scale companies accompanied by regular improvisation in the extraction process and technique will promote growth in this segment. Upcoming new projects and increasing partnership on a global basis to achieve cost efficiency with maximum profit will incur a high growth potential.
The Asia Pacific region, led by China will hold the major market share
China holds the highest potential in the region. The presence of a large number of manufacturing facilities and increasing investment in automotive and solar panels will influence the regional demand. The region has also witnessed huge foreign investments to attain maximum gains that will fuel the country's demand. India and Japan are also expected to witness significant growth owing to the shift in preference towards more sustainable production processes.
Companies focus on the material enhancement
Leading industry players are focusing on improving the product by enhancing its durability and performance to meet the expectations in various end-use industries. The market is consolidated and highly competitive due to the presence of few large-scale companies with diversified product portfolios. Also, the presence of local manufacturers makes the market more competitive in terms of price and product reach.
General Insulation Company, 3M, Nutec Group, Ibiden, Mineral Seal Corporation, Morgan Advanced Materials, Unifrax, Dyson Group, Mitsubishi Chemical Corporation, Adl Insulflex Inc, Insulcon Group, BNZ Materials, Isolite Insulating Products, Pyrotek, Par Group, Zircar Products Inc., and Promat International are key market players.
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Product Outlook (Revenue, USD Million, 2019-2026)
- Fibers
- Bricks
End-Use Outlook (Revenue, USD Million, 2019-2026)
- Mining & Metal Processing
- Chemical & Petrochemical
- Manufacturing
- Power Generation
Regional Outlook (Revenue, USD Million, 2019-2026)
North America
- The U.S.
- Canada
Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia Pacific
Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of the Middle East & Africa
Website: Global Market Estimates