Ceramic Fiber Market trends research and projections for 2019 - 2025

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Ceramic Fiber Market Growth Outlook with Industry
Review and Forecast 2019-2025
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Global Market Scenario of Ceramic Fiber Industry

• Global ceramic fiber market size is expected to
  grow with a prominent CAGR by 2024. The
  thermal-efficient insulation demand from various
  industries including oil gas, iron steel,
  power generation, etc. shall drive the global
  ceramic fiber market. These fibers feature high
  levels of thermal efficiency and will have
  significant demand for their usage in the inner
  linings of several reheating furnaces at steel
  production plants.
• As per the World Steel Association, crude steel
  production in the world reached 1,630 million
  tons in 2016, rising from 1,252 million tons in
  2006. A growing profile of steel industry will
  propel the ceramic fiber market growth in the
  future years. Increasing use of these fibers in
  end-user industries for their features such as
  high thermal conductivity, lightweight, shock
  resistance, thermal stability, chemical
  resistance, etc. will have a positive impact on
  ceramic fiber market by 2024.
• Refractory ceramic fibers pose as a key
  substitute for asbestos due to their unique
  insulation features. These fibers feature low
  density, low thermal inertia control the
  temperature inside the reheating furnace and
  dissipate little heat from the furnace. Ceramic
  fiber market shall witness escalating demand in
  the industrial furnaces and kilns for their
  energy-saving characteristics in the near future.
  Several regulations regarding the use of these
  fibers for their possible carcinogenicity on
  their unguarded exposure to human may act as a
  growth restrain for global ceramic fiber market
  by 2024.

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• Regional Trends-
• The positive outlook exhibited by the
  construction and manufacturing sectors in Asia
  Pacific in the recent years present brighter
  aspects for ceramic fiber industry growth by
  2024. Modernization of the regional
  infrastructure will encourage the demand for
  lightweight insulation materials, which will
  drive the regional ceramic fiber industry by
  2024. China iron steel sectors have been
  witnessing a wider acceptance of these fibers to
  achieve an increased production efficiency.
• For instance, Chinas share in finished steel
  products grew from 33 in 2006 to 45 in 2016.
  Considering crude steel production, China, Japan
  and India secured the top 3 ranks in 2016 with
  combined production of 1,008.8 million tons. Such
  trends will lead to substantial growth of ceramic
  fiber market in Asia Pacific region in the near
  future.

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• Competitive Trends
• Global ceramic fiber market is likely to be
  highly competitive in the next seven years.
  Industry participants have been engaged in
  substantial research and development activity to
  gain the edge over the competitors. Key industry
  players in this market have been Unifrax I LLC,
  NGP Industries Limited, Morgan Advanced Materials
  Plc, Lewco specialty products, Yeso Insulating
  Products Co. Ltd., Nutec Fibratec, Rath Inc. and
  others.

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