HOME Research Insight New Product Launches is the Key Growth Strategy Adopted by Leading Players in the Global Ceramic Fiber Market

New Product Launches is the Key Growth Strategy Adopted by Leading Players in the Global Ceramic Fiber Market

The global ceramic fiber market is estimated at USD 1.63 Billion in 2017 and is projected to reach USD 2.59 Billion by 2022, at a CAGR of 9.8% from 2017 to 2022. Increasing thermal efficiency as compared to conventional products is the major factor driving the growth of the ceramic fiber market. Growth of the market is also driven by the rising demand for low bio-soluble products in various applications. New product launches is the key growth strategy adopted by the leading market players between 2015 and 2017. Major players have also adopted capacity expansions to strengthen their positions in the global ceramic fiber market.

Key players operating in the global ceramic fiber market include Morgan Advanced Materials PLC (UK), Unifrax I LLC (US), IBIDEN Co., Ltd. (Japan), Isolite Insulating Products Co., Ltd. (Japan), and Luyang Energy-Saving Materials Co., Ltd. (China).

Morgan Advanced Materials PLC (UK) is a key player in the global ceramic fiber market. The company offers a comprehensive range of ceramic fibers for various end-use applications, such as iron & steel, refining & petrochemical, power generation, construction, and automotive. In January 2015, Morgan started offering the industry’s only monolithic pyro-bloc modules. This product offers better tolerance compliance, superior resistance to erosion, and higher density as compared to other module products available in the market and thus gives the company a cutting edge over other companies.

Unifrax I LLC (US) is another leading manufacturer in the ceramic fiber market. The company adopted new product launches as its key growth strategy to gain customer confidence and expand its business globally. It has been focusing on developing ceramic fiber through innovations in products. The company offers ceramic fiber products based on Refractory Ceramic Fiber (RCF), Alkaline Earth Silicate (AES) wool, and polycrystalline types. In February 2018, Unifrax launched lightweight needled blankets under the brand name, Insulfrax LTX. These low bio-persistent blankets offer enhanced physical properties at reduced costs, and reduction in lining thickness by up to 25%.

Related Reports:

Ceramic Fiber Market by Type (RCF and AES Wool), Product Form (Blanket, Board, Paper, and Module), End-use Industry (Refining & Petrochemical, Iron & Steel, Power Generation, and Aluminum), and Region - Global Forecast to 2022

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