The global ceramic textile market is projected to reach USD 132.5 Million by 2021 registering a CAGR of 9.94%, in terms of value, between 2016 and 2021. It is driven by the growing consumption of insulating products in the Asia-Pacific region, especially in China and India. High dependence on China for iron and steel export is restraining the growth of the ceramic textile market in Asia-Pacific. Emerging application industries, such as aerospace and alternate energy, are expected to drive the global market during the forecast period. Ceramic fibers being lightweight and chemically stable are used in a number of industrial applications, such as insulation and gaskets. They are used in conserving energy and heat management, as they remain chemically stable at high temperatures with properties such as lightweight, high thermal insulation, and low conductivity.
Expansions, acquisitions, and new product launches are the key strategies followed by majority of the players. Morgan Thermal Ceramics (U.K.) launched a low bio-persistent solution, known as Superwool in 2014. It is used in ceramics, glasses, metals, automotive, and consumer goods applications.
The company strives to offer its customers innovative and differentiated products through extensive R&D measures, technical expertise, and quality processes. For instance, in 2010, it developed Superwool Plus and Superwool HT, which improved its sales mainly in Europe. The company is also focusing on enhancing its operational efficiencies by developing products.Recently, it has launched WDS UltraShell microporous insulation for the energy sector. This strengthened the company’s hold in the regional as well as global market.
Kyocera Corporation (Japan) launched a new product line in 2014 that features ceramic nonstick coating technology. It also signed a distribution agreement with Pond Pro sales group to sell Firestone pond lining and geomembranes products in the U.S. The 3M Company (U.S.) and Ceradyne Inc. signed a merger agreement, resulting in Ceradyne, a wholly-owned subsidiary of 3M.
IBIDEN Co. Ltd. (Japan) strategically carries out its plant expansions and operations by reducing its production cost and improving its supply distribution network by establishing plants in emerging markets. This helps the company easily penetrate the market and increase its business revenues through enhanced services to its customers. The strategy adopted is likely to facilitate increased market share, consumer base, and profitability to the company in the coming years.
Ceramic Textile Market by Fiber Type (RCF, Low Bio-Persistent, and Polycrystalline), Form (Cloth, Ropes, Tapes, Sleeving, and Braids), End-Use Industry (Industrial and Transportation), and Region - Global Forecast to 2021
Markets and Markets
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