Market Trends of Ceramic Textile Industry
This section covers the major market trends shaping the Ceramic Textile Market according to our research experts:
Growing Demand form the End-user Industries
- Ceramic textiles are high-temperature fabrics made from alumina-silica ceramic fiber or yarn and are available in a different size, thickness, and shape. They have excellent thermal resistance, textile strength, chemical inertness, and thermal insulation. These textile materials can withstand temperature up to 1250°C.
- In industrial applications, they are used as insulation, gaskets, seals, and pipe wrappings for furnaces, refineries, power plants, chemical plants, aluminum, iron & steel processing plants, and foundries. Ceramic textiles are often used as engine encapsulants in the transportation and aerospace industry, to minimize heat loss.
- The growing industrialization and excellent temperature of resistance of ceramic textiles are expected to drive the market for ceramic textiles during the forecast period
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for ceramic textiles during the forecast period due to an increase in demand from countries like China and India.
- The growing urbanization followed by infrastructure coupled with the growing industrialization in countries like India and China is expected to drive the market. India is the seventh-largest producer of chemicals and the third-largest agrochemical producer in the world. The total market size of the chemical and petrochemical market is around USD 35 billion for the financial year 2018-19.
- India has the second-largest petroleum refinery in Asia with an annual capacity of 249 million metric tons per annum. The Indian petroleum import value is about USD 112 billion in the financial year 2019 with a 27% growth from USD 88 billion in the financial year 2018. The growing demand for petroleum products is expected to drive the market in the forecast period.
- China is the largest producer of chemicals in the world, with a share of about 35% of the total global shares. Moreover, In China, crude oil consumption is at 14.5 million barrels per day in 2019 from about 13.5 million barrels per day in 2018. The growing demand from chemical and petroleum refinery industries is expected to drive the market.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for the ceramic textile market in the Asia-Pacific during the forecast period.
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