Global ceramic fiber market value 2018-2027

The global ceramic fiber market amounted to 1.55 billion U.S. dollars in 2018 and is expected to grow at a CAGR of 8.4 percent during the forecast period from 2019 to 2027, to amount to 3.15 billion U.S. dollars by 2027. Asia Pacific is the fastest-growing region in the global ceramic fiber market. Increasing industrialization and urbanization are some of the critical factors that are boosting the global ceramic fiber market. As industrialization and urbanization are increasing, the power generation industry is estimated to grow in the Asia Pacific region, which further increases the demand for ceramic fibers. The growing steel and iron industry in India also propels the demand for ceramic fibers.