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Ceramic textiles market projected at $183 mn by 2027

24
Aug '20
Pic: Shutterstock
Pic: Shutterstock
The global market for ceramic textiles, estimated at $103.5 million this year, is projected to reach $183.1 million by 2027, according to a recent report titled ‘Global Ceramic Textiles Industry’ released by Reportlinker. It is projected to grow at a compounded annual growth rate (CAGR) of 8.5 per cent from 2020 to 2027. The Chinese market is forecast to grow at a CAGR of 11.4 per cent and reach $38.1 million by 2027.

Refractory ceramic fibre (RCF), one of the segments analysed in the report, is projected to record a 9.1 per cent CAGR and reach $88.6 million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the low bio-persistent segment is readjusted to a revised 8.1 per cent CAGR for the next seven-year period, a company press release said.

The ceramic textiles market in the United States is estimated at $28 million for 2020. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.7 per cent and 7.2 per cent respectively over the forecast period. Within Europe, Germany is forecast to grow at approximately 6.6 per cent CAGR.

In the global polycrystalline segment, the United States, Canada, Japan, China and Europe will drive the 7.2 per cent CAGR estimated for this segment. These regional markets accounting for a combined market size of $17.7 million in 2020 will reach a projected size of $28.8 million by the close of the analysis period.

China will remain among the fastest growing in the polycrystalline segment in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach $25.8 million by the year 2027, while Latin America will expand at a 9 per cent CAGR through the analysis period.

Fibre2Fashion News Desk (DS)

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