Alumina Fibers market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Know the Russia Ukraine Impact On Alumina Fibers Industry
The global alumina fibers market size is envisaged to gain a steady momentum over the next few years owing to its astronomical use in various end-user industries such others, finds Fortune Business Insights™ in its report, titled, “Alumina Fibers Market Size-2022-2029”.
Within the defense industry, advanced fibers and ceramics are at the heart of the modern armor system. Alumina fibers are characterized to have high strength, high modulus, and exceptional oxidation resistance which make them an apt material to be used in defense and military instruments. As these materials are low weight and high in performance, they are fueling the chemical materials market. For instance, America Elements, a manufacturer of alumina fibers of different grades of purity from 99% to 99.999% supplies these fibers in bulk, as well as in laboratory quantities to its users. The company offers a wide range of products made from these fibers.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Alumina Fibers market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Alumina Fibers market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
By product type, the market is divided into long fiber and short fiber. By application, it is divided into heat insulation refractory, high strength materials, and auto accessories material. The market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa in terms of geography.
Salient Features of the Report:
The report covers drivers and restraints influencing the market size, its share, and growth. Further, it also mentions the prime market segments and comprehensive analysis of the market’s regional growth prospects. Additionally, it gives information about key players in the alumina fibers industry, their top strategies, and their new product launches.
Drivers & Restraints
Increased Demand for Alumina Ceramic to Promote the Market Growth
Alumina ceramics is a recent advancement of the chemical industry. This ceramic provides high-quality electrical insulation along with high hardness and good wear resistance. It is ideal to use in places, which are prone to the corrosive environment. The material is also used in high temperature tolerance equipment. These qualities make it suitable to be used in electronics and semiconductors, energy and power, industrial, medical equipment. Additionally, substrate holding mat made from these high temperature resistance alumina ceramic fibers for automobiles, such as cars, buses, and trucks having gasoline and diesel engines is fueling the market. On the contrary, these fibersave low tension strength. Also, the easy availability of their alternatives is the main restraint of the alumina fibers market.
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North America to Command Backed by its Advancements in Aerospace Materials
North America is anticipated to see a major share in the alumina fiber industry owing to the high technological advancements in chemical industries in the United States. The U.S. spends a high amount of its share in defense equipment and aerospace applications. According to the Aerospace and Manufacturing Design data, the U.S. spends the highest amount in aerospace materials globally. Companies, such as Alcoa Inc. and Cytec Industries are two of the biggest players in this region.
On the other hand, Asia Pacific is also expected to hold a significant share in the market owing to the rapid industrialization in this region. Also, China’s Chalco (Aluminum Corporation of China) is the largest producer of alumina. Thus, the easy availability of raw material will foster the market growth.
Researchers & Key Players Aim to Launch Innovative Products to Promote Growth
Researchers and key players in the market are working together to develop superior-quality alumina fibers. For example, in November 2020, researchers from the Huazhong University of Science and Technology came up with a new approach of making alumina fibers. The new method involves the usage of a silica matrix. The method is named (DCC-HVCI). This technique involves the controlled release of high valence ions. The result of this new approach indicates that this could provide complex shaped fibers and reinforced ceramic matrix with uniform microstructure and high mechanical properties.
March 2021: ZIRCAR Ceramics launched a new type of alumina fiber named ZAL-12. It is a low density and rigid refractory structured material. The manufacturer claims that it will show an excellent resistance against chemical materials and oil or water. But, it can be affected by hydrofluoric and phosphoric acid.
List of Key Players Covered in the Alumina Fibers Market Report:
- Sumitomo Chemical
- Mitsui Mining
- American Elements
- ZIRCAR Ceramics
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