Market Research Future (MRFR) has published a cooked research report on the “Global Silica Yarn Market” that contains information from 2018 to 2032. The silica yarn market is estimated to register a CAGR of 10.20% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Silica Yarn market— Mid-Mountain, LIH FENG JIING Enterprise, Henan Ballhone Machinery Industry, Polotsk-Steklovolokno, Textile Technologies Europe, Valmieras stikla šķiedra, BOWEA, Hiltex., Saint-Gobain, and others.
Silica Yarn Market Highlights
The global silica yarn market is accounted to register a CAGR of 10.20% during the forecast period and is estimated to reach USD XX billion by 2032.
The oil and gas industry's use of silica yarn for thermal insulation in high temperatures drives the market's expansion. Additionally, the high cost of raw ingredients and manufacturing processes involved in creating silica yarn may hinder it from being widely used. Furthermore, there are expanding uses for silica yarn in the automotive sector, especially in manufacturing parts that withstand heat and provide thermal insulation for vehicles. There are opportunities for industry participants to form alliances and partnerships to use their combined resources, knowledge, and creativity to promote growth on both sides of the market. Moreover, Strict environmental regulations about the manufacture or disposal of silica yarn could be challenging, particularly in areas where adherence is a major worry.
Segment Analysis
The global silica yarn market has been segmented based on type and application.
The market is segmented based on type into silica ≥ 96% and silica < 96%. The silica ≥ 96% segment was attributed to holding the largest market share in 2022. Manufacturing components for automobile exhaust systems use silica yarn with a high silica concentration. These parts, like thermal shields, must endure the high temperatures produced by exhaust gases. During the projection period, the silica < 96% segment is anticipated to increase at the quickest rate. Textiles intended for reduced heat exposure settings may benefit from silica yarn with a silica content of < 96%. For some industrial uses, this could involve protective gear.
Based on application, the global silica yarn market has been segmented into industrial, military, aerospace, metallurgy and foundry, and others. The aerospace segment was expected to hold the largest market share in 2022. Spacecraft components are insulated with silica yarn to shield them from the extreme temperature changes experienced there. It aids in preserving the operation and integrity of electronic systems and other critical components. The industrial category is the fastest growth. Silica yarn is used in the chemical processing industries to produce components that resist chemical exposure and high temperatures. This can comprise gaskets, seals, and insulating materials for machinery used in chemical processing.
Regional Analysis
Based on region, the global silica yarn market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The European silica yarn market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The silica yarn market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's silica yarn market comprises the Middle East, Africa, and Latin America.
The North American regional sector maintained the largest market share for silica yarn. Metal processing and foundries are two of the many manufacturing sectors in North America where materials resistant to high temperatures are essential. The thermal insulation qualities of silica yarn make it useful in certain production procedures. The growing emphasis on environmental sustainability in North America may influence the use of environmentally friendly materials like silica yarn. The region's sustainability goals align with its recyclability and low environmental effect.
Moreover, the European market has been persistently growing over the forecast period. Europe is renowned for its stringent regulations, particularly in the building, automobile, and aerospace sectors. Because silica yarn can withstand high temperatures and fire, adhering to strict requirements and promoting market expansion is desirable.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. Asia Pacific is a significant center for the production of automobiles. The need for heat-resistant materials from the automotive sector, such as silica yarn for exhaust systems and other components, can propel the market forward.
Furthermore, the rest of the World's silica yarn market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's rising industrialization and manufacturing expansion, growing emphasis on renewable energy, metal processing, and mining, and the uses in the textile industry are all contributing factors to the market expansion.
Key Findings of the Study
- The global silica yarn market is expected to reach USD XX billion by 2032, at a CAGR of 10.20% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market because the Asia-Pacific textile sector, renowned for its breakthroughs and developments, might investigate the application of silica yarn in creating fire-resistant fabrics for various uses.
- Based on application, the aerospace segment was attributed to holding the largest market in 2022.
- Mid-Mountain, LIH FENG JIING Enterprise, Henan Ballhone Machinery Industry, Polotsk-Steklovolokno, Textile Technologies Europe, Valmieras stikla šķiedra, BOWEA, Hiltex., Saint-Gobain, and others.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Silica Yarn Market Size
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Companies Covered | 15 |
Pages | 128 |
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