Bio-soluble Fiber Market size is set to grow by USD 2.11 billion from 2024-2028, Growing popularity of biosoluble mineral fiber in end-user industries boost the market, Technavio

NEW YORK, June 13, 2024 /PRNewswire/ -- The global bio-soluble fiber market size is estimated to grow by USD 2.11 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 9.91% during the forecast period. Growing popularity of biosoluble mineral fiber in end-user industries is driving market growth, with a trend towards growing demand for biosoluble mineral fiber in automotive industry. However, presence of alternatives for biosoluble mineral fibers poses a challenge. Key market players include Beijing SUPER International Trade Co. Ltd., Calvo Sealing SL, Double Egret Thermal Insulation Co. Ltd., Etex NV, Final Advanced Materials Sarl, Greenergy Refractory and Insulation Material Co. Ltd, Grupo Nutec, Knauf Insulation, Luyang Energy saving Materials Co. Ltd., Morgan Advanced Materials Plc, Pyrotek Inc., Shandong Green Tiantong New Energy Co. LTD, Shandong Guangming Super Refractory Fiber Co. Ltd., Shinagawa Refractories Co. Ltd., Shree Ceramic Fibers Pvt. Ltd., Shree Group of companies, Silca Service und Vertriebsgesellschaft fur Dammstoffe mbH, THERMO Feuerungsbau-Service GmbH, Unifrax I LLC, and Vitcas Ltd..

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Market Driver

The automotive industry is the primary driver for the growth of the global biosoluble mineral fiber market. This segment's expansion is attributed to the extensive use of biosoluble fiber in manufacturing automotive spare parts and subparts, as well as for fire protection, fuel cell insulation, exhaust pipe insulation, heat shielding, and interior sealing.

Major automotive producing countries, including Germany, Italy, the US, India, and China, utilize biosoluble mineral fibers in their production processes. The increasing vehicle production in these countries is expected to boost the demand for biosoluble mineral fiber, thereby fueling market growth. The major types of biosoluble mineral fibers are blankets, wools, and modules, which have a high demand in the automotive sector. 

The bio-soluble fiber market is experiencing significant growth due to increasing demand for healthier food options. These fibers are derived from various sources such as chitin, pectin, and cellulose. The use of bio-soluble fibers in food and beverage industries is on the rise, particularly in the production of functional foods and dietary supplements.

Additionally, the adoption of these fibers in animal feed is also increasing due to their beneficial effects on animal health and productivity. The market is expected to continue growing as more applications are discovered for these eco-friendly and functional fibers. The demand for sustainable and natural ingredients is driving the market forward. The use of bio-soluble fibers in various industries such as food, pharmaceuticals, and animal feed is trending and is expected to continue in the future. 

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Market Challenges

• The global market for biosoluble mineral fibers is facing challenges due to the increasing adoption of fiber-free compounds. Regulatory pressures, such as those from REACH, have driven the shift away from man-made fibers like AES, RCF, and PCW. However, fiber-free alternatives, including insulation refractory bricks and non-RCF fiber insulation, offer advantages in terms of density, weight, and insulating performance. Environmental and health concerns continue to fuel demand for these fiber-free solutions, potentially limiting the growth of the biosoluble mineral fiber market.
• The Bio-soluble Fiber market faces several challenges.
• Digestive enzymes can find it difficult to break down these fibers, leading to inconsistent consumption and absorption. Consistency in product formulation is essential to ensure effective use. The cost of production is another challenge, as the process of extracting bio-soluble fibers can be complex and costly.
• Additionally, the availability of raw materials and sustainable sourcing practices pose challenges for market growth. Regulations and certifications also add to the complexity and cost of production. Producers must navigate these challenges to bring high-quality, consistent, and affordable bio-soluble fiber products to market.

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Segment Overview 

1. End-user 
• 1.1 Petrochemical
• 1.2 Ceramics and glass
• 1.3 Metal and foundry
• 1.4 Power
• 1.5 Others
2. Product 
• 2.1 Biosoluble fiber blanket
• 2.2 Biosoluble fiber board
• 2.3 Biosoluble fiber paper and others
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Petrochemical- The petrochemical industry utilizes biosoluble ceramic fiber modules and blankets for insulation in pipes, heaters, furnaces, stacks, walls, and roofs. These fibers, also employed in oil refineries during crude oil extraction, will see heightened demand due to Middle Eastern and US oil and gas expansion.

Investments in chemical and oil refineries and storage tanks in developing nations, such as India, Iran, Malaysia, Brazil, Nigeria, Indonesia, the UAE, and China, will boost sales of biosoluble mineral fiber products. The expanding petrochemical sector, driven by rising demand from industries like rubber and plastic, will increase production in countries like China. This growth will fuel the need for more biosoluble mineral fiber from the petrochemical industry.

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Research Analysis

The Bio-soluble Fiber Market encompasses the production and distribution of fibers derived from renewable sources, such as plant-based materials. These fibers offer several advantages, including solid protection for various applications, as well as sound retention and low warmth storage properties. They exhibit resistive properties, making them suitable for use in industries like foundry, metal, power, and building and construction.

Additionally, they possess biodegradable qualities, contributing to the reduction of greenhouse gas emissions.

Raw materials for bio-soluble fibers can be sourced from various forms, such as Fiber form Oats, Barley, Chia Seeds, and Functional Foods. Energy-efficient insulation materials, including Ceramics and Glass, Petrochemicals, and Oil and Gas, can also benefit from the incorporation of bio-soluble fibers for enhanced thermal insulation, fire protection, and soundproofing properties.

Market Research Overview

The Bio-soluble Fiber Market refers to the industry that produces and markets fibers derived from renewable biomass sources, which are soluble in water or other liquids. These fibers offer numerous health benefits, including improved digestion, blood sugar management, and increased satiety. The market is driven by the growing consumer awareness and preference for natural and functional food ingredients.

Additionally, the increasing demand for plant-based diets and the expansion of the food and beverage industry are significant factors fueling market growth. The production process involves the extraction of fibers from various plant sources, such as chicory root, apple peels, and oat bran, through various methods like enzymatic hydrolysis and mechanical separation. The market segments include types of fibers, applications, and regions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Petrochemical
• Ceramics And Glass
• Metal And Foundry
• Power
• Others
• Product
• Biosoluble Fiber Blanket
• Biosoluble Fiber Board
• Biosoluble Fiber Paper And Others
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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