However high maintenance and replacement costs in case of breakage or damage are expected to restrict the market growth . Partnerships & Agreements coupled with new product development by major players are estimated to propel the market expansion over the forecast period . In addition , exceptional features offered by these products such as low thermal conductivity , low heat storage , high tensile strength , thermal shock resistance , and sound absorption are anticipated to drive the industry during the forecast period . However , carcinogenic nature of RCF is likely to restrain market growth over the next seven years .
Growing interest and focus in development of manufacturing industries in emerging economies is expected to propel the industry expansion over the next seven years . These materials are fibers that mainly consist of silica and alumina and provide high thermal conductivity . They are widely used in high temperature protection and insulation that constitutes the major segment of manufacturing industries . Stringent ecological regulations and procedures are expected to increase more investment in R & D activities by the leading market players . Thus innovation and technological advancement play a major role in the fireproof ceramic industry .
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Graphite is expected to be the most important raw material due to its properties and is extensively used in introduction stage of refractoriness . On the basis of product type global market has been segmented into Bulk , Blanket , Board , Paper , and Module . Fireproof ceramic blanket is expected to account for largest market share owing to its wide applications in high temperature environment including insulation , and sealing .
These blankets possess several characteristics including corrosion resistance , heat storage and low thermal conductivity . Fiber blanket is manufactured from a natural element known as alumina silica clay and are used majorly in metal industry that work under high temperatures of over 1400 ° C . Ceramic Modules are expected to witness significant growth rate over the forecast period . These modules are used in almost all the major industries to transfer soaking pit covers , reheating furnaces , and ladle lids . The market is anticipated to grow at a CAGR exceeding 11 %, from 2016 to 2024 .
On the basis of end use segment , the global market has been segmented into Ceramics & Glass , Aluminum , Iron & Steel , Power Generation , and Petrochemicals . Ceramic & glass industry is expected to have largest market share owing to growing demand in kilns and kiln cars . The inner side of a kiln is produced from spun brick . Increasing demand for dinnerware , tiles and sanitary ware are expected to steer market growth . Rising demand for flat glass , glass containers , and glass products is anticipated to fuel market growth .
Aluminum industry is expected to witness significant growth rate over the forecast period . This industry uses ceramic fibers in the form of modules , papers and blankets . In addition these fibers are expected to face growing