Latest News- Bio-soluble Fiber Market: Petrochemical is expected to lead the End-user segment during 2024-2028

The Bio-soluble Fiber Market is being driven by Growing popularity of biosoluble mineral fiber in end-user industries

The Bio-soluble Fiber Market is expected to grow at a CAGR of 9.91% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2110.04 million. The global biosoluble mineral fiber market is poised for significant growth, particularly in the automotive industry. Biosoluble fibers are utilized extensively in the manufacturing of automotive spare parts and subparts, as well as for fire protection, fuel cell insulation, exhaust pipe insulation, heat shielding, and interior sealing. Notable types of biosoluble mineral fibers include blankets, wools, and modules, which are in high demand within the automotive sector. The burgeoning automotive industry, driven by increased vehicle production, will fuel the demand for biosoluble mineral fibers throughout the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• 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
    • China
    • India
  • Europe
    • Germany
    • UK
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing popularity of biosoluble mineral fiber in end-user industries
• Growth in oil and gas industry
• Increasing stringency of regulations on man-made fibers

However, the market also witnesses some limitations, which are as follows:

• Presence of alternatives for biosoluble mineral fibers
• High price of biosoluble mineral fibers
• Volatile cost of raw materials of bisoluble mineral fiber

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Market Scope in Bio-soluble Fiber Market Research Report

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Research Analysis Overview

The Bio-soluble Fiber Market encompasses solid fibers with excellent sound retention and biodegradable properties, making them ideal for thermal insulation, fire protection, and soundproofing in various industries. These fibers, derived from raw materials like Oats, Barley, Chia Seeds, and Functional Foods, offer low warmth storage and low warming conductivity. In contrast to petrochemicals, they exhibit resistive properties and are utilized in foundry, metal, power, and automotive sectors for energy-efficient insulation. Additionally, they contribute to reducing Greenhouse gas emissions in building and construction, ceramics and glass, oil and gas, and beverages industries.

Market Research Overview

The global biosoluble mineral fiber market is a significant segment of the expansive specialty chemicals industry. According to Technavio, this market is integrated within the broader specialty chemicals market, which encompasses businesses specializing in high-value-add chemicals utilized in the production of various products, such as fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. The specialty chemicals market's size is determined by the consolidated revenue generated by these manufacturers. Key growth drivers for this market include the increasing preference for specialty adhesives and sealants, which are gaining traction due to their adaptability, solid strength, sound retention, low warmth storage, and low thermal conductivity. These properties make them indispensable in various industries, including construction, automotive, and electronics. Consequently, the global specialty chemicals market is poised for robust expansion in the forthcoming years.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/