SiC Fibers Market Size Estimated to Reach $1243.90 Mn by 2028, with 18.5% CAGR Growth - Premium Study by The Insight Partners

2023-01-13 12:40:07 By : Mr. cai lei

Silicon Carbide (SiC) Fibers Market is expected to grow from US$ 450.93 million in 2021 to US$ 1,243.90 million by 2028; it is estimated to grow at a CAGR of 18.5% from 2022 to 2028.

New York, Dec. 15, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study Silicon (SiC) Fibers Market to 2028 – Global Analysis and Forecast – by Form (Continuous, Woven Cloth, and Others), Usage (Composites and Non-Composites), End-Use Industry (Aerospace & Defense, Energy & Power, Industrial, and Others), and Geography. The projected growth of the market is attributed to the growing demand for SiC fibers from various end-use industries and higher temperature stability compared to their substitutes. 1625℃ Sic Heater

SiC Fibers Market Size Estimated to Reach $1243.90 Mn by 2028, with 18.5% CAGR Growth - Premium Study by The Insight Partners

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SiC Fibers Market - Strategic Insights –

No. of chart and figures

Form, Usage and End Use Industry

North America; Europe; Asia Pacific; Latin America; MEA

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development

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SiC Fibers Market: Competition Landscape

Players operating in the SiC fibers market include American Elements; BJS Ceramics GmbH; COI Ceramics, Inc; General Electric Company; Haydale Technologies Inc.; Matech; NGS Advanced Fibers Co., Ltd.; Specialty Materials, Inc.; Suzhou Saifei Group Co., Ltd; and Ube Industries, Ltd. Market players are focusing on research & development activities and new product launches for providing high-quality products to fulfill customer demand.

In 2019, BJS Ceramics GmbH received EU Funding for its “Silicon-Carbide-Fiber Pilot-Production in Europe” (SPE)-Project.

In 2018, Haydale Technologies announced an expansion to its portfolio of quality products. Haydale Technologies planned to offer ultrahigh-purity silicon carbide particulate in various sizes.

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In 2021, North America held the largest share of the SiC fibers market. The market in this region is mainly driven by the demand generated by industries such as energy & power, aerospace, and chemical manufacturing. The US is a major market for SiC fibers, and the power generation, aerospace & defense, and energy industries are the prime contributors to the market in this country. The aerospace and power generation industries have been the largest consumers of SiC fibers in the US. Canada has one of the fastest-growing aircraft industries. The need for advanced materials and improved efficiency in aircraft operations with the growing demand for fuel-efficient aircraft is boosting the SiC fibers market growth in Canada. Moreover, the growing demand for fuel-efficient aircraft is expected to lead to the growth of the market. Furthermore, SiC fibers are increasingly being used in power generation sector. Thus, the growth of the aerospace and defense, energy and power, industrial and other industries is expected to lead to the SiC fibers market growth in the region.

The demand for SiC fibers is increasing in various industries. SiC fibers are the materials of choice in applications involving extreme mechanical loads and temperatures, wherein metallic or intermetallic materials cannot be used. Another most significant application field of silicon carbide composites relates to the manufacturing of such materials in spacecraft, which could possess lightweight and thermo-mechanical properties at the same time and could bear high temperatures.

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They are also used to manufacture thruster nozzles, reusable rocket nozzles, thermal protection systems, and turbo pump components for space vehicles. In the power generation industry, SiC fibers are used to manufacture land-based gas turbine engines, radiation blankets, furnaces, and components. Low weight, high strength, and ability to withstand extreme temperatures (e.g., in land-based gas turbine engines) are among the properties that contribute to the compatibility of SiC fibers with power generation operations. They are also used in the production of preheaters, recuperators, and radiant tubes meant for applications in the heat transfer industry.

Based on form, the SiC fibers market is segmented into continuous, woven cloth, and others. The continuous segment held the largest market share in 2021. Continuous SiC fibers are widely used in the nuclear environment due to their chemical stability, sturdiness, and relatively low neutron absorption. Moreover, mature fabrication technology available for these fibers make their use more convenient in nuclear operations. Continuous SiC fibers also possess excellent electronic properties too.

Based on end-use industry, the SiC fibers market is segmented into aerospace & defense, energy & power, industrial, and others. The aerospace & defense segment held the largest market share in 2021. The use of SiC fibers has also revolutionized the aerospace & defense industry. The SiC fibers composite materials provide high-performance and lightweight features to meet rigorous industry standards. The use of SiC fibers also contributes to reduction in fuel consumption and decrease in aircraft weight. SiC fibers find applications in advanced aircraft LEAP engines, which demand higher thermodynamic efficiencies and endurance in high temperature conditions. The SiC fibers composites also provide durability and toughness to the aircraft.

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Silicon carbide fiber is a high-performance ceramic material with carbon and silicon as the main components. The major characteristics of silicon carbide fibers include high-temperature oxidation resistance, high hardness, high strength, high thermal stability, corrosion resistance, and low density. Silicon carbide fibers can deliver better performance than carbon fibers in extreme conditions. With such performance benefits, these fibers have attracted much attention in high-tech fields such as aerospace, and military weapon and equipment manufacturing. It is also commonly used as high-temperature resistant material and reinforcement material. Further, owing to developments in manufacturing technologies, the application of silicon carbide fibers is gradually extended to advanced sports equipment manufacturing, automobile waste gas dust collection, and so on.

Silicon carbide fibers provide a high strength-to-weight ratio in comparison to other several high-performance fibers. They exhibit superior performance under extreme temperature conditions. Silicon carbide fiber composites exhibit superior characteristics compared to monolithic composites and super metallic alloys. Silicon carbide fiber-reinforced composites incorporate low thermal permeability & conductivity, and they can be used in specific temperature, stress, and environmental conditions. A resultant increase in the use of silicon carbide fibers in several industries is gradually triggering the phasing out of metal alloys. This is diving the SiC fibers market growth.

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SiC Fibers Market Size Estimated to Reach $1243.90 Mn by 2028, with 18.5% CAGR Growth - Premium Study by The Insight Partners

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