Silicon Carbide Fibers Market To Hit Value .1 Billion By 2025 |Grand View Rese

Posted by Mrudula Karmarkar on December 28th, 2021

The global silicon carbide fibers market size is expected to reach USD 3.1 billion by 2025 progressing at a CAGR of 33.2% over the forecast period according to a new report by Grand View Research, Inc. This can be attributed to the superior strength-to-weight ratio, high modulus, good chemical resistance, and low thermal expansion offered by silicon carbide (SiC) fibers.

Product demand is witnessing growth in the manufacture of hot section components of military and commercial gas turbine engines due to superior thermal and oxidation resistance offered by the product at high temperature. Product penetration is also increasing in manufacturing radiation blankets, channel boxes, and fuel cladding for nuclear reactors. Application scope of the product in aforementioned areas is expected to propel the market for silicon carbide fibers.

Industry participants are engaged in the development of advanced thermo-chemical techniques to convert precursor fibers to high-performance ultra-high temperature silicon carbide fibers with improved thermal and structural capability. Use of these products is expected to boost the engine performance under extremely high-temperature conditions. Continuous form was the largest product segment in 2018 on account of its extensive use driven by superior properties such as weight reduction and high toughness.

Expanding application scope of the product in the manufacture of aircraft engine parts and rising product penetration in spacecraft components are emerging as crucial factors driving the demand for silicon carbide fibers. SiC fiber reinforced composites are broadly replacing the metal parts in aircraft owing to their light weight and heat resistance, which aid in enhancing fuel efficiency of aircraft engines. Asia Pacific SiC Fibers market is expected to advance at a remarkable CAGR of 33.0% from 2019 to 2025 with expanding application industries of the product, primarily including aerospace & defense and energy & power. Silicon carbide fibers offer superior strength-to-weight ratio as compared to several other high-performance fibers available in the market. The superior performance of SiC fibers under extreme temperature conditions is expected to further boost the market growth over the forecast period. Moreover, these fibers are also characterized by good chemical resistance, high modulus, and low thermal expansion.

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The U.S silicon carbide fibers industry is expected to be driven by high volume consumption in defense industry. Increasing product consumption in the production of energy and power components is also expected to drive the SiC market over the forecast period. The abundant availability of the product on account of high production volume is likely to result in increased consumption.

Silicon Carbide Fibers Market Report Highlights

  • Composites emerged as the largest usage segment in 2018 and accounted for over 74.0% of the overall market share, in terms of revenue. This can be attributed to increasing substitution of metal in gas turbine engines owing to the light weight of silicon carbide fiber-reinforced composites
  • The aerospace & defense segment was valued at USD 246.2 million in 2018 and is projected to witness the highest growth over the forecast period owing to the rapid growth of aircraft manufacturing industry
  • North America SiC Fibers market is expected to advance at a CAGR of 35.9% over the forecast period, in terms of revenue, due to increased aircraft production and rising penetration of silicon carbide fibers in aircraft industry.

Silicon carbide fibers are sold at high prices with the product having a limited market presence as a majority of the commercial production is controlled by the U.S. and Japan. However, manufacturers across the globe, primarily in the Middle East & Africa, are undertaking capacity installations and expansions to meet the increasing demand and enhance their position in the global SiC fibers market.

The market has a presence of a limited number of players. The industry is currently undersupplied with only a limited set of players been successful in commercializing the production of silicon carbide. However, these players are expected to witness a threat from potential competitors including academic institutions and other groups supported by higher financial resources as the competitors employ efforts to develop more effective and economical products. 

Top players are engaged in initiatives such as new product development, product customizations, and capacity expansions. These are among the key strategic initiatives adopted by the players to attain a competitive edge in the market. Industry participants are engaged in the development of advanced thermo-chemical techniques to convert precursor fibers to high-performance ultra-high temperature silicon carbide fibers. The global players located in developed economies such as the U.S. and Japan are expected to witness a threat from the emerging players in the Middle East & Africa. Some of the prominent players in the silicon carbide fibers market include:

  • Ube Industries
  • NGS Advanced Fibers
  • Suzhou Saifei Group.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare

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Mrudula Karmarkar

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Mrudula Karmarkar
Joined: March 30th, 2020
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