Global Silicon Carbide (SiC) Fibers Market Report

Market Insights

The global silicon carbide (SiC) fibers market is estimated to grow from USD 0.88 billion in 2023 and is likely to grow at a CAGR of 25.99% during 2023-2028 to reach USD 2.79 billion by 2028.

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What is silicon carbide (SiC) fibers?

Silicon carbide (SiC) fibers are a type of synthetic fiber composed of silicon carbide crystals. Silicon carbide is a compound made up of silicon and carbon, where the silicon and carbon atoms are bonded together in a one-to-one ratio. SiC fibers have been the hot topic for research and development from last 20 years. SiC fibers offers many advantages, such as lightweight, high hardness and superior thermal & chemical resistance.

Key Players

The supply chain of this market comprises raw material suppliers, SiC fiber manufacturers, composite parts manufacturers, engine manufacturers, OEMs, and airline companies.

The key SiC fiber manufacturers are-

• NGS Advanced Fibers Co. Ltd.
• COI Ceramics
• Specialty Materials
• Saint-Gobain
• UBE Industries
• Volzhsky Abrasive Works.

Technological development, new product development for high performance applications, and strategic alliances are the key strategies adopted by the key players to gain competitive edge in the market.

Market Dynamics

Technological advancement, development of new applications in high temperature areas, and high focus of major engine manufacturers to increase the use of SiC fibers in upcoming engine models for commercial and military aircraft are likely to drive the SiC fibers market.

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Challenges:

High cost of SiC fibers: SiC fibers are more expensive than other types of fibers, such as carbon fibers and glass fibers. This is due to the high cost of raw materials and the complex manufacturing process involved in producing SiC fibers.

Limited production capacity: The global production capacity of SiC fibers is limited. This is due to the fact that SiC fibers are a relatively new material and the production process is complex and requires specialized equipment.

Lack of standardization: There is a lack of standardization in the SiC fibers market. This can make it difficult for users to compare and select different types of SiC fibers.

Opportunities:

Growing demand from the aerospace and energy and power sectors: The increasing demand from the aerospace and energy and power sectors is expected to drive the growth of the SiC fibers market in the coming years.

Government support for research and development: Governments around the world are investing heavily in research and development of SiC fibers and their composites. This is expected to lead to the development of new and improved SiC fibers with even better properties.

Expanding applications: SiC fibers are finding new applications in a variety of industries, including automotive, chemical, and medical. This is expected to further drive the growth of the SiC fibers market.

Segments Analysis

By Application Type

The market is segmented as aerospace & defense, power generation, nuclear, and others. Aerospace and Defense segment is expected to experience the fastest growth during the forecast period driven by continuous development of new applications in high temperature areas (1,100°C to 1,600°C) of the aircraft engines. SiC Fibers based composites have one-third density to the nearest rival Nickel metal alloys and therefore reduce the overall engine weight significantly.

Further, high temperature properties of ceramic matrix composites enhance overall engine performance, durability, and fuel economy. LEAP engine, developed by CFM International for A320neo and B737max platforms will have SiC fibers based ceramic matrix composites in its turbine shrouds. Shrouds are stationary parts in the high pressure turbine that direct air and ensure turbine blade efficiency. 

By Fiber Type

The market is segmented as continuous and short fibers. Continuous SiC fibers also known as tow, are expected to experience the fastest growth during the forecast period. Continuous fibers are suitable for ceramic matrix composites (CMC), metal matrix composites (MMC), and polymer matrix composites (PMC). They (continuous fibers) are widely preferred in the aerospace and defense industry.

By Usage Type

The market is segmented as composites and non-composites. Composites (CMC, MMC, and PMC) is expected to remain the largest SiC application type during the forecast period. Ceramic matrix composites are the leading composites type and are used in the many applications from aerospace to power generation to nuclear industry.

Regional Insights

North America is expected to remain the largest market for SiC fibers during the forecast period driven by presence of major aircraft engine manufacturers and high demand of CMC components in other industries including power generation and nuclear. Asia-Pacific region is expected to witness the fastest growth during the forecast period, driven by growing aerospace and defense industry.

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Segmentation

The market is segmented in the following ways:

By Fiber Type:

• Continuous Fibers
• Short Fibers

By Application Type:

• Aerospace and Defense
• Power Generation
• Nuclear
• Others

By Usage Type:

• Composites
• Non-Composites

By Region:

• North America (Country Analysis: USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, UK, Italy, Russia, and Rest of the Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of the Asia-Pacific)
• Rest of the World (Country Analysis: Middle East and Latin America)

Report Features

This report, from Stratview Research, studies the global silicon carbide (SiC) fibers market over the period 2017 to 2028. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

What Deliverables Will You Get in this Report

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3)
• SWOT analysis of key players (up to 3)

Regional Segmentation

• Current market segmentation of any one of the regions by application type

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your enquiry at sales@stratviewresearch.com.