WASHINGTON, Aug. 30, 2023 (GLOBE NEWSWIRE) -- As per Vantage Market Research, the combination of increasing demand for lightweight & high-strength materials, growing focus on energy efficiency, rising demand for composites, investment in research & development, demand from emerging economies, advancements in manufacturing technologies, and stringent regulations & standards are propelling the growth of the SiC Fibers market.
According to Vantage Market Research, the Global SiC Fibers Market is estimated to be valued at USD 3.1 Billion by 2030 and is expected to exhibit a CAGR of 25.6% from 2023 to 2030. The global SiC Fibers market will grow to USD 0.5 Billion in 2022.
The SiC (silicon carbide) fibers market has steadily grown as the aerospace, defense, and energy industries have increased their demand for lightweight and high-temperature materials. SiC Fibers are high-performance materials that combine strength, stiffness, thermal stability, and remarkable heat, chemicals, and radiation resistance. Because of these properties, SiC fibres offer multiple applications in numerous end-use sectors.
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Key Highlights
- By Phase, the Amorphous segment is anticipated to register the fastest market growth during the forecast period.
- By application, the energy & power application segment is expected to witness maximum market growth over the projected period.
- In 2022, North America dominated the market with the highest revenue share of 48.5%.
- Asia Pacific is expected to witness maximum market growth during the forecast period.
The SiC Fiber market is expected to grow significantly in the coming years. Silicon Carbide (SiC) fiber is a ceramic fiber offering exceptional strength and high-temperature resistance. It is widely used in various industries such as aerospace, automotive, energy, and defense. One of the key drivers of the SiC Fiber market growth is the increasing demand for lightweight and high-performance materials in various end-use industries. SiC Fiber's properties, such as its high strength-to-weight ratio and excellent thermal stability, make it an ideal choice for use in applications where high-temperature resistance and durability are required.
Top Companies in The Global SiC Fibers Market
- American Elements (U.S.)
- BJS Ceramics GmbH (Germany)
- Free Form Fibers LLC (U.S.)
- GE Aviation (U.S.)
- Haydale Technologies Inc. (U.S.)
- NGS Advanced Fibers Co. Ltd. (Japan)
- Nippon Carbon Co. Ltd. (Japan)
- Saint Gobain (France)
- SGL Carbon SE (Germany)
- UBE Industries Ltd. (Japan)
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Factors Affecting the Growth of the SiC Fibers Market Industry
Several factors can affect the growth of the SiC Fibers industry. Some of these factors include:
- Increasing demand from aerospace and defense: SiC Fibers are lightweight, high-strength materials with excellent thermal and mechanical properties. These properties make them ideal for use in aerospace and defense applications, such as jet engines, missiles, and spacecraft. The growing demand for lightweight materials in the aerospace and defense industries is expected to drive the growth of the SiC Fiber market.
- Growing demand from the automotive industry: SiC Fibers have high-temperature resistance, low thermal expansion, and superior mechanical properties, making them attractive for use in the automotive industry. SiC Fiber-reinforced composites can help reduce the weight of vehicles and improve fuel efficiency. As the demand for lightweight and fuel-efficient vehicles increases, the demand for SiC Fibers is also expected to grow.
- Increasing adoption in the energy sector: SiC Fibers have excellent thermal conductivity and high-temperature resistance, making them suitable for use in the energy sector. They are commonly used in gas and steam turbines, nuclear power plants, and solar power systems. With the increasing focus on renewable energy sources and the need for more efficient power generation systems, the demand for SiC Fibers in the energy sector is expected to increase.
- Technological advancements in manufacturing processes: Continuous advancements in manufacturing processes, such as chemical vapor deposition (CVD) and polymer precursor methods, have made it easier and more cost-effective to produce SiC Fibers. These advancements have led to improved quality, performance, and availability of SiC Fibers, thereby driving market growth.
Top Trends in Global SiC Fibers Market
Rising adoption of SiC Fiber in manufacturing ceramic matrix composites (CMC) for high-temperature applications. Growing awareness about the benefits of SiC Fiber, including its high thermal conductivity, excellent corrosion resistance, and low coefficient of thermal expansion. Increasing investments in research and development activities to improve the production process and reduce the cost of SiC Fiber. Emerging applications of SiC Fiber in the electronics and semiconductor industry, such as in manufacturing power devices and sensors.
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Recent Development of the Global SiC Fibers Market
- May 2023: BJS Ceramics signed a partnership agreement with ITP Aero to develop next-generation ceramic fibers and their application into Ceramic Matrix Composites (CMCs) components for the next-generation aero-engines.
- March 2023: SGL Carbon SE, a leading manufacturer of products from carbon, has expanded its capacities to support Wolfspeed, a developer & manufacturer of wide-bandgap semiconductors, to grow the silicon carbide high-performance application sector.
- March 2022: GE Aviation introduced a new channel partner, Digi-Key Electronics, to market and distributed GE’s Silicon Carbide (SiC) power modules for industrial vehicles, aviation, and military applications.
Market Drivers
SiC Fibers are widely used in energy-related applications such as nuclear fuel, solar, and fuel cells. Due to their high thermal conductivity and resistance to radiation, SiC Fibers are an ideal material for use in nuclear fuel rods. In addition, SiC Fibers are used in solar cells due to their ability to withstand extreme temperatures and harsh environments. In addition, the energy industry is also a significant end-user of SiC Fibers. SiC Fibers are used in nuclear energy production, solar cells, fuel cells, and other energy-related applications. The automotive industry is a potential growth market for SiC Fibers due to their high strength-to-weight ratio. The growing demand for lightweight and fuel-efficient automobiles is likely to boost the expansion of the automotive SiC fibres market.
Market Restraints
The production of SiC Fibers involves complex and expensive manufacturing processes, including chemical vapor deposition (CVD) or polymer pyrolysis. This results in high production costs, making SiC Fibers more expensive compared to other fiber alternatives. The manufacturing of SiC Fibers is still at an early stage, and the current production capacity is relatively low. This limits the availability of SiC Fibers for various applications and makes it difficult to meet the growing demand. In addition, SiC Fibers are prone to cracking and breakage under certain conditions, making them less durable compared to other fiber materials. This restricts their use in applications that require high strength or resistance to mechanical stress.
Market Opportunities
In the early year, silicon carbide fibers were very expensive because of their scarcity. Many global producers are developing advanced technologies to produce high SiC Fibers because Japan and the U.S. control large quantities of this fiber for commercial production. Effective product production in high-temperature environments is an area of interest for several companies and R&D centers. For instance, NASA has patented SylramiciBN, a nontoxic silicon carbide fiber that can withstand temperatures up to 1,500 C. Therefore, the initiative of these players will create technological innovation for fiber production and lead to mass production. The market is expected to gain significant value during the forecast period due to increasing technical progress in fiber production.
Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on SiC Fibers Market Forecast Report (2023-2030).
Report Segmentation of the Global SiC Fibers Market
Phase Analysis
The crystalline segment is the leading category in the SiC Fibers market. Crystalline silicon carbide (SiC) fibers have exceptional qualities such as solid thermal resistance, high modulus, chemical stability, and high strength, making them appropriate for various applications such as nuclear plants, power reactors, and refractories.
Application Analysis
The aerospace & defense segment accounted for the most significant market growth in 2022. This is due to silicon carbide fibers' lightweight, heat-resistant, resilient, chemically stable, shock-resistant, and creep-resistant qualities. Because of these properties, they are excellent for a wide range of aerospace and defense applications, such as insulation in engine parts and nanotubes in turbines.
Market Segmentation
By Phase
- Crystalline
- Amorphous
By Application
- Aerospace & Defense
- Energy & Power
- Industrial
- Other Applications
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 2.8 Billion |
| Revenue Forecast by 2030 | USD 7 Billion |
| CAGR | 14.1% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | American Elements, BJS Ceramics GmbH, Free Form Fibers LLC, GE Aviation, Haydale Technologies Inc., NGS Advanced Fibers Co. Ltd., Nippon Carbon Co. Ltd., Saint Gobain, SGL Carbon SE, UBE Industries Ltd. |
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Regional Analysis
In 2022, North America held the largest share of the worldwide SiC Fibers market. The increasing demand for SiC Fibers in the aerospace industry, growing research and development activities in SiC Fiber technology, and the need for lightweight composite materials are among the driving factors for the market growth of SiC Fibers in North America. Because of the existence of market leaders such as GE Aviation, Dow DuPont, and SP3 Diamond Technologies, the United States has the biggest market share.
The Asia Pacific region is predicted to increase at the quickest rate during the projection period. Asia Pacific is a significant automotive market, with nations such as China, Japan, India, and South Korea playing critical roles. While the adoption of electric vehicles is increasing in Asia, conventional internal combustion engine (ICE) vehicles dominate the industry. Because of their low cost and dependability, lead-acid batteries are extensively employed in these vehicles. As conventional vehicle sales in the region continue to rise, so does demand for lead-acid batteries.
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