New York, United States, Oct. 12, 2023 (GLOBE NEWSWIRE) -- Silicon carbide fiber, also referred to as SiC fiber, is a high-performance ceramic material composed primarily of silicon carbide molecules. SiC fiber is in high demand due to its exceptional performance characteristics. “The global Sic fiber market size is envisioned to grow at a CAGR of 18.85% and reach USD 1,768 million during the forecast period.,” states the Research Manager at Straits Research P. Ltd.
Key Drivers
A silicon carbide (SiC) fiber has a diameter between 5 and 150 micrometers and is composed primarily of silicon carbide molecules. These properties make them suitable for various aerospace applications, including heat engine insulation, turbine nanotubes, ceramic matrix composites (CMC), and metallic alloy substitutes. As a result of the use of SiC fiber in the production of various aircraft components, the silicon carbide fiber market may experience a substantial increase in demand. Developing nations such as China, India, and others are continually modernizing their aircraft and fighter jets with cutting-edge features.
Due to its heat resistance, corrosion resistance, high modulus, chemical stability, and lightweight, silicon carbide (SiC) fiber is suitable for use in a wide range of energy & power components. The Indian Brands Equity Foundation predicts that India's electricity consumption will increase from 1,160.1 TWh in 2016 to 1,894.7 TWh in 2022. This will prompt the Indian government and local authorities to construct additional power plants in regions where SiC fiber is commonly used in high-temperature applications.
Growth Opportunities
In recent years, the increasing demand for silicon carbide (SiC) fiber has drawn manufacturers and investors to the SiC fiber market. In addition, growing interest has accelerated research and development efforts to improve the performance of SiC fiber in high-temperature environments. In addition, the leading manufacturers of SiC fiber, including BJS Ceramics GmbH and the Fraunhofer Center for High-Temperature Lightweight Construction HTL, have expanded their silicon carbide production to include the output of non-oxide Sic fiber.
Regional Insights
North America will expand at a CAGR of 17.52% and command the market with the largest share during the forecast period. Silicon carbide (SiC) fibers are widely used in applications requiring a high modulus, heat resistance, and insulation. The utilization of SiC fiber in aerospace & defense, nuclear power reactors, and other industries is the most significant market trend in North America. The expansion of the United States aerospace and defense industries has increased demand for SiC fiber, which provides thermal support for aircraft engines and turbines.
Europe will hold the second-largest share of USD 533 million, growing at a CAGR of 19.91%. Silicon carbide (SiC) fibers are widely used in the aerospace industry for insulation, nanotube, and metallic superalloy applications. In Europe, SiC fiber is predominantly used in aircraft manufacturing, composites, power plants, and the metals industry. Based on a report released by the European Committee of the Regions, the fourth industrial revolution (4IR) focuses on renewable energy and power technology, with SiC fiber gaining prominence for high-temperature applications.
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Key Highlights
- The energy & power segment is expected to hold the largest share during the forecast period growing at a CAGR of 18.52%.
- Based on phase, the crystalline segment is expected to hold the largest share during the forecast period growing at a CAGR of 18.28%.
- Based on regional analysis, North America will grow at a CAGR of 17.52% and command the market with the largest share during the forecast period.
Competitive Players in the Market
- American Elements
- BJS Ceramics GmbH
- Free Form Fiber LLC
- GE Aviation
- Haydale Technologies Inc.
- NGS Advanced Fiber Co., Ltd.
- Nippon Carbon Co., Ltd.
- Saint Gobain
- SGL Carbon SE
- UBE Industries Ltd
Market News
- In 2022, GE Aviation announced a partnership with 4AIR to offer business aviation customers access to environmental offsets.
- In 2022, GE Aviation announced a partnership with Red Bike Cincinnati to sponsor Red Bike's new fleet of E-bikes.
Global Sic Fiber Market: Segmentation
By Phase
- Crystalline
- Amorphous
By Application
- Aerospace & Defense
- Energy & power
- Industrial
- Others
By Region
- North America
- Asia Pacific
- Europe
- LAMEA
About Straits Research Pvt Ltd.
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