LAMEA Silicon Carbide (SiC) Fiber Market By Usage (Composites and Non-composites), By Form (Continuous, Woven and Others), By Application (Aerospace & Defense, Energy & Power, Industrial and Others), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Latin America, Middle East and Africa Silicon Carbide (SiC) Fibers Market would witness market growth of 31.2% CAGR during the forecast period (2021-2027).
SiC fiber is mostly made up of silicon carbide molecules and displays various properties like tensile strength, high stiffness, low thermal expansion, and high chemical resistance. During the manufacturing process of SiC fibers, chemical vapor deposition (CVD), yajima process, and laser-driven chemical vapor deposition (LCVD) are majorly utilized.
There are various benefits of SiC fibers reinforced composites such as customization of these fibers according to certain needs by picking up the optimum coating, architecture, and matrix material. In addition, this fiber shows the same strength features in any formulation, hence, providing flexibility to component manufacturers. With the rising popularity of electrospun silicon carbide fibers in microwave application, the demand for these fibers would augment during the forecast period. The product provides greater absorption performance in microwave radiations by altering the direction of small fibers along with the thickness of the sheet that is anticipated to spur its demand during the forecast period.
The Middle East & Africa region is anticipated to showcase a significant demand for the product in the manufacturing of gas turbines. The power sector of the region focuses on constructing around 500 new coal power plants by 2030, due to the high adoption of renewable energy. The nuclear power production capacity of the region is rising, which would positively impact the demand for silicon carbide fibers during the forecast period.
The increasing demand for SiC fiber in the production of the gas turbines in the Middle East and Africa region is supporting the SiC fiber market in the LAMEA region. The mature market of oil & gas in the Middle East is providing a lucrative opportunity for the key manufacturers of SiC fibers to enter and acquire a significant regional market share.
In addition, the growing awareness among the manufacturers about the benefits of SiC fibers like high thermal conductivity, light in weight, and among others, would create more demand for these fibers in the market. Additionally, the high demand for renewable energy and the nuclear power production capacity of this region, are also estimated to bolster the regional market growth.
The Continuous market dominated the Saudi Arabia Silicon Carbide (SiC) Fibers Market by Form 2020, thereby, achieving a market value of $13.7 million by 2027. The Woven market is estimated to grow at a CAGR of 33.5% during (2021 - 2027). Additionally, The Others market is expected to witness highest CAGR of 46% during (2021 - 2027).
Based on Usage, the market is segmented into Composites and Non-composites. Based on Form, the market is segmented into Continuous, Woven and Others. Based on Application, the market is segmented into Aerospace & Defense, Energy & Power, Industrial and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co., Toshiba Corporation, Ube Industries, Ltd., Haydale Graphene Industries PLC, Northrop Grumman Corporation (COI Ceramics, Inc.), Specialty Materials, Inc. (Global Material LLC), Suzhou Saifei Group Ltd., BJS Ceramics GmbH, Matech, and Tisics Ltd.
Scope of the Study
Market Segments Covered in the Report:
- Aerospace & Defense
- Energy & Power
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- General Electric (GE) Co.
- Toshiba Corporation
- Ube Industries, Ltd.
- Haydale Graphene Industries PLC
- Northrop Grumman Corporation (COI Ceramics, Inc.)
- Specialty Materials, Inc. (Global Material LLC)
- Suzhou Saifei Group Ltd.
- BJS Ceramics GmbH
- Tisics Ltd.
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