North America 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 North America Silicon Carbide (SiC) Fibers Market would witness market growth of 24.2% CAGR during the forecast period (2021-2027).
SiC fibers are robust & oxidation-resistant and are primarily utilized in high-temperature applications. Additionally, SiC fiber tows are among the latest developments in the market, which are made by utilizing rapid processing methods. These tows are utilized in the formerly impractical applications with a substantial decrease in cost. Microwave sintering furnace is one of the new technologies utilized in the manufacturing of SiC fiber. With the help of this procedure, the power needs, processing temperature, and time are considerably decreased that minimize the overall cost of production of silicon carbide fibers.
The growing demand for silicon carbide fibers is motivating various manufacturers & investors to invest in the SiC fibers market. In addition, the growing popularity of SiC fibers has fuelled the research & development activities for the manufacturing of SiC fiber with better & effective performance in high-temperature scenarios. For example, a group of researchers at NASA has patented a non-oxide silicon carbide fiber called Sylramic-iBN, which can tolerate temperatures up to 3200C. Due to this factor, several manufacturers would experience lucrative opportunities in the the SiC fibers market in next few years.
The aerospace & defense sector in the region is anticipated to procure swift growth due to the growing manufacturing output propelled by high domestic & global demand for commercial aircraft. Moreover, the increasing defense expenditure in this region along with rising investments for NASA is projected to surge the demand for silicon carbide fibers in North America.
With the rising consumption of SiC fiber in the commercial, military, and aerospace sectors in the US, the demand for these fibers is estimated to spur in the coming years. In this region, the US is the leading consumer of SiC fibers and is estimated to acquire a prominent market share. In addition, the presence of major players in the market would also contribute to the growing SiC market in this region.
Several manufacturers in the region are using these fibers instead of using nickel alloys in the manufacturing of numerous engine parts, like blades. In addition, due to the high-performance characteristics of SIC fibers, many manufacturers are adopting these fibers to make their products better. Along with that, the capacity expansions done by the key players in this region would augment the regional SiC fiber market growth.
The US market dominated the North America Silicon Carbide (SiC) Fibers Non-composites Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $187.7 million by 2027. The Canada market is experiencing a CAGR of 30.1% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 29% 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 U.S., Mexico, Canada, and Rest of North America.
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
- Rest of North America
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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