Published Date: 14-Jul-2021
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According to a new report Global Silicon Carbide (SiC) Fibers Market, published by KBV research, The Global Silicon Carbide (SiC) Fibers Market size is expected to reach $2.3 billion by 2027, rising at a market growth of 25.6% CAGR during the forecast period.
By form, the continuous silicon carbide fibers segment dominated the market with the highest revenue share in 2020. This fiber offers excellent performance within high-radiation surroundings, thereby, gaining high traction in the nuclear power generation sector. Most of the ceramic matrix composites reinforced continuous filaments that provide higher weight saving & more toughness.
By applications, the aerospace & defense segment is anticipated to emerge as a leading segment in the SiC market during the forecast period. This growth is attributed to the increasing applications of SiC fibers in the production of aircraft. Silicon carbide fiber composites are observing a high penetration in component manufacturing for turbine & combustion parts of aero-propulsion engines, which would lead to the high demand for this product.
Region-wise, North America is projected to exhibit significant growth during the forecast period. It is owing to the swift expansion of the aerospace sector. The Aerospace & defense sector in the U.S. has witnessed substantial growth in production output due to the augmented shipments of general aviation aircraft, commercial aircraft, and civil space systems.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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