Silicon Carbide (SiC) Fiber Market Size

Silicon Carbide (SiC) Fiber Market Size & Forecast 2021-2027

Global 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 Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027

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Published Date : July-2021 | Number of Pages : 195 | Format : PDF

COVID-19

Get in-depth analysis of the COVID-19 impact on the Silicon Carbide (SiC) Fiber Market

Market Report Description

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. SiC fibers refer to high-performance and lightweight composite materials, which are utilized in high pressure conditions in different end-use sectors. These fibers are light in weight and display great strength with resistance to corrosion and oxidation. In addition, SiC fibers can also tolerate high-temperature conditions and comes in alpha- and beta-SiC compositions forms. Due to these features, they are highly required in the aerospace & power generation sectors. Additionally, SiC fibers and their composites are becoming a preferred material over any other metal alloys in various end-use applications.

The increasing usage of SiC fibers in aerospace structural applications is among the major trends fueling the growth and demand of the SiC fibers market. Various emerged countries are witnessing a significant demand for these fibers in the production of a range of power & energy materials. The SiC fibers market became highly popular due to the persistent efforts made by manufacturers to increase their production capabilities in the past few years. These latest composite chemistries have developed to offer a broad range of distinct properties to SiC fibers, which has significantly opened new lucrative opportunities for composite manufacturers, particularly in developing countries.

Silicon Carbide (SiC) Fiber Market Size - Global Opportunities and Trends Analysis Report 2021-2027

The industrial application segment would garner substantial growth due to the increasing product usage in the production of heat exchangers, filters, reactors, and reformers in the chemical sector. Additionally, the augmented operational lifetime of the products made by utilizing silicon carbide fibers is anticipated to fuel the market growth. SiC fibers are estimated to acquire a considerable demand from the heat transfer sector in the production of preheater, recuperator, and radiant tubes. The rising penetration of the product in manufacturing radiation blankets, furnace components, and fuel cladding for nuclear reactors is also projected to surge its demand in the market.

COVID-19 Impact Analysis

The global COVID-19 pandemic has impacted almost every section of society. This pandemic has negatively affected the operational efficiency and disturbed the value chains due to the travel ban across national & international boundaries, thus, negatively affecting the demand for SiC Fibers.

The disturbance created by the pandemic in the supply chain along with decreasing number of orders from the aerospace sector and declining production capabilities are collaboratively affecting the demand for SiC Fibers. Though the recovery phase of the economies is getting back on track with their operations, the demand for SiC Fibers is projected to bolster across the globe in the coming years. Additionally, there are many leading companies, which are increasingly investing in the development of advanced products that are among the major driving factors of the SiC fibers market.

Usage Outlook

Based on Usage, the market is segmented into Composites and Non-composites. Based on usage, the composites segment is estimated to garner a substantial growth rate during the forecast period. It is due to the excellent properties of the non-oxide silicon carbide fibers reinforced with composites like better performance in adverse environmental circumstances and structural applications. In addition, they also provide a variety of advantages in comparison to the monolithic composites & metallic superalloys, thereby, contributing to the high demand for the product.

Form Outlook

Based on Form, the market is segmented into Continuous, Woven and Others. The woven silicon carbide fibers segment is anticipated to record substantial growth due to the increasing demand from high-temperature applications. There is a growing usage of improved silicon carbide-based composites in hypersonic applications, which would augment the demand for SiC fibers during the forecast period.

Silicon Carbide (SiC) Fiber Market Share and Industry Analysis Report 2021-2027

Application Outlook

Based on Application, the market is segmented into Aerospace & Defense, Energy & Power, Industrial and Others. SiC fibers reinforced composites are majorly replacing the metal components in aircraft due to their lightweight and heat resistance properties that would improve the fuel efficiency of aircraft engines. Factors like growing usage of ceramic matrix composites, which are made by utilizing the product in high-pressure turbine shroud are projected to bolster the growth of the silicon carbide fibers market during the forecast period.

Silicon Carbide (SiC) Fiber Market Report Coverage
Report Attribute Details
Market size value in 2020 USD 446.1 Million
Market size forecast in 2027 USD 2.3 Billion
Base Year 2020
Historical Period 2017 to 2019
Forecast Period 2021 to 2027
Revenue Growth Rate CAGR of 25.6% from 2021 to 2027
Number of Pages 195
Number of Tables 350
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling
Segments covered Usage, Form, Application, Region
Country scope US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers
  • Increasing demand for SiC fibers in the Aerospace industry
  • Decreasing cost of SiC fiber
Restraints
  • Low production capacity utilization and the disturbance in the supply chain because of the pandemic

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia Pacific region would showca se a promising growth rate during the forecast period. It is due to the increasing application industries like energy & power and aerospace & defense. The increasing initiatives by manufacturers in China to implement silicon carbide in their products are estimated to surge the regional market growth.

Free Valuable Insights: Global Silicon Carbide (SiC) Fiber Market size to reach USD 2.3 Billion by 2027

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:

By Usage

  • Composites
  • Non-composites

By Form

  • Continuous
  • Woven
  • Others

By Application

  • Aerospace & Defense
  • Energy & Power
  • Industrial
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • 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
  • Matech
  • Tisics Ltd.

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Related Reports:

North America Silicon Carbide (SiC) Fiber Market Report 2021-2027

Europe Silicon Carbide (SiC) Fiber Market Report 2021-2027

Asia Pacific Silicon Carbide (SiC) Fiber Market Report 2021-2027

LAMEA Silicon Carbide (SiC) Fiber Market Report 2021-2027

FREQUENTLY ASKED QUESTIONS (FAQ):

The global silicon carbide (SiC) fiber market size is expected to reach $2.3 billion by 2027.

Increasing demand for SiC fibers in the Aerospace industry are driving the market in coming years, however, Low production capacity utilization and the disturbance in the supply chain because of the pandemic limited the growth of the market.

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.

The expected CAGR of the silicon carbide (SiC) fiber market is 25.6% from 2021 to 2027.

The disturbance created by the pandemic in the supply chain along with decreasing number of orders from the aerospace sector and declining production capabilities are collaboratively affecting the demand for SiC Fibers.

By form, the continuous silicon carbide fibers segment dominated the market with the highest revenue share in 2020.

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