The global SiC fibers market accounted for US$ 270.0 Mn in 2018 and is expected to grow at a CAGR of 22.2% during the forecast period 2019 – 2027, to account for US$ 3,571.1 Mn by 2027.
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SiC fibers are primarily composed of silicon carbide molecules, which generally ranges from 5-50 micrometers in the diameter. It possesses properties such as higher temperature capability, lower thermal expansion, lower density, higher oxidative durability, lower permeability, light-weight, greater strength, better thermal conductivity, therefore, largely being preferred by the end-use industries like aerospace and defense, energy and power, industrial, and others. SiC fibers are widely considered as a key reinforcing agent, which are highly being used in high performance ceramic matrix or metal matrix composites. It is very expensive and has a limited market, currently.
SiC fibers are increasingly being used in the aerospace and defense industry, mainly because of its properties such as high temperature, corrosion and wear resistance, fracture toughness, and high damage tolerance. SiC fibers are increasingly being used as a replacement of the metal alloys, as the former can be used for high-temperature applications. SiC fibers are highly used in engines of gas turbines, thermal protection systems, thruster nozzles, turbine shrouds, and turbopump components, among others.
North America held the largest share in the global SiC fibers market globally. The presence of well-established SiC fibers market players like General Electric Company, along with the strong presence of key aircraft engines manufacturer, is anticipated to boost the SiC fibers market in the North American region. Major aircraft engines manufacturer in North America, includes Rolls Royce, Pratt and Whitney, CFM International, and others. Rising demands form the well-established aerospace industry is expected to boost the North America market. The SiC fiber manufacturers are increasingly being investing in the production of low-cost fibers to fulfill the rising demands of the end-use industry. SiC fibers are used in reformers, nuclear reactors, heat exchangers, reusable rocket nozzles, turbine shrouds, furnace components, and gas turbines for jet engines, among others. Other key players in North America SiC fibers market, includes Haydale Technologies, Inc., COI Ceramics, Inc., Matech, Specialty Materials, Inc., and others.
Some of the players present in global SiC fibers market are American Elements, BJS Ceramics GmbH, COI Ceramics, Inc., General Electric Company, Haydale Technologies Inc., Matech, NGS Advanced Fibers, Specialty Materials, Inc., Suzhou Saifei Group Co., Ltd, and Ube Industries, Ltd. among others.
The overall global SiC fibers market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the SiC fibers market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the SiC fibers market.
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Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global SiC fiber market, thereby allowing players to develop effective long term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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