SiC Fibers Market worth $1,262 million by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, April 9, 2021 /PRNewswire/ -- According to the new market research report "SiC Fibers Market by Type (First, Second, and Third Generation), Form (Continuous, Woven, Others), Phase (Amorphous, Crystalline, Usage (Composites, Non-Composites), End-Use Industry, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global SiC Fibers Market is expected to grow from USD 382 million in 2020 to USD 1,262 million by 2025, at a CAGR of 27.0% during the forecast period. Increasing demand from aircraft and land-based gas turbine engine manufacturers is driving the growth of the market.
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First generation fibers account for the largest share in terms of volume.
First generation SiC fibers account for the largest share in the global SiC fibers market in terms of volume. First generation SiC Fibers are the most primitive ones that are polymer derived. These fibers have high oxygen and carbon content and can withstand temperatures 2,3720F. These are less expensive when compared with second and third generation SiC fibers.
Continuous form account for the largest market share in the global SiC Fibers market in terms of value and volume
The continuous form of SiC fibers is compatible with PMCs, CMCs, and MMCs. The continuous SiC fiber form has excellent temperature, oxidation, and creep failure resistance. The majority of the SiC fiber manufacturers supply SiC fibers in the continuous form.
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Amorphous SiC fibers account for the largest market share in the global SiC fibers market in terms of value and volume
The SiC fibers in the amorphous phase dominated the market in 2019 owing to high production volumes and less cost. However, the crystalline phase is expected to register a higher CAGR owing to capacity expansion, technological advancements, and increasing demand from aircraft engine manufacturers.
Composites usage accounts for the largest share in the global SiC fibers market in terms of value and volume
The composite usage of SiC fibers dominated the global SiC fibers market. The most commercially explored usage of SiC fibers to date is in the CMCs that are used in the hot section components. The SiC fibers manufactured are supplied either in the continuous or fabric form for composite fabrication.
Aerospace & defense industry dominates the market in the global SiC fibers market in terms of value and volume
The aerospace & defense industry accounted for the largest share in 2019 in terms of value and volume in the SiC fibers market. Increasing demand for reducing fuel consumption, extending engine life, decreasing servicing cost, and increasing weight-to-thrust ratio are driving the SiC fibers market in the aerospace & defense industry. The high share of this segment can also be attributed to the growing demand for third-generation SIC fibers in the hot section components such as nozzles, turbines, shrouds, and combustor liners of aircraft engines. Many companies are increasing the production capacity of SiC fibers to meet their growing demand from aircraft engine manufacturers.
North America to lead the SiC fibers market during the forecast period
The demand for SiC fibers is currently the highest in North America, where extensive R&D is being carried out on SiC fibers. High demand from aircraft engine manufacturers, huge R&D investment, along with GE Aviation's commencement of SiC fiber production from 2019, is expected to drive the SiC fibers market. In the region during the forecast period.
NGS Advanced Fibers Co. Ltd. (Japan), Ube Industries, Ltd. (Japan), GE Aviation (US), COI Ceramics, Inc. (US), Specialty Materials, Inc. (US), BJS Ceramics GmbH (Germany), Ningbo Zhonxing New Materials Co.Ltd. (China), Matech (US), Suzhou Saifei Group (China) are some of the key players in the SiCfibers market. These players have taken different organic and inorganic developmental strategies over the past five years.
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