Silicon Carbide Fibers Market Size, Share & Trends Report

Silicon Carbide Fibers Market Size, Share & Trends Analysis Report By Form (Continuous, Woven), By Application (Aerospace & Defense, Energy & Power), By Usage, By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Oct, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-987-6
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 140

Industry Insights

The global silicon carbide (SiC) fibers market size was valued at USD 412.8 million in 2018 and is expected to expand at a CAGR of 33.2% over the forecast period. Increasing use of lightweight silicon carbide fibers for component manufacturing in aerospace industry is projected to drive the market over the forecast period. Increasing consumption of the product in nuclear power plants for manufacturing channel boxes and fuel cladding is further expected to drive the market.

Silicon carbide fibers offer superior strength-to-weight ratio as compared to several other high-performance fibers available in the market. The superior performance of SiC fibers under extreme temperature conditions is expected to further boost the market growth over the forecast period. Moreover, these fibers are also characterized by good chemical resistance, high modulus, and low thermal expansion.

U.S. Silicon Carbide (SiC) Fibers Market

The U.S silicon carbide fibers industry is expected to be driven by high volume consumption in defense industry. Increasing product consumption in the production of energy and power components is also expected to drive the SiC market over the forecast period. The abundant availability of the product on account of high production volume is likely to result in increased consumption.

Silicon carbide fibers are sold at high prices with the product having a limited market presence as a majority of the commercial production is controlled by the U.S. and Japan. However, manufacturers across the globe, primarily in the Middle East & Africa, are undertaking capacity installations and expansions to meet the increasing demand and enhance their position in the global market.

Technological advancements offered by globally-renowned research centers are paving the way for development of advanced silicon carbide fibers, which can be used in high-temperature structural applications. The development of innovative designs and processing technologies required for improving the product is also expected to enhance its operating characteristics. However, these players are expected to witness a threat from potential competitors including academic institutions and other groups supported by higher financial resources as the competitors employ efforts to develop more effective and economical products.

Form Insights

Continuous silicon carbide fibers segment accounted for a majority share, in terms of revenue, in the global market in 2018 and is expected to witness a CAGR of 35.8% over the forecast period. These fibers provide superior performance under high-radiation environment, thus, generating high traction from nuclear power generation industry. A majority of ceramic matrix composites reinforced with continuous filaments offer superior weight saving and high toughness. The product finds extensive use in the production of large critical components in aerospace & defense industry. Furthermore, fiber tows are easy to handle and can be used to produce complex-shaped composites.

A broad range of processing techniques has been developed to produce non-oxidative silicon carbide fibers. The development of these techniques is expected to regulate the microstructural development of the product and enable the control of a broad spectrum of properties including modulus, tensile strength, density, and dielectric constant. Woven silicon carbide fibers segment accounted for 34.3% revenue share of the global market in 2018 and is expected to witness significant growth on account of rising demand from high-temperature applications. Increasing use of advanced silicon carbide-based composites in hypersonic applications is also expected to propel the demand for SiC fibers over the coming years.

Application Insights

Aerospace & defense application is expected to emerge as the dominant segment registering a CAGR of 34.4% from 2019 to 2025, due to rising application scope of silicon carbide fibers in aircraft manufacturing. Silicon carbide fiber composites are witnessing rapid penetration in component manufacturing for turbine & combustion section of aero-propulsion engines, which is expected to result in a high product demand. Silicon carbide fibers reinforced composites are broadly replacing the metal parts in aircraft owing to their light weight and heat resistance, which is expected to enhance the fuel efficiency of aircraft engines. Increasing use of ceramic matrix composites that are manufactured using the product in high-pressure turbine shroud is expected to drive the silicon carbide fibers market over the forecast period.

Industrial application segment is expected to witness significant growth on account of rising product utilization in the manufacture of heat exchangers, reactors, filters, and reformers in chemical industry. In addition, the increased operational lifetime of the products manufactured using silicon carbide fibers is expected to drive the market. Silicon carbide fibers are expected to witness significant demand from heat transfer industry in the manufacture of recuperator, preheater, and radiant tubes. Rapid product penetration in manufacturing furnace components, radiation blankets, and fuel cladding for nuclear reactors is also expected to propel its demand in the market.

Usage Insights

Composites segment is expected to register a CAGR of 34.4% from 2019 to 2025, in terms of revenue, as non-oxide silicon carbide fibers reinforced composites offer superior performance in adverse environmental conditions and structural applications. They offer superior benefits compared to monolithic composites and metallic superalloys, thus, leading to high demand. Silicon carbide fibers reinforced composites offer good creep-rupture resistance and low thermal permeability & conductivity. These composites can also be engineered to incorporate capabilities for specific temperature, life, stress, and environmental conditions, thereby, driving the composites segment over the forecast period.

Global Silicon Carbide (SiC) Fibers Market

One of the major advantages of SiC fibers reinforced composites is that they can be customized as per specific requirements by selecting optimum architecture, coating, and matrix material. Moreover, the product exhibits the same strength characteristics in any formulation, thus, offering flexibility to component manufacturers. Growing popularity of electrospun silicon carbide fibers in microwave application is expected to drive the product demand over the forecast period. The product delivers superior absorption performance under microwave radiations by changing the direction of small fibers alongside the thickness of the sheet, which is expected to fuel their demand over the forecast period.

Regional Insights

North America market was valued at USD 208.1 million in 2018 and is expected to witness notable growth over the forecast period owing to rapid expansion of aerospace industry. Aerospace & defense industry in the U.S. experienced exponential growth in production output on account of increased shipments of general aviation aircraft, civil space systems, and commercial aircraft.Aerospace & defense industry in the region is expected to witness a rapid growth on account of rising manufacturing output driven by high domestic and international demand for commercial aircraft. Rising defense expenditure in the region coupled with increasing investments for NASA is expected to propel the demand for silicon carbide fibers.

Asia Pacific market is expected to advance at a CAGR of 33.0% from 2019 to 2025, in terms of revenue, on account of expanding application industries such as aerospace & defense and energy & power. Rising efforts by manufacturers in China to incorporate silicon carbide in their products are expected to positively impact the market growth in the region.

The Middle East & Africa market is expected to exhibit substantial demand for the product in the production of gas turbines. Power industry in the region intends to construct approximately 500 new coal power plants by 2030, on account of increased adoption of renewable energy. The rise of the region’s nuclear power production capacity is also expected to positively influence the demand for silicon carbide fibers over the forecast period.

Silicon Carbide Fibers Market Share Insights

The market has a presence of a limited number of players. The industry is currently undersupplied with only a limited set of players been successful in commercializing the production of silicon carbide. However, these players are expected to witness a threat from potential competitors including academic institutions and other groups supported by higher financial resources as the competitors employ efforts to develop more effective and economical products.

Top players are engaged in initiatives such as new product development, product customizations, and capacity expansions. These are among the key strategic initiatives adopted by the players to attain a competitive edge in the market. Industry participants are engaged in the development of advanced thermo-chemical techniques to convert precursor fibers to high-performance ultra-high temperature silicon carbide fibers. The global players located in developed economies such as the U.S. and Japan are expected to witness a threat from the emerging players in the Middle East & Africa.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Volume in Ton, Revenue in USD Million, and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country scope

U.S., Canada, Mexico, Germany, U.K., France, China, India, Japan, and Brazil

Report coverage

Revenue forecast, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts volume and revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global silicon carbide fibers market report on the basis of form, usage, application, and region:

  • Form Outlook (Volume, Ton; Revenue, USD Million, 2014 - 2025)

    • Continuous

    • Woven

    • Others

  • Usage Outlook (Volume, Ton; Revenue, USD Million, 2014 - 2025)

    • Composites

    • Non-composites

  • Application Outlook (Volume, Ton; Revenue, USD Million, 2014 - 2025)

    • Aerospace & Defense

    • Energy & Power

    • Industrial

    • Others

  • Regional Outlook (Volume, Ton; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • Japan

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

Key questions answered by the report
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