The global silicon carbide fibers market size is expected to reach USD 3.1 billion by 2025 progressing at a CAGR of 33.2% over the forecast period according to a new report by Grand View Research, Inc. This can be attributed to the superior strength-to-weight ratio, high modulus, good chemical resistance, and low thermal expansion offered by silicon carbide (SiC) fibers.
Product demand is witnessing growth in the manufacture of hot section components of military and commercial gas turbine engines due to superior thermal and oxidation resistance offered by the product at high temperature. Product penetration is also increasing in manufacturing radiation blankets, channel boxes, and fuel cladding for nuclear reactors. Application scope of the product in aforementioned areas is expected to propel the market for silicon carbide fibers.
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 with improved thermal and structural capability. Use of these products is expected to boost the engine performance under extremely high-temperature conditions. Continuous form was the largest product segment in 2018 on account of its extensive use driven by superior properties such as weight reduction and high toughness.
Expanding application scope of the product in the manufacture of aircraft engine parts and rising product penetration in spacecraft components are emerging as crucial factors driving the demand for silicon carbide fibers. SiC fiber reinforced composites are broadly replacing the metal parts in aircraft owing to their light weight and heat resistance, which aid in enhancing fuel efficiency of aircraft engines. Asia Pacific SiC Fibers market is expected to advance at a remarkable CAGR of 33.0% from 2019 to 2025 with expanding application industries of the product, primarily including aerospace & defense and energy & power.
Request a free sample copy or view report summary: Silicon Carbide Fibers Market Report
Composites emerged as the largest usage segment in 2018 and accounted for over 74.0% of the overall market share, in terms of revenue. This can be attributed to increasing substitution of metal in gas turbine engines owing to the light weight of silicon carbide fiber-reinforced composites
The aerospace & defense segment was valued at USD 246.2 million in 2018 and is projected to witness the highest growth over the forecast period owing to the rapid growth of aircraft manufacturing industry
North America SiC Fibers market is expected to advance at a CAGR of 35.9% over the forecast period, in terms of revenue, due to increased aircraft production and rising penetration of silicon carbide fibers in aircraft industry.
Grand View Research has segmented the global SiC fibers market on the basis of form, usage, application, and region:
SiC Fibers Form Outlook (Volume, Ton; Revenue, USD Million, 2014 - 2025)
Continuous
Woven
Others
SiC Fibers Usage Outlook (Volume, Ton; Revenue, USD Million, 2014 - 2025)
Composites
Non-composites
SiC Fibers Application Outlook (Volume, Ton; Revenue, USD Million, 2014 - 2025)
Aerospace & Defense
Energy & Power
Industrial
Others
SiC Fibers Regional Outlook (Volume, Ton; Revenue, USD Million, 2014 - 2025)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Asia Pacific
China
India
Japan
Central & South America
Brazil
Middle East & Africa
"The quality of research they have done for us has been excellent..."