Silicon Carbide (SiC) Fibers Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2034
Page: 215 | Report Code: MC241010 | Research Suite: Report (PDF) & Market Data (Excel)
Silicon carbide fibers are advanced materials that have a
unique combination of properties that make them suitable for a variety of
high-performance applications. These fibers are known for their high stiffness,
high tensile strength, low weight, excellent chemical resistance, high
temperature tolerance, and low thermal expansion.
MARKET
OVERVIEW
The silicon carbide (SiC) fibers market is valued at approximately USD 712.4 million in 2023 and is projected to reach USD 13,658.6 million by 2034 exhibiting a compound annual growth rate (CAGR) of 30.8% during the forecast period of 2024-2034. SiC fibers are especially useful in sectors like aerospace, automotive, defense, and medicine that require materials that are able to withstand extreme conditions.
GROWTH
DRIVERS
The increasing demand for SiC fibers from the aerospace and
defense industries is one of the main factors propelling the market. SiC fibers
are extremely valuable because of their remarkable qualities, such as their
great strength, resistance to heat, and resistance to corrosion. These
characteristics enable them to be used in aircraft engines, thermal protection
systems, and other critical components that demand materials that can withstand
extreme conditions. This demand is further increased by the continued
development of aerospace technology and the need for more fuel-efficient
aircraft.
The global trend towards renewable energy sources is another
element fueling the growth of SiC fibers. The use of durable materials is
necessary for wind turbines and solar panels to withstand environmental
stresses over time. SiC fibers are an appealing alternative for producers
seeking to create long-lasting renewable energy technologies because of their
increased efficiency and durability in these applications.
The market for silicon carbide (SiC) fibers is anticipated
to further driven by the combination of technological advancements in
production processes, growth of electric vehicle (EV) and hybrid vehicle
market, growth of the electric vehicle market, and rising investment in
research & development activities.
MARKET
SEGMENTATION:
By Type
-
·
Continuous SiC Fibers
·
Woven SiC Fibers
·
Others
By Form
-
·
Amorphous
·
Crystalline
By
Usage -
·
Polymer Matrix Composites
·
Ceramic Matrix Composites
·
Metal Matrix Composites
By Application
–
·
Aerospace and Defense
·
Energy and Power
·
Industrial
·
Other Applications
By
Region –
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa
Silicon
Carbide (SiC) Fibers Market By Type Segment Review:
Continuous SiC fibers are renowned for their excellent oxidation resistance, thermal stability, and mechanical qualities. The market for continuous SiC fibers is mostly driven by the need for lightweight materials that are able to tolerate high temperatures. These are mainly used in high-performance industries including aerospace, automotive, and other industrial sectors.
Silicon
Carbide (SiC) Fibers Market By Form Segment Review:
The non-crystalline structure of amorphous silicon carbide
fibers offers them unique characteristics that advantageous in specific
applications. These fibers are extremely resistant to chemical corrosion, which
is important in settings where corrosive agents or harsh chemicals are present.
This characteristic increases its suitability for use in a range of industrial
sectors.
Silicon
Carbide (SiC) Fibers Market By Usage Segment Review:
The use of silicon carbide fibers in polymer matrix
composites (PMCs) are growing because of their superior strength-to-weight
ratio, resistance to chemical deterioration, and outstanding thermal stability.
The aerospace and automotive sectors, where lightweight materials are crucial
for enhancing performance and fuel efficiency, are driving the expansion of
PMCs.
Silicon
Carbide (SiC) Fibers Market By Application Segment Review:
The aerospace and defense industry are the primary market
for SiC fibers. The necessity for strong, lightweight materials that are
resistant to harsh environments and high temperatures is the main factor that
is driving demand of SiC fibers in this industry.
Silicon
Carbide (SiC) Fibers Market By Region Segment Review:
The market is anticipated to be dominated by North America
due to the high demand for SiC fibers from aircraft engine manufacturers in the
region. Asia Pacific is poised for rapid growth due to increasing demand of
lightweight materials in aerospace and energy sectors.
Silicon
Carbide (SiC) Fibers Market Regional Synopsis:
The silicon carbide fibers market is thriving in North
America. The region benefits from a strong aerospace and defense sector, with
manufacturers increasingly employing these fibers in engine components due to
the superior performance properties of SiC fibers, which include high strength,
heat resistance, and corrosion resistance.
Europe is also leading the way in the adoption of silicon
carbide fibers due to the presence of strong research and development
initiatives focused on using advanced materials for aerospace applications.
Over the course of the projection period, the Asia Pacific
market is expected to rise at its maximum rate due to region’s increasing
industrialization and advancements in technology. The demand for lightweight
materials in automotive applications is further driving market growth in the
region.
The market in Latin America is expanding due to its growing focus on improving manufacturing capabilities within its countries, which is expected to increase the adoption of SiC fibers in the region.
The market in the Middle East & Africa region is growing
moderately due to increasing investments in energy sectors and aerospace
industries.
Silicon
Carbide (SiC) Fibers Market Key Challenges:
The market for silicon carbide (SiC) fiber faces obstacles
because of its high production costs, scarcity of raw resources, competition
from substitutes, technical barriers to producing low-cost solutions, demand
fluctuations caused by the economy, and regulatory compliance requirements.
The high cost of production of SiC fibers is one of the
biggest obstacles to their widespread adoption. Chemical vapor deposition and
other advanced techniques, along with other manufacturing processes,
necessitate significant investment in technology and raw materials. This high
initial costs of SiC fibers is likely to discourage potential customers from
employing it.
SiC fibers are in competition with other well-known
high-performance fibers, including glass, aramid, and carbon fibers. The
presence of well-established supply chains and customer bases in these
alternatives makes it challenging for SiC fibers to penetrate certain markets.
Silicon
Carbide (SiC) Fibers Market Competitive Landscape:
The global market for Silicon Carbide (SiC) Fibers is
characterized by a competitive environment that includes a mix of established
players and emerging companies that are actively engaged in the development,
production, and marketing of SiC fibers.
To remain competitive, companies and research institutes are
continually investing in R&D to innovate new products and enhance existing
manufacturing processes. For example, the Smart Sensing and Electronics Systems
Branch of the NASA Glenn Research Center is developing silicon carbide (SiC) to
enable intelligent sensing and control electronic subsystems to function in
harsh aerospace environments (such as 600 °C = 1112 °F glowing red hot!) that
are beyond the physical capabilities of silicon technologies.
Silicon
Carbide (SiC) Fibers Key Players:
·
NGS Advanced Fibers Co., Ltd.
·
Specialty Materials
·
American Elements
·
Nanoshel LLC
·
NINGXIA ANTELI CARBON MATERIAL CO. LTD
·
Suzhou Saifei Group Ltd.
·
BJS Ceramics GmbH
·
SkySpring Nanomaterials, Inc.
·
Nippon Carbon Co. Ltd.
·
COI Ceramics Inc
·
Other Key & Niche Players