SiC Fibers Market Size & Share to Surpass $3.1 Billion by 2030

WASHINGTON, Aug. 30, 2023 (GLOBE NEWSWIRE) -- As per Vantage Market Research, the combination of increasing demand for lightweight & high-strength materials, growing focus on energy efficiency, rising demand for composites, investment in research & development, demand from emerging economies, advancements in manufacturing technologies, and stringent regulations & standards are propelling the growth of the SiC Fibers market.

According to Vantage Market Research, the Global SiC Fibers Market is estimated to be valued at USD 3.1 Billion by 2030 and is expected to exhibit a CAGR of 25.6% from 2023 to 2030. The global SiC Fibers market will grow to USD 0.5 Billion in 2022.

The SiC (silicon carbide) fibers market has steadily grown as the aerospace, defense, and energy industries have increased their demand for lightweight and high-temperature materials. SiC Fibers are high-performance materials that combine strength, stiffness, thermal stability, and remarkable heat, chemicals, and radiation resistance. Because of these properties, SiC fibres offer multiple applications in numerous end-use sectors.

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Key Highlights

The SiC Fiber market is expected to grow significantly in the coming years. Silicon Carbide (SiC) fiber is a ceramic fiber offering exceptional strength and high-temperature resistance. It is widely used in various industries such as aerospace, automotive, energy, and defense. One of the key drivers of the SiC Fiber market growth is the increasing demand for lightweight and high-performance materials in various end-use industries. SiC Fiber's properties, such as its high strength-to-weight ratio and excellent thermal stability, make it an ideal choice for use in applications where high-temperature resistance and durability are required.

Top Companies in The Global SiC Fibers Market

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Factors Affecting the Growth of the SiC Fibers Market Industry Several factors can affect the growth of the SiC Fibers industry. Some of these factors include:

Top Trends in Global SiC Fibers Market

Rising adoption of SiC Fiber in manufacturing ceramic matrix composites (CMC) for high-temperature applications. Growing awareness about the benefits of SiC Fiber, including its high thermal conductivity, excellent corrosion resistance, and low coefficient of thermal expansion. Increasing investments in research and development activities to improve the production process and reduce the cost of SiC Fiber. Emerging applications of SiC Fiber in the electronics and semiconductor industry, such as in manufacturing power devices and sensors.

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Recent Development of the Global SiC Fibers Market

Market Drivers SiC Fibers are widely used in energy-related applications such as nuclear fuel, solar, and fuel cells. Due to their high thermal conductivity and resistance to radiation, SiC Fibers are an ideal material for use in nuclear fuel rods. In addition, SiC Fibers are used in solar cells due to their ability to withstand extreme temperatures and harsh environments. In addition, the energy industry is also a significant end-user of SiC Fibers. SiC Fibers are used in nuclear energy production, solar cells, fuel cells, and other energy-related applications. The automotive industry is a potential growth market for SiC Fibers due to their high strength-to-weight ratio. The growing demand for lightweight and fuel-efficient automobiles is likely to boost the expansion of the automotive SiC fibres market.

Market Restraints The production of SiC Fibers involves complex and expensive manufacturing processes, including chemical vapor deposition (CVD) or polymer pyrolysis. This results in high production costs, making SiC Fibers more expensive compared to other fiber alternatives. The manufacturing of SiC Fibers is still at an early stage, and the current production capacity is relatively low. This limits the availability of SiC Fibers for various applications and makes it difficult to meet the growing demand. In addition, SiC Fibers are prone to cracking and breakage under certain conditions, making them less durable compared to other fiber materials. This restricts their use in applications that require high strength or resistance to mechanical stress.

Market Opportunities In the early year, silicon carbide fibers were very expensive because of their scarcity. Many global producers are developing advanced technologies to produce high SiC Fibers because Japan and the U.S. control large quantities of this fiber for commercial production. Effective product production in high-temperature environments is an area of interest for several companies and R&D centers. For instance, NASA has patented SylramiciBN, a nontoxic silicon carbide fiber that can withstand temperatures up to 1,500 C. Therefore, the initiative of these players will create technological innovation for fiber production and lead to mass production. The market is expected to gain significant value during the forecast period due to increasing technical progress in fiber production.

Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on SiC Fibers Market Forecast Report (2023-2030).

Report Segmentation of the Global SiC Fibers Market

Phase Analysis The crystalline segment is the leading category in the SiC Fibers market. Crystalline silicon carbide (SiC) fibers have exceptional qualities such as solid thermal resistance, high modulus, chemical stability, and high strength, making them appropriate for various applications such as nuclear plants, power reactors, and refractories.

Application Analysis The aerospace & defense segment accounted for the most significant market growth in 2022. This is due to silicon carbide fibers' lightweight, heat-resistant, resilient, chemically stable, shock-resistant, and creep-resistant qualities. Because of these properties, they are excellent for a wide range of aerospace and defense applications, such as insulation in engine parts and nanotubes in turbines.

Market Segmentation

By Phase

By Application

By Region

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Scope of the Report:

Regional Analysis

In 2022, North America held the largest share of the worldwide SiC Fibers market. The increasing demand for SiC Fibers in the aerospace industry, growing research and development activities in SiC Fiber technology, and the need for lightweight composite materials are among the driving factors for the market growth of SiC Fibers in North America. Because of the existence of market leaders such as GE Aviation, Dow DuPont, and SP3 Diamond Technologies, the United States has the biggest market share.

The Asia Pacific region is predicted to increase at the quickest rate during the projection period. Asia Pacific is a significant automotive market, with nations such as China, Japan, India, and South Korea playing critical roles. While the adoption of electric vehicles is increasing in Asia, conventional internal combustion engine (ICE) vehicles dominate the industry. Because of their low cost and dependability, lead-acid batteries are extensively employed in these vehicles. As conventional vehicle sales in the region continue to rise, so does demand for lead-acid batteries.

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