The global Silicon Carbide (Sic) 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 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.
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Further key findings from the report suggest:
- 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.
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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)
SiC Fibers Usage Outlook (Volume, Ton; Revenue, USD Million, 2014 – 2025)
SiC Fibers Application Outlook (Volume, Ton; Revenue, USD Million, 2014 – 2025)
- Aerospace & Defense
- Energy & Power
SiC Fibers Regional Outlook (Volume, Ton; Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Central & South AmericaMiddle East & Africa
Browse Related Reports @
Silicon Carbide Market – https://www.grandviewresearch.com/industry-analysis/silicon-carbide-market
Aramid Fiber Market – https://www.grandviewresearch.com/industry-analysis/aramid-fiber-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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