Global SiC Fibers Market Size Zooming 6X to Cross USD 3.6 Billion by 2029

Published | 06 February 2023

Global SiC (silicon carbide) fibers market is flourishing because of rising government stimulus package for the aerospace industry and increasing investments in manufacturing SiC fiber-based CMC’s for land-based gas turbines engine.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global SiC (silicon carbide) fibers market size at USD 571.54 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global SiC fibers market size to grow at a robust CAGR of 30.29% reaching a value of USD 3,619.11 million by 2029. Major growth factors for global SiC fibers market include increasing adoption for SiC fibers in aircraft lightweight component manufacture, rising consumption of SiC fibers in nuclear power plants, and growing investments in the production of SiC fiber-based ceramic matrix composites. In comparison to organic and ceramic fibers, SiC fiber is a low-density material with chemical resistance, high hardness, great thermal shock resistance, and high temperature tolerance, resulting in increased demand for gas turbine manufacture. SiC fibers are also increasingly being used in ceramic, metal, and polymer matrix composites. Metal Matrix Composite (MMC), Titanium Matrix Composite (TMC), and Ceramic Matrix Composite (CMC) are SiC-reinforced aluminum, titanium, and ceramic composites with good strength and stiffness, are lightweight, and keep their qualities at high temperatures. Such factors are expected to boost the expansion of overall market. However, a decrease in the number of aircraft deliveries and reduced aircraft production is anticipated to restrain the expansion of global SiC fibers market.

Global SiC Fibers Market – Overview

Silicon Carbide (SiC) crystals are employed to make SiC fibers. Carbon, Silicon, and Oxygen are also included. It is light in weight and extremely strong. It is even capable of surviving in land-based gas turbine engines. It can resist extremely high temperatures. This resilience is the primary reason for its acceptance in the electronics market. SiC fibers are employed in a variety of industries, including automotive, energy, and aerospace. Fibers utilized in the defense and aerospace industries must be very resistant to harsh environments. SiC fibers have a high tensile strength, toughness, and high-temperature resistance. These characteristics are maintained even in the face of severe chemical attacks and harsh temperatures. These characteristics make it an excellent choice for the Aerospace, Defense, and Electronics sectors. As a result, the capability of SiC Fibers is the primary market driver.

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Impact of COVID-19 on Global SiC Fibers Market

Covid-19 had a detrimental impact on the global SiC fibers industry's whole supply chain. Over 100 countries had closed their borders for internal and external trade and transit. Furthermore, the epidemic has nearly halted manufacturing of non-essential products in the majority of global economies. Boeing and Airbus lowered production, which impacted the consumption of SiC fibers in the aerospace industry, prompting material suppliers to underutilize manufacturing capacity. Also, aircraft usage decreased in both the commercial and defense sectors. Hence, demand for SiC Fibers plunged. As a result, the US government provided several stimulus packages in order to resurrect the industry. The US government provided USD 2 trillion in packages to help the industry recover. Boeing received USD 10 billion in emergency assistance. These packages strengthened the stimulus and restructured the market's SiC demand.

Global SiC Fibers Market – By End-User Industry

Based on end-user industry, global SiC fibers market is divided into Aerospace & Defense, Energy & Power, and Industrial segments. The aerospace and defense segment is expected to hold the highest market share. SiC fiber materials are 20% lighter than aluminum, offer non-corrosion and fatigue resistance, and require less maintenance. Furthermore, due to its mechanical stability and ability to withstand low temperatures, SiC fiber is a perfect material for space temperatures, which are predicted to reach -240 degrees Celsius. Advances in astronomical telescopes have resulted in a need for low mirror weight due to a hefty weight, which is driving up demand for 3D printed SiC fiber. Furthermore, the material's ability to be optically polished raised its potential for usage as a very effective and lightweight mirror.

Competitive Landscape

Major players operating in global SiC fibers market include NGS Advanced Fibers, UBE Industries, Cool Ceramics, Inc., GE Aviation, Specialty Materials. Inc, Matech, Hydale Technologies, Suzhou Saifei Group, Nasa Glenn Research Center, Toshiba, Tisics Ltd., and BJS Ceramics. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the Global SiC Fibers Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global SiC Fibers Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global SiC Fibers Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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