SiC Fibers Market to Grow with a CAGR of 8.88% through 2028
Expansion of the space exploration sector is expected
to drive the Global SiC Fibers Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “SiC Fibers Market
– Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global SiC Fibers Market stood at USD435.24 million in 2022 and is anticipated to grow with a CAGR of 8.88% in the forecast
period, 2023-2028. The initiatives taken by government based on SiC fibers has
led to favorable market conditions for the Global SiC Fibers Market. Several
factors contribute to the growth of various SiC fibers products.
Regulatory guidelines are of utmost importance in
shaping the SiC fibers market. For example, the U.S. Environmental Protection
Agency (EPA) has established the Organic Chemicals, Plastics, and Synthetic
Fibers effluent guidelines regulation (40 CFR Part 414) to provide
comprehensive support documents that not only guide the manufacturing processes
but also ensure the proper disposal of these materials. These guidelines serve
as a framework for industry players, ensuring compliance with environmental standards
and promoting sustainable practices throughout the entire lifecycle of SiC
fibers. By adhering to these regulations, manufacturers can contribute to a
more responsible and environmentally conscious market for SiC fibers.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global
SiC Fibers Market”
A significant contributing factor to the expansion of
the global market is the thriving space exploration sector worldwide. SiC
fibers, known for their exceptional properties of high-temperature resistance,
strength, and lightweight nature, are increasingly being utilized in the
manufacturing of spacecraft, satellites, and other space exploration equipment.
These materials must endure extreme thermal and mechanical stresses during
launch, as well as the harsh conditions of space. Moreover, SiC fibers are employed
to enhance the structural stability of advanced composites used in the
production of space shuttles and satellites. The growing investment and
interest in space exploration activities by governments and private entities
across multiple countries are fueling the demand for high-performance materials
like SiC fibers. Consequently, this trend is driving the market growth on a
global scale.
The Global SiC Fibers Market is segmented into from, end
user, regional distribution, and company.
Based on its form, the continuous segment held the
largest share in the market. Silicon carbide fiber is highly regarded for its
exceptional performance, making it a sought-after material in various high-tech
industries. Its applications span across aerospace, military weaponry, and
equipment, where its remarkable properties are harnessed. Not only is it widely
utilized as a high-temperature resistant material and reinforcement material,
but it also finds increasing use in advanced sports equipment, automobile waste
gas dust collection, and other civil industrial applications. As technology
advances, the versatility and potential of silicon carbide fiber continue to
expand, paving the way for further innovation and advancements in multiple
sectors.
Based on region, North America segment is expected to
grow during the forecast period.
The larger presence of major aircraft manufacturers,
such as Boeing and Airbus, is one of the key factors driving the revenue growth
of the SiC fibers market in this region. With the growing aerospace and defense
sector, there is a high demand for SiC fiber, especially for the manufacturing
and export purposes of aircraft and components. This is due to the exceptional
properties of SiC fiber, including its high strength, lightweight nature, and
resistance to high temperatures and corrosion.
Moreover, the increasing emphasis on research and
development projects for the development of SiC fiber-based products is another
major factor attributing to the revenue growth of the SiC fibers market. These
projects aim to explore the potential applications of SiC fiber in various
industries, including aerospace, automotive, and energy. The unique properties
of SiC fiber make it an attractive choice for these industries, as it can
enhance the performance and efficiency of their products.
According to research, the commercial aviation
industry alone is responsible for 5% of the U.S. Gross Domestic Product (GDP),
which is equivalent to USD 1 trillion annually. This highlights the
significance of the aviation industry and its impact on the economy. The demand
for SiC fibers in the aviation sector is expected to continue to grow, driven
by the need for lighter and more fuel-efficient aircraft, as well as the
increasing focus on sustainability and environmental conservation.
In conclusion, the presence of major aircraft
manufacturers, the growing aerospace and defense sector, and the increasing
R&D projects for SiC fiber-based products are all contributing to the
revenue growth of the SiC fibers market. With the significant role of
commercial aviation in the economy, the demand for SiC fibers in this sector is
expected to remain strong in the foreseeable future.
Major companies operating in Global SiC Fibers Market are:
- American Elements Corp
- BJS Ceramics GmbH
- Free Form Fibers LLC
- GE Aviation LLC
- Haydale Technologies Inc.
- NGS Advanced Fibers Co., Ltd
- Nippon Carbon Co., Ltd
- Saint-Gobain Ltd
- SGL Carbon SE
- UBE Industries Ltd.
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“Growing application of SiC fibers in various end user
industries are key drivers of the SiC fibers market. Growth in competitive
landscape and presence of well-established companies in the market who are
dedicated to enhance their productivity of SiC fibers with every passing year
are anticipated to register an impressive growth to Global SiC Fibers Market in
the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“SiC Fibers Market By Form (Continuous, Woven Cloth,
Others), By End User (Aerospace, Energy & Power, Industrial, Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
SiC Fibers Market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global SiC Fibers Market.
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