|
Forecast
Period
|
2024-2028
|
|
Market
Size (2022)
|
USD435.24 million
|
|
CAGR
(2023-2028)
|
8.88%
|
|
Fastest
Growing Segment
|
Continuous
|
|
Largest
Market
|
North
America
|
Market Overview
Global
SiC Fibers Market has valued at USD435.24 million in 2022 and is anticipated to
project robust growth in the forecast period with a CAGR of 8.88% through 2028.
SiC (silicon carbide) fibers are predominantly composed of silicon carbide
molecules, imparting them with remarkable properties such as high stiffness,
exceptional tensile strength, superior chemical resistance, and low thermal
expansion. These fibers are manufactured using various techniques including the
Yajima process, chemical vapor deposition (CVD), and laser-driven chemical
vapor deposition (LCVD). Continuous research and development efforts are being
undertaken to expand the application areas of these fibers.
For
instance, silicon carbide fibers are often reinforced with SiC composite
matrices, making them ideal for high-temperature structural applications such
as in gas turbine engines. These fibers exhibit remarkable resilience and
durability under the influence of extreme temperature conditions, with the
ability to withstand temperatures up to 2700 degrees Fahrenheit. Furthermore,
their capacity to be engineered to meet specific stress levels and operate
across a wide temperature range makes them a preferred choice over other
materials such as metallic superalloys, monolithic ceramics, carbon fiber
composites, and oxide/oxide ceramic composites.
The
global SiC fiber market is witnessing significant growth, driven by the
increasing demand for silicon carbide fibers in the aerospace sector and the
adoption of SiC fibers in the energy and power industry. SiC fibers possess a
unique set of characteristics including high heat resistance, chemical
stability, high modulus, lightweight nature, durability, and more. These
attributes make them highly suitable for a wide range of aerospace
applications, including insulation for heat engines, nanotubes in turbines,
ceramic matrix composites (CMC), and alternatives to metallic alloys.
Furthermore,
the utilization of SiC fibers in the aerospace industry brings both
environmental and economic benefits to aircraft manufacturers. By significantly
reducing the weight of aircraft engines and improving fuel efficiency, SiC
fibers contribute to reduced emissions and operational costs.
However,
the global SiC fiber market has been impacted by the ongoing COVID-19 pandemic,
which has disrupted the demand and supply chain across various sectors. With
more than 100 countries implementing travel restrictions and trade limitations,
international transportation and non-essential trade activities have been
severely affected. Manufacturing industries are also operating at reduced
capacities due to the risk of infection among the workforces. Additionally, the
liquidity crunch and financial crisis have led to decreased demand for silicon
carbide (SiC) fibers. The imposition of lockdown measures in countries with
prominent aerospace and defense sectors, such as the U.S., France, China,
India, Germany, and others, has further contributed to the decline in demand
for SiC fibers.
Key Market Drivers
Growing
Demand of SiC Fibers in Construction Industry
Silicon
carbide fibers are synthetic fibers known for their exceptional mechanical,
chemical, and thermal properties. They exhibit remarkable stability even in the
most extreme conditions, making them highly sought after in various industries.
These fibers find their main applications as reinforcement materials for
polymers, metals, and ceramics, as well as heat-resistant materials for
furnaces and brake components for airplanes.
In
recent years, the construction industry has experienced a significant surge in
the use of silicon carbide fibers. The unparalleled properties of SiC fibers,
such as their exceptional strength, lightweight nature, and resistance to high
temperatures and harsh environments, make them an ideal choice for a wide range
of construction applications. These fibers are increasingly being integrated
into building and infrastructure projects, including bridges, tunnels, and
high-rise buildings, to enhance their structural integrity and longevity.
The
growing demand for lightweight, durable, and heat-resistant materials in the
construction industry is of a key driver behind the increasing adoption of SiC
fibers. By incorporating these fibers, structures become more resilient to
environmental factors and natural disasters, ensuring their long-term
durability. Furthermore, as the construction industry continues to prioritize
sustainability and resilience in building solutions, the role of SiC fibers is
expected to become even more significant, fueling the growth of the global SiC
fibers market.
With
their exceptional properties and increasing demand in the construction
industry, silicon carbide fibers are poised to revolutionize the way structures
are built, offering enhanced performance and longevity while contributing to a
more sustainable future.
Growing
Demand of SiC Fibers in Automotive Industry
Silicon
carbide fibers, known for their exceptional mechanical, chemical, and thermal
properties, have garnered significant attention in various industries. These
synthetic fibers exhibit remarkable stability even in the most extreme
conditions, making them highly sought after. Typically used as reinforcement
materials for polymers, metals, and ceramics, as well as heat-resistant
materials for furnaces and brake applications in aircraft, SiC fibers have
recently witnessed a notable surge in demand within the automotive industry.
The
automotive sector has recognized the unparalleled advantages of SiC fibers,
including their high strength, lightweight nature, and resistance to elevated
temperatures and harsh environments. These unique properties position SiC
fibers as an ideal choice for a wide range of automotive applications. From
enhancing the durability of engine components to optimizing the performance of
electric vehicle batteries, SiC fibers contribute to revolutionizing the
automotive landscape.
The
growing need for lightweight, durable, and heat-resistant materials in the
automotive industry has driven the rapid adoption of SiC fibers. By leveraging
these fibers, not only can vehicle performance be enhanced, but fuel efficiency
can also be improved, leading to a reduction in carbon emissions. As the
automotive industry continues its pursuit of sustainable and efficient
solutions, the role of SiC fibers becomes increasingly crucial, fueling the
growth of the global SiC fibers market.
With
their exceptional properties and versatility, SiC fibers are poised to play a
pivotal role in shaping the future of various industries, including automotive,
aerospace, and manufacturing. As research and technological advancements
continue to unfold, the potential applications and benefits of SiC fibers are
expected to expand, propelling innovation and progress in the global market.
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Key Market
Challenges
Volatility
in Supply of Raw Materials
Silicon
carbide fibers are highly regarded synthetic fibers due to their exceptional
properties such as high strength, lightweight nature, and remarkable thermal
stability even under extreme conditions. These fibers find extensive use as
reinforcement materials in a wide range of applications, including polymers,
metals, ceramics, and other areas where heat resistance is crucial. The
production of SiC fibers involves intricate processes and necessitates specific
raw materials, such as silica, which plays a vital role in their manufacturing.
The
SiC fibers market is susceptible to volatility in the supply of raw materials,
which can have significant implications. For instance, any disruption in the
supply of silica can adversely impact the production of SiC fibers. This
volatility can stem from various factors, including geopolitical issues, trade
restrictions, logistical challenges, and fluctuations in demand and supply
dynamics.
Moreover,
the global decline in the demand for raw materials has resulted in reduced
stockpiling by businesses, thereby affecting the overall supply chain.
Additionally, the 2023 Critical Materials Assessment takes into account the
economic importance and supply risk associated with non-energy raw materials,
including those required for SiC fibers, during the 2016–2020 period.
It
is important to note that the challenge of raw material supply volatility is
not unique to the SiC fibers market. Many other industries, including the
graphite market, face similar issues where price volatility arises due to
imbalances in supply and demand.
By
understanding and addressing these challenges, industries can strive to
mitigate the impact of raw material supply volatility and ensure a more stable
and sustainable supply chain for essential materials like SiC fibers.
Key Market Trends
Development
of SiC/SiC Composites
Silicon
carbide fibers are synthetic fibers known for their exceptional mechanical,
chemical, and thermal properties. These fibers exhibit high stability even in
the most extreme conditions, making them highly desirable for a wide range of
applications. They are primarily used as reinforcement materials for polymers,
metals, ceramics, and other materials that require exceptional heat resistance.
On
the other hand, SiC/SiC composites are a type of ceramic matrix composite (CMC)
that are predominantly composed of SiC fibers embedded within a SiC matrix.
This unique combination results in a material that not only retains the
advantageous properties of SiC fibers but also enhances them further. The SiC
fibers provide excellent strength and high-temperature stability, while the SiC
matrix ensures exceptional resistance to oxidation.
The
development and increasing utilization of SiC/SiC composites have had a
significant impact on the SiC fibers market. These composites are being
increasingly adopted in various industries due to their superior properties,
making them particularly valuable in sectors such as aerospace, nuclear energy,
and automotive. In these industries, SiC/SiC composites are employed in
components that need to withstand high temperatures and harsh environments.
Furthermore,
the growing demand for efficient, durable, and lightweight materials across
different industries is expected to further drive the use of SiC/SiC
composites, thereby propelling the SiC fibers market to new heights.
Segmental Insights
Form
Insights
Based
on the category of form, the continuous segment emerged as the dominant player
in the global market for SiC Fibers in 2022. These advanced fibers have proven
to deliver exceptional performance even in high-radiation environments, making
them highly sought after by the nuclear power generation industry. The majority
of ceramic matrix composites that are reinforced with continuous filaments not
only offer superior weight savings, but also exhibit remarkable toughness. As a
result, these products are extensively utilized in the production of large
critical components within the aerospace and defense industry. Moreover, the
ease of handling fiber tows allows for the production of complex-shaped
composites, further expanding their range of applications.
End
User Insights
The
aerospace segment is projected to experience rapid growth during the forecast period.
The rising application scope of silicon carbide fibers in aircraft
manufacturing can be attributed to several factors. Silicon carbide fiber
composites are increasingly being used in the manufacturing of components for
the turbine and combustion section of aero-propulsion engines. This trend is
expected to drive the demand for silicon carbide fibers, as these composites
offer high performance and durability.
One
of the key advantages of silicon carbide fibers reinforced composites is their
ability to replace metal parts in aircraft. This substitution is primarily
driven by the lightweight nature and excellent heat resistance of silicon
carbide fibers. By utilizing these composites, aircraft manufacturers can
enhance the fuel efficiency of aircraft engines, resulting in cost savings and
environmental benefits.
Furthermore,
the increasing use of ceramic matrix composites, which are manufactured using
silicon carbide fibers, in high-pressure turbine shrouds is expected to further
drive the growth of the silicon carbide fibers market in the forecast period.
Overall,
the expanding application areas and the unique properties of silicon carbide
fibers position them as a promising material in the aerospace industry, with
significant potential for growth in the coming years.
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Regional Insights
North
America emerged as the dominant player in the Global SiC Fibers Market in 2022,
holding the largest market share in terms of value. The aerospace and defense
industry in the U.S. has experienced remarkable growth in production output.
This growth can be attributed to increased shipments of general aviation
aircraft, civil space systems, and commercial aircraft. Looking ahead, the aerospace
and defense industry in the region is expected to witness rapid growth driven
by rising manufacturing output. This surge in output is primarily fueled by
high domestic and international demand for commercial aircraft. Additionally,
the region's defense expenditure is on the rise, further contributing to the
industry's expansion. Moreover, the increasing investments for NASA are
expected to propel the demand for silicon carbide fibers, creating additional
opportunities in this dynamic sector.
Recent Developments
- On
12 October 2021, LiqTech International Inc., a leading clean technology company
specializing in the manufacturing and marketing of highly specialized
filtration technologies, proudly announced the receipt of its first major
Middle East Oil and Gas order. Valued at approximately USD 4 million in sales,
this significant order is destined for the joint venture, in which LiqTech owns
a 49% stake. The joint venture is dedicated to delivering LiqTech's proprietary
silicon carbide ceramic filtration technology to address the pressing water
shortages faced by Middle East oil and gas operators. This milestone not only
highlights LiqTech's commitment to providing innovative solutions but also
emphasizes the increasing global recognition of their cutting-edge filtration
technologies.
- On
26 April 2021, Mersen, a renowned global expert in electrical power and
advanced materials, made an exciting announcement regarding its participation
in Airbus Defence and Space's prestigious Pléiades Neo satellite constellation
project. Pléiades Neo is an extraordinary constellation of four Very
High-Resolution (VHR) earth observation satellites, revolutionizing the realm
of earth imaging. Each satellite is equipped with a state-of-the-art silicon
carbide imaging system, boasting an impressive resolution of 30 cm and an
incredible daily coverage of 2 million square kilometers. Mersen plays a
pivotal role in this groundbreaking project by providing the essential silicon
carbide optical instrument components for each of the four observation
satellites. These components include meticulously crafted structures, mirrors,
and detector supports, ensuring the unparalleled performance and accuracy of
the satellite imaging system. This collaboration between Mersen and Airbus
Defence and Space represents a remarkable advancement in satellite technology,
enabling enhanced earth observation capabilities and unlocking new
possibilities for scientific research, environmental monitoring, and various
other applications across the globe.
Key Market Players
- 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.
|
By Form
|
By End User
|
By Region
|
- Continuous
- Woven Cloth
- Others
|
- Aerospace
- Energy & Power
- Industrial
- Others
|
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
|
Report
Scope:
In
this report, the Global SiC Fibers Market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
- SiC Fibers Market, By Form:
o Continuous
o Woven Cloth
o Others
- SiC Fibers Market, By End User:
o Aerospace
o Energy & Power
o Industrial
o Others
- SiC Fibers Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
§ Turkey
§ Egypt
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Global SiC Fibers Market.
Available
Customizations:
Global
SiC Fibers Market report with the given market data, Tech Sci Research offers
customizations according to a company's specific needs. The following
customization options are available for the report:
Company
Information
- Detailed analysis and profiling of additional
market players (up to five).
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SiC Fibers Market is an upcoming report to be released soon. If you wish an
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