Silicon Carbide Fibers Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Silicon Carbide Fibers Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Silicon Carbide Fibers Market

The global silicon carbide (SiC) fibers market size was valued at USD 712.4 million in 2023, and the market is now projected to grow from USD 886.2 million in 2024 to USD 8,410.5 million by 2032, exhibiting a CAGR of 30.8% during the forecast period.

The disruption inside the aerospace industry because of authority’s stringent restrictions implemented at some stage during COVID-19 outbreak substantially impacted the SiC fibers market. The pandemic induced disturbances within the supply chains, and a freeze in raw material intake activities. This compelled plane manufacturers to temporarily close their factories, resulting in an excessive scarcity. However, the market is projected to get better and reinstate silicon carbide fibers market growth.

Silicon carbide fibers are composed of silicon carbide molecules and are particularly constructed from techniques including laser pushed chemical vapor deposition (CVD) and Yajima. These fibers are acknowledged for their inherent capability to face up to excessive temperatures as much as 2700 degrees. Rapidly growing technological improvements in the production of SiC fibers and growing adoption of these in aerospace enterprise is said to drive silicon carbide fibers market share.

The surging technological advancements to further improve fiber properties are anticipated to offer lucrative marketplace growth opportunities for the SiC fibers in the imminent years. As per the latest trend analysis, multiple corporations and research & development centers are now focusing on the effective fiber product manufacturing in high temperature environments.

Comprehensive Analysis of Silicon Carbide Fibers Market

The silicon carbide (SiC) fibers market is seen rising at an exceptional pace owing to its market segmentation. These market segmentations are systematically bifurcated further into form analysis, usage analysis, application analysis, and region. In terms of form, continuous segment holds the largest market share. As per usage, composite segment takes the lead. However, based on application, aerospace and defense dominate the SiC fibers market.

The North American SiC regional market was valued at USD 390.3 million in 2023. Expeditious industrialization and surging technological improvements in SiC fibers are major contributors for this global dominance. U.S. holds the majority SiC fibers market share in the north American region. The swiftly growing production of SiC fibers, improved R&Ds and, the evolving aerospace industry are prominent factors fueling the SiC demand in U.S.

The key silicon carbide fiber industry dominators have adopted techniques consisting of capacity expansion and user agreements. These market leaders continuously focus on capturing market share. These companies include, NGS Advanced Fibers Co., Ltd. (Japan), Specialty Materials (U.S.), UBE Corporation (Japan), American Elements (U.S.), Nanoshel LLC (U.S.), NINGXIA ANTELI CARBON MATERIAL CO. LTD (China), Suzhou Saifei Group Ltd. (China), Haydale Graphene Industries Plc (U.K.), Matech (U.S.), BJS Ceramics GmbH (Germany), SkySpring Nanomaterials, Inc. (U.S.).

In March 2017, Advanced Composite Materials LLC, agreed to enter into a 4-year agreement. This agreement stated that they were to supply silicon carbide microfiber to the global industrial manufacturer of tooling and wear resistant solutions. The agreement was said to have USD 2.6 million potential sales value.

Segmentation Table

Silicon Carbide Fibers Market Scope

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 30.8% from 2024-2032

Unit Value (USD Million); Volume (Kiloton)

Segmentation By Form, By Usage, By Application, By Geography

By Form Continuous

Woven

Others

By Usage Composites

Non-composites

By Application

Aerospace & Defense

Energy & Power

Industrial

Others

By Geography North America (By Form, By Usage, By Application, By Country)

- U.S. (By Application)

- Canada (By Application)

Europe (By Form, By Usage, By Application, By Country)

- Germany (By Application)

- Italy (By Application)

- France (By Application)

- U.K. (By Application)

- Rest of Europe (By Application)

Asia Pacific (By Form, By Usage, By Application, By Country)

- China (By Application)

- Japan (By Application)

- India (By Application)

- South Korea (By Application)

- Rest of East Asia (By Application)

Rest of World (By Form, By Usage, By Application, By Country)

- Middle East (By Application)

- Africa (By Application)


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