The SiC fibers market is projected to reach USD 1,113.3 million by 2022, from an estimated USD 240.0 million in 2017, at a CAGR of 35.9% between 2017 and 2022. Increasing use of SiC fibers in commercial and military aircraft engines is driving the growth of the SiC fibers market across the globe. However, high processing and manufacturing costs of SiC fibers are restraining the growth of the SiC fibers market during the forecast period.
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SiC fibers in composites usage is expected to lead the SiC fiber market during the forecast period SiC fibers are mainly used as reinforcements in Polymer Matrix Composites (PMCs), CMCs, and MMCs. These are most widely used for CMC components. SiC fiber-reinforced CMC components are used in turbine engines and nuclear reactors. SiC-reinforced PMC components are used in heat-resistant filters and curtains, belts, and sports & leisure equipment. However, SiC fiber-reinforced PMCs are yet to be completely commercialized. The non-composite applications of SIC fibers are very limited owing to the high cost of fibers. These are used in chemical and heat transfer industries in high-temperature applications.
The North America SiC fibers market is projected to grow at the highest CAGR in terms of both, value and volume between 2017 and 2022
North America is expected to be the fastest-growing market for SiC fibers during the forecast period owing to the high demand from LEAP engine manufacturers. The US leads the market for SiC fibers in North America. The penetration of SiC fibers in the US aerospace industry is expected to increase due to the establishment and capacity expansions for the production of SiC fibers by major SiC fiber manufacturers, increased budgets for defense aircraft programs, and growth in the aerospace industry due to stable economies.
In the process of determining and verifying the market sizes gathered through secondary research for the SiC fibers market, its segments and subsegments, extensive primary interviews have been conducted. The breakdown of these primary interviews has been given as follows:
• By Company Type: Tier 1—10%, Tier 2—25%, and Tier 3—65%.
• By Designation: C-level—10%, Director Level—30%, and Others—60%
• By Region: North America—20%, Europe—15%, Asia Pacific—45%, Latin America—11%, and the Middle East & Africa—9%
SiC fibers are also being used in other end-use industries such as energy & power, industrial, and others.
The key players profiled in the report are as follows:
- Ube Industries (Japan),
- NGS Advanced Fiber (Japan),
- Suzhou Saifei Group (China),
- Haydale Technologies (US),
- Matech (US),
- Specialty Materials (US),
- COI Ceramics (US)
- GE Aviation (US)
- BJS Ceramics (Germany)
- Toshiba (Japan)
Research Coverage This report covers the global SiC fibers market and forecasts the market size till 2022. The report includes market segmentation on the basis of form, usage, end-use industry, and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). The Porter’s Five Force analysis, along with drivers, restraints, challenges, and opportunities of the market have been discussed in the report. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
REASONS TO BUY THE REPORT
The report is expected to help market leaders/new entrants in the SiC fibers market in the following ways:
- This report segments the SiC fibers market comprehensively and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different verticals and regions.
- The report is expected to help stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
- This report is expected to help stakeholders understand competitors and gain insights to enhance their positions in the SiC fibers market. The competitive landscape section includes the ecosystem of competitors, investments & expansions, new product launches, and agreements.
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