PUNE, India, December 5, 2017 /PRNewswire/ --
The report "SiC Fibers Market by Form (Continuous, Woven Cloth), Usage (Composites, Non-Composites), End-use Industry (Aerospace & Defense, Energy & Power, Industrial), and Region - Global Forecast to 2022" published by MarketsandMarkets™, the market is projected to reach USD 1,113.3 Million by 2022 from USD 240.0 Million in 2017, at a CAGR of 35.9% from 2017 to 2022. The major factors fueling the growth of the SiC fibers market across the globe are the increasing use of SiC fibers in commercial and military aircraft engines.
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Increasing use of SiC fibers in commercial aircraft engines is expected to drive the growth of the SiC fibers market from 2017 to 2022
SiC fiber based CMCs are the preferred materials for high-temperature applications in aerospace engines due to their properties such as high strength; excellent creep, oxidation, and corrosion resistance; and low density. SiC fibers also have excellent high-temperature oxidation and creep resistance up to 2,732°F. Therefore, these fibers witness high demand from CMC and aircraft engine manufacturers for engine components such as shrouds and combustor liners. These are also used for vanes, exhaust nozzles, Thermal Protection Systems (TPS), thruster nozzles, reusable rocket nozzles, and turbopump components for space vehicles.
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Among various forms, the continuous is projected to lead the SiC fibers market during the forecast period in terms of both, volume and value
The continuous form of SiC fibers accounted for over 55.54% of the global SiC Fiber Market. There is an increasing demand for the continuous form of SiC fibers from composites manufacturers. These fibers are preferred for aircraft engines owing to their low weight, high strength, and ability to survive at very high temperatures without being oxidized. As the demand for SiC fiber based composites is increasing across the globe, several companies are investing in establishing and expanding production capacities of their SiC fiber manufacturing plants.
North America is the largest market for SiC fibers across the globe.
North America is the largest consumer of SiC fibers across the globe. In addition, the North American SiC fibers market is projected to grow at the highest CAGR in terms of both, value and volume during the forecast period from 2017 to 2022. The increasing use of SiC fibers in commercial and military aircraft engines is a major factor driving the growth of the SiC fibers market in North America. Moreover, the presence of major aircraft engine manufacturers and mass production of SiC fibers planned by GE Aviation (US) is expected to drive the growth of the North American SiC fibers market.
Some of the key players in the global SiC Fiber Market are Ube Industries(Japan), NGS Advanced Fiber (Japan), Suzhou Saifei Group (China), Haydale Technologies (US), Matech (US), Specialty Materials (US), and COI Ceramics (US). GE Aviation (US) and BJS Ceramics (Germany) are planning to begin large-scale SiC fiber production in 2019. Expansions and new technology developments are the key strategies adopted by the major players for growth of their business revenues.
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