The Worldwide SiC Fibers Industry is Expected to Reach $1.2 Billion by 2025 at a CAGR of 27% from 2020 - ResearchAndMarkets.com

The "Global SiC Fibers Market by Type (First, Second, Third Generation), Form (Continuous, Woven, Others), Phase (Amorphous, Crystalline), Usage (Composites, Non-Composites), End-use Industry, and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global SiC fibers market is projected to grow from USD 382 million in 2020 to USD 1,262 million by 2025, at a compound annual growth rate (CAGR) of 27% between 2020 and 2025.

SiC fibers are advanced and have high-performance characteristics. These fibers are used as reinforcements for Ceramic Matrix Composites (CMCs), Polymer Matrix Composites (PMCs), and Metal Matrix Composites (MMCs). However, the negative impact of the COVID-19 pandemic across all the end-use industries has affected the SiC fibers market adversely.

Third generation SiC fibers are the fastest-growing segment in the SiC fibers market in terms of both value and volume

The third-generation SiC fibers are the most lucrative type that are witnessing increased demand from hot sections of aircraft engines. These fibers are expected to register the highest CAGR during the forecast period in terms of value and volume. NGS Advanced fibers Co., Ltd., COI Ceramics, Inc., Ube Industries, Ltd., and Specialty Materials, Inc., are some of the major players providing third-generation SiC fibers. The mass production of these fibers is expected to reduce the cost during the forecast period.

Continuous form is anticipated to grow at highest CAGR in terms of value and volume

The continuous form of SiC fibers are projected to register the highest CAGR. SiC continuous fibers, also known as tow, are used as reinforcement materials for PMC, CMC, and MMC. These fibers have excellent heat and creep failure in extreme conditions. Major SiC fiber manufacturers offer SIC fibers in continuous tow forms.

Crystalline SiC fibers are expected to grow at a faster rate in terms of both value and volume

The crystalline phase segment of SiC fibers is expected to register higher growth as compared to the amorphous phase segment during the forecast period. Crystalline SiC fibers have negligible oxygen and carbon content, due to which they can survive in high oxidation environments. Hi-Nicalon S, KD-S, Tyranno SA, Sylramic, Sylramic-iBN, KD-SA are some of the major trademarks of SiC fibers that are in the crystalline phase.

Composites usage dominated the SiC fibers market in terms of both value and volume

SiC fibers are mainly used as reinforcements in PMCs, CMCs, and MMCs. However, CMC applications of SiC fibers dominate the market. The non-composite applications of SIC fibers are very limited owing to the high cost of fibers. They are used in chemical and heat transfer industries in high-temperature applications.

Aerospace & defense is the largest end-use industry of SiC fibers in terms of both value and volume

SiC fibers find high demand from aircraft engine manufacturers to make engine components such as shrouds and combustor liners. This is because the SiC fiber-based CMCs have high-performance properties such as high strength; excellent creep, oxidation, and corrosion resistance; and low density. SiC fibers also have excellent oxidation and creep resistance up to 2,732F. They are also used in vanes, exhaust nozzles, Thermal Protection Systems (TPS), thruster nozzles, reusable rocket nozzles, and turbo pump components for space vehicles.

North America is the leading SiC fibers market in terms of both value and volume

North America accounted for the major share in the SiC fibers market, followed by Europe and APAC. The robust aerospace & defense industry, government support for aerospace & defense industry, presence of major SiC fiber manufactures and pilot production by GE Aviation are triggering the growth in the region.

Market Dynamics

Drivers

• Government Stimulus Package for the Aerospace Industry Amid the COVID-19 Crisis
• Capacity Expansions due to Rise in Production of Leap Engines
• Increase in Demand for Fuel-Efficient Aircraft
• Increased Investments in Manufacturing SiC Fiber-Based CMCs for Land-Based Gas Turbine Engines

Restraints

• High Cost of SiC Fibers
• Decrease in the Number of Aircraft Deliveries and Reduced Aircraft Production
• Disruption in the Supply Chain and Lower Production Capacity Utilization due to COVID-19 Pandemic

Opportunities

• Increase in R&D for Manufacturing Accident-Tolerant and Lightweight Nuclear Reactors
• Reduction of SiC Fiber Costs
• Emergence of Chinese Players
• Boeing 737 Max Coming Back into Operation and FAA Clearance for GE9X

Challenges

• Technological Challenges in Manufacturing Low-Cost SiC Fibers
• Maintain Uninterrupted Supply Chain and Operate at Full Production Capacity
• Liquidity Crunch

Companies Mentioned

• Applied Nano Structured Solutions, LLC
• BJS Ceramics
• Centre Nat Rech Scient
• COI Ceramics, Inc.
• GE Aviation
• General Electric Company
• Haydale Technologies
• Herakles
• Institute of Energy Science & Technology
• MATECH
• Nasa Glenn Research Center
• National University of Defense & Technology
• NGS Advanced Fibers
• Ningbo Zhongxing New Materials Co. Ltd.
• Safran Ceramics
• Specialty Materials, Inc.
• Suzhou Saifei Group
• Tisics Ltd.
• Toshiba
• Ube Industries

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