Yahoo Finance Silicon Carbide Fibers Market Is Expected To Reach around USD 3,758.4 Million by 2030, Grow at a CAGR Of 30.8% during Forecast Period 2023 To 2030 | Data By Contrive Datum Insights Pvt Ltd.
According to a market research study published by Contrive Datum Insights, In North America, the market was worth USD 276.8 million in 2021.
Farmington, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The Global Silicon Carbide Fibers Market Size Was Valued At USD 501.9 Million In 2021. The Market Is Projected To Grow From USD 572.8 Million In 2022 To USD 3,758.4 Million By 2030, Exhibiting A CAGR Of 30.8% During The Forecast Period. The COVID-19 pandemic has been shocking and has never happened before. Because of this, the demand for silicon carbide fibres is lower than expected in all areas compared to before the pandemic. Our research shows that the world market was 14.0% smaller in 2020 than in 2019.
Silicon carbide (SiC) fibres are made up of molecules of silicon carbide, and most of them are made using methods like laser-driven Chemical Vapor Deposition (CVD) and Yajima. People know that these fibres can withstand up to 2,700 degrees Fahrenheit. Because of these qualities, they are the best choice for gas turbines and nuclear power plants. During the review period, the global market for silicon carbide fibres will grow. This is because technology is getting better at making SiC-based fibres, and the aerospace industry is making parts out of lighter materials.
Request Sample Copy of Report “Silicon Carbide Fibers Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
Recent Developments:
March 2017: Advanced Composite Materials LLC, a subsidiary of Haydale Graphene Industries Plc, has signed a four-year contract to supply SiC microfibers to a global industrial manufacturer of tooling and wear resistance solutions. The contract has a potential sales value of over US$2.6 million over the initial four years.
Segment Overview
Form Insights
Based on how they are made, the market can be broken down into continuous, woven, and other types. The continuous segment had the biggest share of the market, and this is likely to stay the case over the next few years. Continuous fibres work well in places with a lot of radiation, so the industry that makes nuclear power is very interested in them. Also, reinforced ceramic matrix composites and reinforced continuous filaments are both very strong and save a lot of weight. So, these things would keep the growth of the segment going.
Usage Insights
Based on how they are used, the SiC fibres market is divided into composites and non-composites. From 2022 to 2029, the composites segment is expected to grow at the fastest rate. Reinforced with non-oxide silicon carbide fibres, composites work well as building materials and in harsh environments. Composites can't be compared to metal superalloys or one-piece composites because of these differences. Also, these composites are made to last a certain amount of time and be able to handle a certain amount of stress, temperature, and environmental conditions. This helps the segment grow.
Application Insights
Based on how it is used, the market is divided into aerospace and defence, energy and power, industrial, and other. In 2021, the largest part of the market was made up of aerospace. More and more fibres are being used in the aerospace industry, especially in aircraft engines, turbopumps, and heat-protecting systems. It is able to grow because it is light and can stand up to heat.
Regional Outlook:
In North America, the market was worth USD 276.8 million in 2021. Because North America is becoming more industrialised and has better technology, the market for SiC fibres has grown there. The U.S. has the biggest share of the market in this area. The main things that are driving the demand for this product in this country are the rise in research and development, the growth of the aerospace industry, and the rise in the production of silicon carbide fibres.
This shows how quickly industry is growing in Europe, where there is a lot of demand for the product. SiC-based products are being used more and more in industrial machinery for things like preheaters, radiant tubes, and recuperators.
In Asia-Pacific, where the market is growing, most of it is because energy and power applications need more continuous fibres. Because continuous fibres are stronger and can handle higher temperatures, this is the case.
Buy this Premium Research Report@
https://www.contrivedatuminsights.com/buy/248505/?Mode=PM
Scope of Report:
Report Attributes | Details |
Growth Rate | CAGR of 30.8% from 2023 to 2030. |
Revenue Forecast by 2022 | USD 572.8 Million |
By Type | Continuous, Woven, Others |
By Usage | Composites, Non-composites, Others |
By Application | Aerospace & Defense, Energy & Power, Industrial, Others |
By Companies | 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.) |
Regions and Countries Covered |
|
Base Year | 2022 |
Historical Year | 2017 to 2022 |
Forecast Year | 2023 to 2030 |
Trends:
As technology gets better and makes fibres better, it will give the market a lot of good chances to grow.
At first, it was hard to find silicon carbide fibres, so they were expensive. Most of these fibres for sale were made in Japan and the United States. Because of this, companies all over the world found new ways to make a lot of SiC-based fibres. Many businesses and research and development centres try to figure out how to make things work well in hot places. For example, NASA has a patent on Sylramic-iBN, a fibre made of silicon carbide that is safe and can withstand temperatures up to 1,500°C. So, if these people all worked together, it would be easier to find new ways to make fibres, which would lead to mass production. During the time period predicted, the market will have a lot of good chances to grow because the technology for making fibres keeps getting better.
Driving Factors:
Ceramic metric composites will be used more as demand from different industries grows.
The market will grow over the next few years because more Ceramic Matrix Composites (CMCs) are using silicon carbide fibres. The growth can be explained by its good qualities, such as its high mechanical strength and high heat resistance. Also, SiC fibre has great qualities, such as being resistant to corrosion and oxidation, having a resistivity that can be changed, and being light. This makes it stand out from other inorganic fibres and makes it a great reinforcement for CMCs.
Restraining Factors:
Cost is too much the market can't grow much because of how much it costs to make.
Because they are so expensive, silicon carbide fibres aren't used as much as they could be. Silicon carbide keeps getting better, which means that machines need to get bigger. This makes the total cost go up, which makes SiC-based fibres cost more. Also, silicon carbide is hard to find in nature. To make the compound from Si, companies have to use a lot of furnace techniques. Because of this, it changes how much it costs to make and process things. So, these things are a big reason why the market won't grow much over the next few years.
Key Segments Covered:
Top Market Players:
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.), and others.
By Type
Continuous
Woven
Others
By Type
Composites
Non-composites
Others
By Application
Aerospace & Defense
Energy & Power
Industrial
Others
Regions and Countries Covered
North America: (US, Canada, Mexico, Rest of North America)
Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
Latin America: (Brazil, Argentina, Rest of Latin America)
Rest Of the World
Check out more related studies published by Contrive Datum Insights:
Water and Wastewater Treatment Market - The Global Water And Wastewater Treatment Market Size Was Valued At USD 281.75 Billion In 2021. The Market Is Projected To Grow From USD 301.77 Billion In 2022 To USD 489.07 Billion By 2029, Exhibiting A CAGR Of 7.1% During The Forecast Period.
Roofing Materials Market - The Global Roofing Materials Market Size Was Valued At USD 86.56 Billion In 2021. The Market Is Projected To Grow From USD 88.85 Billion In 2022 To USD 112.47 Billion By 2029, Exhibiting A CAGR Of 3.4% During The Forecast Period.
Olive Oil Market- The Global Olive Oil Market Size Was Valued At USD 13.77 Billion In 2021. The Market Is Projected To Grow From USD 14.19 Billion In 2022 To USD 17.79 Billion By 2030, Exhibiting A CAGR Of 3.28% During The Forecast Period.
Customization of the Report: The report can be customized as per client needs or requirements.For any queries, you can contact us on anna@contrivedatuminsights.com or +1 215-297-4078. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
Social: Facebook / LinkedIn / Twitter
Contact Us:
Anna B. | Head Of Sales
Contrive Datum Insights
Phone: +91 9834816757 | +1 2152974078
Email: anna@contrivedatuminsights.com
Website:
https://www.contrivedatuminsights.com
Contrive Datum Insights Press Releases
Latest Contrive Datum Insights Latest Reports
