Silicon Carbide Fiber Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, China, Canada, UK, Germany - Size and Forecast 2024-2028

Silicon Carbide Fiber Market Size 2024-2028 

The silicon carbide fiber market size is forecast to increase by USD 594.6 million, at a CAGR of 14.76% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for lightweight and high-performance materials in engineering applications, particularly in the aerospace sector. This trend is driven by the need for fuel efficiency and reduced carbon emissions in the aviation industry. Additionally, the rising preference for ceramic fibers, such as silicon carbide, in ceramic matrix composites and reinforced metals for their excellent thermal and mechanical properties is fueling the market growth. However, the high costs associated with the production and processing of silicon carbide fibers remain a challenge for market expansion. Furthermore, the energy-intensive manufacturing process and the limited availability of raw materials are other factors that may hinder market growth. In military applications, the use of silicon carbide fibers in armor and composite materials offers superior ballistic protection, making it a valuable investment for defense budgets. Overall, the market for silicon carbide fibers is expected to continue growing, driven by advancements in engineering, energy resources, and the increasing demand for lightweight and high-performance materials in various industries.

Market Analysis

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Silicon carbide fiber, also known as Sic fiber, is a type of advanced fiber obtained through the chemical vapor deposition (CVD) process. This non-oxide fiber exhibits exceptional properties, including high strength, toughness, and heat resistance, making it a preferred choice in various industries. Sic fiber finds extensive applications in composite materials, super metallic alloys, and oxide ceramic composites. In the aerospace sector, it is used to manufacture woven cloth and fabric forms for composites, which are integral to aircraft components, such as heat-resistant filters, curtains, belts, and sports and leisure equipment.

In addition, the energy and power industries leverage silicon carbide fiber in the production of heat-resistant filters for power generation, while the lightweight materials derived from it are used in the manufacturing of turbine blades, nozzles, and turbine engines for propulsion units in the power generation sector. Moreover, silicon carbide fiber's excellent thermal stability and resistance to oxidation at high temperatures make it an ideal material for use in super alloys and ceramic materials, particularly in the aluminum and titanium industries. The versatility of silicon carbide fiber extends to various applications, including heat exchangers, gas turbines, and industrial furnaces, further cementing its position as a key player in the advanced materials market.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Application
  • Aerospace and defense
  • Energy and power
  • Industrial
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
  • Middle East and Africa
  • South America

By Application Insights

The aerospace and defense segment is estimated to witness significant growth during the forecast period. The aerospace and defense industry is projected to lead the market due to the rising demand for advanced materials in aircraft manufacturing and defense applications. Strict aviation emission regulations have driven the need for lighter and stronger materials, making composites an ideal choice. Silicon carbide fibers, specifically, offer superior properties such as high strength-to-weight ratio, excellent temperature resistance, and fracture toughness. These advantages make silicon carbide fibers a preferred choice for aerospace and defense applications, including super metallic alloys, oxide ceramic composites, carbon fiber composites, and monolithic composites. In the energy and power sector, silicon carbide fibers are used in various applications, including crystalline and amorphous solar panels, fuel cells, and gas turbine engines, due to their high thermal conductivity and resistance to high temperatures.

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The aerospace and defense segment was valued at  USD 142.00 million in 2018 and showed a gradual increase during the forecast period.

Regional Insights

North America is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market is witnessing notable expansion, fueled by the region's thriving aerospace, defense, and energy sectors. In aerospace applications, such as jet engines and structural components, the need for lightweight, high-performance materials is paramount. Silicon carbide fibers, with their superior strength and heat resistance, cater to this demand. The defense industry's investment in advanced materials to fortify military equipment's durability and efficiency is another key factor driving the market's growth. The U.S.'s ongoing military modernization further boosts the demand for these fibers. In the energy sector, particularly in nuclear and power generation industries, silicon carbide fibers are increasingly adopted for their exceptional thermal and mechanical properties. This trend is propelling the growth of the market in North America. Super metallic alloys, oxide ceramic composites, carbon fiber composites, monolithic composites, crystalline, and amorphous materials find extensive use in these industries, further expanding the market's scope.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Market Driver

Increase in demand for silicon carbide fiber in aerospace sector is the key driver of the market. Silicon carbide fibers, also known as SiC fibers, exhibit desirable characteristics such as superior heat resistance, chemical stability, high modulus, and lightweight properties, making them highly sought-after in the aerospace industry. These fibers are utilized in various applications, including insulation for heat engines, the production of nanotubes in turbines, ceramic matrix composites (CMCs), and as alternatives to metallic alloys.

Further, the aerospace sector benefits significantly from the adoption of SiC fibers due to their contribution to weight reduction and enhanced fuel efficiency in aircraft engines. This, in turn, results in environmental and economic advantages for aircraft manufacturers. Incorporated into composite materials, SiC fibers play a pivotal role in the aviation industry, enhancing the performance and durability of aircraft components.

Market Trends

Rising preference for lightweight materials is the upcoming trend in the market. The market's expansion has driven the need for lightweight materials, such as silicon carbide fiber, which offer superior strength and durability. These materials are essential for aircraft manufacturers to gain market share through lighter designs and innovative solutions. Silicon carbide fibers, being lightweight and strong, are increasingly utilized as alternatives to steel and aluminum in engines.

Additionally, the energy and power industry worldwide has embraced the concept of lightweight materials due to their efficiency and performance benefits. Silicon carbide fibers, produced through chemical vapor deposition, exhibit excellent resistance to high temperatures and corrosive gases like CO2 and NOx, making them ideal for use in composite materials in these industries.

Market Challenge

High costs associated with silicon carbide fibers is a key challenge affecting the market growth. The market also known as SiC fibers, is experiencing significant growth due to the increasing demand from industries such as aerospace, power generation, and industrial and chemical sectors worldwide. However, the high cost of producing SiC fibers through chemical vapor deposition (CVD) using gases like CO2 and NOx is a major challenge.

Moreover, the production costs of SiC fiber composites are approximately eight times higher than those of steel, making them less economical compared to other materials like metals, plastics, and polymers. This high cost of production and research and development (R&D) can hinder the growth of the SiC fiber market, particularly in the production of composite materials. Despite these challenges, the unique properties of non-oxide SiC fibers, such as high strength, temperature resistance, and excellent chemical resistance, make them an attractive choice for various applications.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

American Elements - The company offers silicon carbide fiber products such as SIC01FIB.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• BC Partners LLP
• BJS Ceramics GmbH
• Calix Ceramic Solutions
• Compagnie de Saint Gobain
• Free Form Fibers LLC
• General Electric Co.
• Haydale Graphene Industries plc
• Insanco Inc.
• Matech
• Nippon Carbon Co. Ltd
• SGL Carbon SE
• Stanford Advanced Materials
• Suzhou Saifei Group Co. Ltd.
• TISICS
• Triveni Interchem Pvt. Ltd.
• Ube Corp.
• Ultramet

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

Silicon carbide fiber, a type of advanced material, is gaining significant traction in various industries due to its exceptional properties. This fiber is primarily produced through Chemical Vapor Deposition (CVD) using CO2 and NOx as raw materials. The resulting fiber can be classified into two main categories: crystalline and amorphous. The aerospace & defense sector is a major consumer of silicon carbide fiber, particularly in the form of composite materials. These materials offer superior strength, lightweight, and heat resistance, making them ideal for aircraft components such as turbine blades, nozzles, and combustor liners.

Also, silicon carbide fiber also finds applications in the energy industry, including power generation and renewable energy. In the power industry, it is used in super metallic alloys and oxide ceramic composites for the production of lightweight and heat-resistant components. In the energy resources sector, silicon carbide fiber is used in monolithic composites for heat-resistant filters, curtains, belts, and sports & leisure equipment. The industrial sector also utilizes silicon carbide fiber in various applications, including aluminum and titanium alloys, engineering components, and reinforced metals. The chemical industry uses silicon carbide fiber in polymeric materials and ceramic matrix composites. The market is segmented into tier-1 players, mid players, and small players based on their domestic and international presence. The market is expected to grow significantly due to the increasing demand for lightweight materials and high-performance components in various industries.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, APAC, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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