SiC Fibers Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: SiC Fibers Market covers analysis By Form (Continuous, Woven Cloth, and Others), Usage (Composites and Non-Composites), and End-Use Industry (Aerospace & Defense, Energy & Power, Industrial, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPRE00006810
  • Category : Chemicals and Materials
  • Status : Upcoming
  • No. of Pages : 132
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The SiC fibers market size is expected to grow from US$ 450.93 million in 2021 to US$ 1,243.90 million by 2028; it is estimated to grow at a CAGR of 18.5% from 2022 to 2028.

SiC fibers are primarily composed of silicon carbide molecules, generally ranging from 5 μm to 50 μm in diameter. High temperature capability, lower thermal expansion, lower density, higher oxidative durability, lower permeability, low weight, greater strength, and better thermal conductivity are the key properties of SiC fibers that contribute to their popularity in the aerospace & defense, energy & power, and industrial sectors. As compared with carbon fiber, silicon carbide fiber maintains good performance under extreme conditions. Owing to its good performance, it has attracted huge attention in high-tech fields such as aerospace, military weapons and equipment, and it is commonly used as high-temperature resistant material and reinforcement material. SiC fibers are highly used in high-performance ceramic matrix or metal matrix composites. Common silicon carbide metal matrix composites include silicon carbide reinforced aluminum matrix composites, silicon carbide reinforced titanium matrix composites, silicon carbide reinforced magnesium matrix composites, silicon carbide reinforced copper matrix composites, etc. Silicon carbide can tolerate heat and radiation in nuclear power plants due to features such as strong tensile strength and limited thermal expansion.

In 2021, North America held the largest revenue share of the global SiC fibers market. The market in this region is segmented into countries such as the US, Canada, and Mexico; the US is a significant contributor to the regional market. The SiC fiber market growth in North America is mainly attributed to their use in industries such as energy & power, aerospace, chemical manufacturing, and power generation and nuclear power generation. Moreover, these fibers are being used in commercial and military aircraft engines. Many domestic and international companies have a strong foothold in North America. These companies are striving to bring innovations in their products, along with improving their characteristics and quality.

Strategic Insights

SiC Fibers Market Breakdown –by RegionSiC Fibers Market Breakdown –by Region

Market Insights

Growing Demand from Various Industries Fuels SiC Fibers Market

SiC fibers are ideal for applications in industries such as aerospace & defense, power & energy, chemicals, and automotive owing to their properties such as high strength, low weight, high temperature-stability, and oxidation and corrosion resistance. The aircraft manufacturers are constantly focused on improving the performance of their commercial and military aircraft models, which indicates the demand for high-performance structural materials. Superior physical properties and stiffness-to-density ratios, coupled with exceptional strength, have also contributed to the acceptance of these materials in the aviation and aerospace industries. Further, SiC fibers are being used in the power generation industry in the manufacturing of land-based gas turbine engines, radiation blankets, furnaces, and components and other materials. They are also used as a key component in reactors, heat exchangers, reformers, and filters in the chemicals industry. Moreover, they are also used in the production of preheaters, recuperators, and radiant tubes in the heat transfer industry. Thus, the growing user base is boosting the demand for SiC fibers.

Form Insights

Based on form, the global market is segmented into continuous, woven cloth, and others. The SiC fibers market share for the continuous form segment was largest in 2021. SiC continuous fibers are highly used in aerospace applications, weaponry, and nuclear environments. The continuous fibers exhibit high corrosion and heat resistance, and high strength. Continuous SiC fibers are developed as the reinforcement of ceramic matrix composites for high-temperature structural applications. The continuous SiC fibers contain fine filaments of ultrafine ß-SiC crystals that are responsible for their strong particle bonding.

SiC Fibers Market, by Form – 2021 and 2028

SiC Fibers Market, by Form – 2021 and 2028

Usage Insights

Based on usage, the SiC fibers market is segmented into composites and non-composites. The SiC fibers market share for the composites segment was largest in 2021. The composites usage comprises of ceramic matrix composites (CMC), polymer matrix composites (PMC) and metal matrix composites (MMC). The ceramic matrix composite is a system of materials that are made of ceramic fibers or materials available in a ceramic matrix phase.

Key players operating in the SiC fibers market include American Elements; BJS Ceramics GmbH; COI Ceramics, Inc; General Electric Company; Haydale Technologies Inc.; Matech; NGS Advanced Fibers Co., Ltd.; Specialty Materials, Inc.; Suzhou Saifei Group Co., Ltd; and Ube Industries, Ltd. Players operating in the SiC fibers market are focusing on providing high-quality products to fulfill customer demand. They are also focusing on strategies such as investments in research & development activities and new product launches.

Report Spotlights

  • Progressive industry trends in the SiC fibers market to help players develop effective long-term strategies
  • Business growth strategies adopted by companies developed and developing markets
  • Quantitative analysis of the SiC fibers industry from 2020 to 2028
  • Estimation of global demand for SiC fibers
  • PEST analysis for each region
  • Recent developments to understand the competitive market scenario
  • Market trends, and factors driving and restraining the SiC fibers market growth
  • Assistance in decision-making process by highlighting market strategies that underpin commercial interest
  • SiC fibers market size at various nodes
  • Detailed market overview and segmentation, and the SiC fibers industry dynamics
  • Size of the SiC fibers market in various regions with promising growth opportunities

SiC Fibers Market

The global market, by form, is segmented into continuous, woven cloth, and others. Based on usage, the market is bifurcated into composites and non-composites. The SiC fibers market, based on end-use industry, is categorized into aerospace & defense, energy & power, industrial, and others.

Company Profiles

  • American Elements
  • BJS Ceramics GmbH
  • COI Ceramics, Inc
  • General Electric Company
  • Haydale Technologies Inc.
  • Matech
  • NGS Advanced Fibers Co., Ltd.
  • Specialty Materials, Inc.
  • Suzhou Saifei Group Co., Ltd
  • Ube Industries, Ltd.

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REGIONAL FRAMEWORK
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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Form, Usage, and End-Use Industry

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

The List of Companies - SiC Fibers Market 

  1. American Elements
  2. BJS Ceramics GmbH
  3. COI Ceramics, Inc.
  4. General Electric Company
  5. Haydale Technologies Inc.
  6. Free Form Fibers
  7. NGS Advanced Fibers Co., Ltd.
  8.  Specialty Materials, Inc.
  9. Suzhou Saifei Group Co., Ltd
  10. Ube Industries, Ltd.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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