06-Oct-2021 | Zion Market Research
Major companies in the SiC fibers Market are Ube Industries Ltd., COI Ceramics, NGS Advanced Fibers Co. Ltd., Ube Industries Ltd., Nippon Carbon Co. Ltd., BJS Ceramics GmbH, Specialty Materials Inc., Saint-Gobain, Suzhou Saifei Group, Washington Mills and Haydale Technologies Inc. among others. These players are set to bolster the development of the global SiC fibers Market.
According to analysts at Zion Market Research, the global SiC fibers market accounted for USD 379.7 Million in 2020 and is expected to reach USD 2,476.8 Million by 2028, growing at a CAGR of 26.7% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “SiC Fibers Market By Phase (Crystalline Phase and Amorphous Phase), By Usage (Composite Materials and Non-Composite Materials), By Form (Continuous Fibers and Short Fibers), By End-use Industry (Aerospace and Defense, Energy and Power, Electronics, Biomedical and Others), and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Technological Advancements Across the Aerospace and Defense Industry to Enhance Growth
Technological advancement made in aerospace, power generation and nuclear industries is the main driver of the SiC Fibers market. Other factors such as development in technology and new product development for efficient performance are responsible for the growth in the SiC Fibers market.
There is a high focus on the use of SiC Fibers in the upcoming engine models, which may result in significant increase in the demand for SiC Fibers. Features such as high tensile strength, high stiffness, toughness, resistance to chemical attacks and high temperature resistance has given a favorable tilt to the demand of SiC Fibers resulting in an overall growth of the market.
Continuous SiC Fibers have a major share in the market demand and aerospace is the industry, which uses SiC Fibers in bulk.
Presence of Major Players to Assist North America Growth
North America is dominating the global SiC Fibers Market. This dominance can be attributed to the presence of prominent companies like COI Ceramics Inc., Specialty Materials Inc., Matech Inc. and Global Materials Inc., in the region.
Subsequently, Asia-Pacific is the fastest growing region in the SiC Fibers market. Among the largest consumers of SiC Fibers, countries included in the Asia Pacific region are China and Japan. Japan is also among the largest producer of SiC Fibers and actively supports research and development activities for SiC Fibers. Countries such as India, Taiwan and South Korea will also display a significant growth in the SiC Fibers market. Growth in Asia Pacific region is mainly due to the increasing environmental awareness and stringent regulations for improving environment performance.
Browse the full “SiC Fibers Market By Phase (Crystalline Phase and Amorphous Phase), By Usage (Composite Materials and Non-Composite Materials), By Form (Continuous Fibers and Short Fibers), By End-use Industry (Aerospace and Defense, Energy and Power, Electronics, Biomedical and Others) and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/sic-fibers-market
Latin America, Europe, the Middle East and Africa, and North American regions follow the growth in the SiC Fibers market after Asia Pacific. Overall, the global market for SiC fibers will show a significant growth in the coming future.
The global SiC fibers market is segmented as follows:
By End-use Industry
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