The global SiC fiber market is estimated to exceed US$ 6.4 billion in 2023 to US$ 30.6 billion by 2032, growing at a compound annual growth rate (CAGR) of 19% during the forecast period from 2024 to 2032.
Silicon Carbide (SiC) crystals produce SiC fibers, which also contain carbon, silicon, and oxygen. These fibers are lightweight and exceptionally durable, with the ability to withstand the harsh conditions of land-based gas turbine engines and extreme temperatures. This robustness is the main factor driving its adoption in the electronics industry. SiC fibers find applications in various sectors such as automotive, energy, and aerospace. Particularly in the defense and aerospace industries, where resilience to harsh environments is crucial, SiC fibers are valued for their high tensile strength, toughness, and resistance to high temperatures.
Rising Demand of SiC Fibers in Aerospace
The increasing utilization of lightweight silicon carbide (SiC) fibers for component manufacturing in the aerospace industry is expected to be a significant driver of market growth in the coming years. These fibers, with diameters ranging from 5 to 150 micrometers, are primarily composed of silicon carbide molecules and exhibit crucial qualities such as high heat resistance, chemical stability, high modulus, lightweight, and durability.
These attributes make them well-suited for various aerospace applications, including heat engine insulation, nanotubes in turbines, ceramic matrix composites (CMC), and alternatives to metallic alloys.
Moreover, using SiC fibers in the aerospace industry offers environmental and economic benefits to aerospace companies by substantially reducing the weight of aircraft engines and enhancing fuel efficiency.
As a result, the demand for SiC fiber in producing various aircraft components is expected to experience a significant increase. Additionally, the modernization of aircraft and fighter jets in developing nations such as China and India with cutting-edge features is anticipated to propel the silicon carbide fiber market share.
High Cost of SiC Fibers
Significant progress has been achieved in the last decade in the manufacturing methods of silicon carbide (SiC) fibers, resulting in the production of near-stoichiometric small-diameter fibers that meet the property requirements for most ceramic matrix composites (CMC) and nuclear applications. However, the manufacturing cost has remained prohibitively high, hindering its use in applications that require lower costs. The cost of SiC fiber-reinforced CMC is primarily dominated by the cost of SiC fiber, which comprises more than 50% of the finished part cost.
The high cost of SiC fibers, ranging from US$ 800 to US$ 2,000 per ton, makes them significantly more expensive (20 to 50 times) than silicon. This high cost is attributed to the difficulty in manufacturing, as standard growth methods are not practical due to the high melting point of silicon carbide. The complexity and size of machinery required for advancing silicon carbide also contribute to the overall cost, thereby increasing the prices of SiC-based fibers. Consequently, this factor may impede the overall market growth.
The high price of silicon carbide fibers poses a challenge to their adoption in various applications, despite the significant advancements in their manufacturing. The cost dominance of SiC fibers in CMCs and the high manufacturing expenses hinder their widespread use in industries that could benefit from their exceptional properties.
While significant strides have been made in the manufacturing of silicon carbide fibers, the high cost associated with their production remains a barrier to their widespread adoption in various applications, potentially slowing down the overall market growth.
Development of Advanced SiC Fibers
Cutting-edge advancements from globally recognized research institutions are driving the development of sophisticated silicon carbide fibers tailored for high-temperature structural applications. The evolution of innovative designs and processing technologies aimed at enhancing the product is projected to improve its operational characteristics, presenting key players with opportunities to enrich their product portfolio.
Moreover, the burgeoning interest in enhancing the performance of SiC fibers in high-temperature environments has spurred intensified research and development endeavors. Notably, leading SiC fiber producers such as BJS Ceramics GmbH and the Fraunhofer Center for High-Temperature Lightweight Construction HTL have broadened their silicon carbide production to include the manufacturing of non-oxide SiC fiber.
The non-oxide silicon carbide fiber finds application in the production of composite materials, encompassing super metallic alloys, oxide ceramic composites, carbon fiber composites, and monolithic composites. Consequently, the escalating industrial use of composites, superalloys, and heat-resistant materials is expected to create lucrative market prospects for silicon fiber.
By Form
The continuous silicon carbide fibers segment held the majority share of the global market in 2023 and is projected to experience a significant compound annual growth rate (CAGR) over the forecast period. These fibers exhibit exceptional performance in high-radiation environments, making them highly sought after in the nuclear power generation industry.
Additionally, ceramic matrix composites reinforced with continuous filaments offer substantial weight savings and high toughness, making them well-suited for the production of large critical components in the aerospace and defense industry. Moreover, the ease of handling fiber tows and their ability to be used in the production of complex-shaped composites further contribute to their widespread use.
The continuous silicon carbide fibers segment is expected to maintain dominance due to its excellent performance in high-radiation environments, driving significant interest from the nuclear power generation industry. Furthermore, the reinforced ceramic matrix composites and continuous filaments offer high toughness and substantial weight savings, contributing to the continued growth of this segment.
By Usage
The composites segment is anticipated to experience a CAGR from 2024 to 2032 in terms of revenue, as non-oxide silicon carbide fibers reinforced composites demonstrate superior performance in challenging environmental conditions and structural applications. These composites offer greater advantages compared to monolithic composites and metallic superalloys, leading to increased demand.
Silicon carbide fibers reinforced composites exhibit good creep-rupture resistance and low thermal permeability and conductivity. Additionally, these composites can be tailored to incorporate capabilities for specific temperature, life, stress, and environmental conditions, thereby propelling the composites segment over the forecast period.
A significant advantage of SiC fibers SiC-reinforced composites is their ability to be customized according to specific requirements by selecting optimal architecture, coating, and matrix material. Furthermore, the product exhibits consistent strength characteristics in any formulation, offering flexibility to component manufacturers.
The growing popularity of electrospun silicon carbide fibers in microwave applications is expected to drive product demand over the forecast period. The product demonstrates superior absorption performance under microwave radiation by altering the direction of small fibers alongside the thickness of the sheet, which is anticipated to fuel their demand over the forecast period.
By End-User
The energy & power segment is anticipated to maintain the largest market share and experience the highest CAGR during the forecast period. Silicon carbide (SiC) fibers, characterized by high rigidity, compressive strength, and thermal shock resistance, are well-suited for diverse energy and power components.
They find application as ceramic matrix composites for internal insulation in gas turbines and function as refractories in high-temperature furnaces, preventing the melting of metallic sheets near the combustion chamber. The utilization of SiC fibers in various devices such as gas turbines, nuclear reactions, and furnaces represents a significant global market trend.
Moreover, both developed and developing nations worldwide are rapidly constructing nuclear facilities. For example, approximately 50 power reactors are currently under construction in 16 countries, with a primary focus on China, India, Russia, and the UAE. Consequently, the escalating demand for power reactors that incorporate SiC fibers as a crucial component for insulation purposes could drive the expansion of the silicon carbide fiber market within the energy & power sector.
Regional Analysis
The Asia-Pacific region is anticipated to experience the highest compound annual growth rate (CAGR) during the forecast period and hold the largest share of the SiC fiber market revenue in 2020. The rapid expansion of China's defense sector has compelled SiC fiber manufacturers to produce top-quality SiC fibers. A report from the Military & Security Developments of China revealed the country's intensified efforts to advance and upgrade its military-grade weapons and fighter jets.
Moreover, establishing new nuclear power plants in countries such as India and Japan have led to a surge in the use of SiC fibers as temperature-resistant materials for insulation purposes. These factors are driving the growth of the SiC fiber market in the Asia-Pacific region.
In India, the per capita electricity consumption reached 985 kWh in 2023, with total energy consumption growing significantly at a rate of 6.5% per year since 2020, of which 5% was in 2023, reaching 1.14 Gtoe. This growth may prompt the Indian government and local authorities to establish more power plants in the region where SiC fibers are extensively used for high-temperature applications. This trend garners substantial attention in the market and emerges as a pivotal strategy for capturing additional market demand.
Key Companies Operating in the Global SiC Fibers Market
Market Segmentation Outline
By Type
By Form
By Usage
By End-Use
By Region
1 INTRODUCTION OF GLOBAL SIC FIBER MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: SIC FIBER MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL SIC FIBER MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL SIC FIBER MARKET, BY TYPE
5.1 OVERVIEW
5.2 FIRST GENERATION
5.3 SECOND GENERATION
5.4 THIRD GENERATION
6 GLOBAL SIC FIBER MARKET, BY FORM
6.1 OVERVIEW
6.2 WOVEN
6.3 CONTINUOUS
6.4 OTHERS
7 GLOBAL SIC FIBER MARKET, BY USAGE
7.1 OVERVIEW
7.2 COMPOSITES
7.3 NON-COMPOSITES
8 GLOBAL SIC FIBER MARKET, BY END-USE
8.1 OVERVIEW
8.2 ENERGY AND POWER
8.3 AEROSPACE AND DEFENSE
8.4 INDUSTRIAL
8.5 OTHERS
9 GLOBAL SIC FIBER MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL SIC FIBER MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 AMERICAN ELEMENTS
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 BJS CERAMICS GMBH
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 FREE FORM FIBERS LLC
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 GE AVIATION
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 HAYDALE TECHNOLOGIES INC.
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 NGS ADVANCED FIBERS CO., LTD
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 NIPPON CARBON CO., LTD.
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8 SAINT GOBAIN
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 SGL CARBON SE
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 UBE INDUSTRIES LTD
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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