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.

Silicon Carbide Fibers Market Overview:

The global COVID-19 pandemic has been unprecedented and shocking. As a result, demand for silicon carbide fibres is lower than expected in all regions compared to levels before the pandemic. Based on our research, the world market was 14.0% smaller in 2020 than it was 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 stand up to temperatures of up to 2,700 degrees. They are the best choice for gas turbines and nuclear power plants because of these qualities. During the review period, the global silicon carbide fibres market will grow because technology is getting better and better at making SiC-based fibres, and the aerospace industry is using more lightweight materials to make parts.

Market Dynamics:

Latest Trends:

As technology improves to make fibres better, it will open up lucrative opportunities for market growth.

At first, silicon carbide fibres were expensive because they were hard to find. Japan and the United States were in charge of making most of these fibres for sale. This made many companies around the world come up with new ways to make a lot of SiC-based fibres. Many companies and research and development centres work on how to make things work well in high-temperature settings. For example, NASA has a patent on Sylramic-iBN, which is a fibre made of silicon carbide that is safe and can withstand temperatures up to 1,500°C. So, the efforts of these players would make it easier to come up with new ways to make fibres, which would lead to mass production. During the forecast period, the market will have a lot of good chances to grow because fibre production technology is getting better and better.

Driving Factors:

Rising demand from different industries for ceramic metric composites will drive product consumption.

During the next few years, the market will grow because more Ceramic Matrix Composites (CMCs) are using fibres made of silicon carbide. The growth can be attributed to good qualities like high mechanical strength and high resistance to heat. Also, SiC fibre has great properties like resistance to corrosion and oxidation, adjustable resistivity, and low density. This makes it a great reinforcement for CMCs and makes it different from other inorganic fibres.

CMC is being used more and more in energy and power applications, like heat exchangers and the walls of fusion reactors. This will drive demand for the product. Also, the U.S. Department of Energy is looking into CMC cladding for fuel rods in light-water nuclear reactors. This is because the energy and power industry is expected to use a lot more CMC in the coming years. Also, the aerospace and defence industries in North America and Europe are expected to use ceramic matrix composites more because of how quickly they are growing.

Restraining Factors:

Price is too high Because of how much it costs to make, the market can't grow much.

Silicon carbide fibres aren't used as much as they could be because of how expensive they are. Silicon carbide is getting better and better, which means that bigger machines are needed. This raises the overall cost, which makes SiC-based fibres more expensive. Also, silicon carbide is hard to find in nature, so companies have to use a lot of furnace techniques to make the compound from Si. As a result, this affects how much it costs to make and process products. So, these things are a big reason why the market won't grow much in the next few years.

Segmentation Analysis:

By Form Analysis:

The market is divided into continuous, woven, and other types based on how they are made. The continuous segment had the biggest share of the market, and it is expected to keep its lead 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 very strong and save a lot of weight. So, these factors would keep segment growth going.

On the other hand, woven silicon carbide fibres used in high-temperature applications would be used more, which would drive product consumption. The growth of the segment will also be helped by the growing use of SiC-based composites in hypersonic applications.

By Usage Analysis:

The SiC fibres market is split into composites and non-composites based on how they are used. It is expected that the composites segment will grow at the fastest rate from 2022 to 2029. Composites that are reinforced with non-oxide silicon carbide fibres work well in structural applications and in harsh environments. Because of these differences, composites can't be compared to metallic superalloys or one-piece composites. Also, these composites are made to have specific life, temperature, environmental conditions, and stress capabilities, which helps the segment grow.

Also, more and more products will be used in non-composite applications because they can withstand high temperatures. This will be a major market driver during the forecast period.

By Application Analysis:

The market is split into aerospace & defence, energy & power, industrial, and others based on how it is used. In 2021, the aerospace segment had the largest share of the market. Fibers are being used more and more in the aerospace industry, especially in aircraft engines, turbopumps, and systems that protect against heat. The growth is due to the fact that it can withstand heat and is light.

On the other hand, more gas turbine engines, nuclear reactor fuel cladding, and radiation blankets will use SiC-based fibres, which will increase product demand in the energy and power segment. The industrial application segment is expected to grow a lot because more products are being used in the chemical industry to make reactors, heat exchangers, reformers, and filters. The propulsion, plastic, and metals parts are in the "others" section. So, the growth of the market will be helped by the growing demand for the product in these uses.

Regional Insights:

In 2021, the size of the market in North America was USD 276.8 million. In North America, the market for SiC fibres has grown thanks to fast industrialization and better technology. In this area, the U.S. has the largest share of the market. The main things that are driving the demand for this product in this country are the rise in research and development and the growth of the aerospace industry, as well as the rise in the production of silicon carbide fibres.

In Europe, where there is a lot of demand for the product, this is a sign of how quickly industry is growing there. In applications like preheaters, radiant tubes, and recuperators, which are used in industrial machinery, the need for SiC-based products has grown quickly.

In Asia-Pacific, the growth of the market is mostly due to the growing demand for continuous fibres in energy and power applications. This is because continuous fibres are stronger and can withstand higher temperatures.

The Middle East and Africa are the most important places in the rest of the world. The growth of the market in this region will be helped by the growing use of heat exchangers, reactors, filters, and reformers in the chemical industry. Also, the growth of the aerospace industry in Latin America will lead to a big increase in the market in the near future.

Scope Analysis

Recent Development:

• 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 an initial four-year period.

Market Segmentation

By Form:

• 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.)
• Others