The Asia Pacific Silicon Carbide (SiC) Fibers Market would witness market growth of 28.1% CAGR during the forecast period (2021-2027).
SiC fibers are majorly utilized in the power generation sector for extremely high-temperature parts in gas turbine engines. Moreover, these fibers are very light in weight and display high-temperature stability that is useful in the power generation sector. The power generation sector is among the leading industries utilizing numerous types of SiC fibers for various applications. The usage of SiC fibers in the power generation sector is anticipated to register a stable growth due to the increasing applications in the industry. The SiC fiber supports in designing accurate and modern components, which are utilized in power generation.
There are many research & developments initiatives carried out to expand the applications of these fibers at various places. For example, silicon carbide fibers are integrated with SiC composite matrix, which are utilized in high-temperature structural applications like gas turbine engines. In addition, silicon carbide fibers have the ability to support structural and environmental situations under the pressure of high temperatures that range up to 2700-degree Fahrenheit. Moreover, the capability of these fibers to be manufactured for particular stress levels and broad operating temperature range helps in making it a better material option among various materials like carbon fiber composites, monolithic ceramics, metallic superalloys, and oxide/oxide ceramic composites.
The Asia Pacific is witnessing a rise in the application of SiC fibers in numerous industries. Factors like growing usage of industries such as energy & power industry and aerospace & defense industry. Additionally, the rising initiatives by manufacturers in China to use silicon carbide in their products are anticipated to contribute to the regional market growth.
Moreover, there are many emerging nations like India and Japan, which are witnessing a growing aerospace and defense industry, which is creating more demand for the SiC fibers in these nations and thus, fuelling the growth of the SiC fibers market during the forecast period. All these aspects are together pushing the regional market forward.
The China market dominated the Asia Pacific Energy & Power Silicon Carbide (SiC) Fibers Market by Country 2020, thereby, achieving a market value of $37.7 million by 2027. The Japan market is showcasing a CAGR of 28.5% during (2021 - 2027). Additionally, The India market is anticipated to witness a CAGR of 30% during (2021 - 2027).
Based on Usage, the market is segmented into Composites and Non-composites. Based on Form, the market is segmented into Continuous, Woven and Others. Based on Application, the market is segmented into Aerospace & Defense, Energy & Power, Industrial and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Silicon Carbide (SiC) Fiber Market is Projected to reach USD 2.3 Billion by 2027, at a CAGR of 25.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co., Toshiba Corporation, Ube Industries, Ltd., Haydale Graphene Industries PLC, Northrop Grumman Corporation (COI Ceramics, Inc.), Specialty Materials, Inc. (Global Material LLC), Suzhou Saifei Group Ltd., BJS Ceramics GmbH, Matech, and Tisics Ltd.
By Usage
By Form
By Application
By Country
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