The Europe Silicon Carbide (SiC) Fibers Market would witness market growth of 24.7% CAGR during the forecast period (2021-2027).
The crystalline SiC fibers display exceptional properties like high modulus, chemical stability, high thermal resistance, more strength, and various other features, which make these fibers appropriate for nuclear plants, refractories, and power reactors. The usage of amorphous-based SiC fibers in industries like power industries, aerospace & aviation, and metallurgical sectors is the major catalyst for the growth of the SiC fiber market.
In addition, these fibers are also utilized in insulation, engines, and alternative to metallic alloys in aircraft components. Along with that, it also offers environmental and economic advantages by manufacturing lightweight & fuel-effective aircraft. For example, major aircraft manufacturers such as Boeing and Airbus are using SiC fibers in different aircraft like Boeing 757, Airbus A320neo, Boeing 787, and among others. Such aspects are fueling the growth of the SiC fiber market. The rising demand for silicon carbide fiber in the aerospace industry and the deployment of SiC fiber in the energy & power industry are estimated to bolster the growth of the SiC fibers market.
The growing aerospace industry in Europe is boosting the growth of the regional market. In addition, manufacturers in this region are getting more aware of the benefits of SiC fibers, which are estimated to motivate more manufacturers to invest in this industry.
Moreover, there are many companies, which are increasingly investing in setting up manufacturing plants to produce SiC fibers in bulk. It is also estimated that the market would witness a surge in demand due to the high adoption of these SiC fibers in the aerospace industry. In addition, there are many industries that are showcasing more interest in utilizing these fibers due to their lightweight and other properties.
The Germany market dominated the Europe Silicon Carbide (SiC) Fibers Woven Market by Country 2020, growing at a CAGR of 25.2 % during the forecast period. The UK market is exhibiting a CAGR of 25.7% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 27.5% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Silicon Carbide (SiC) Fiber Market Size will Hit $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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