SiC Fibers Market 2017 - Global Forecast to 2022: Increase in R&D for Manufacturing Accident Tolerant and Lightweight Nuclear Reactors
DUBLIN, Dec. 18, 2017 /PRNewswire/ --
The "SiC Fibers Market by Form (Continuous, Woven Cloth), Usage (Composites, Non-Composites), End-use Industry (Aerospace & Defense, Energy & Power, Industrial), and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
The SiC fibers market is projected to grow from an estimated USD 240.0 Million in 2017 to USD 1,113.3 Million by 2022, at a CAGR of 35.9% between 2017 and 2022.
The growth of the SiC fibers market can be attributed to increased use of SiC fibers for commercial and military aircraft, as these offer a high strength-to-weight ratio and increased heat resistance. Moreover, these are lightweight, which increases the fuel efficiency of the aircraft and provides structural stability.
Among forms, the continuous form of SiC fibers led the SiC fibers market in 2016, in terms of both, value as well as volume. The growth of this segment is attributed to its high performance properties and compatibility with all types of composites that include Polymer Matrix Composites (PMCs), Ceramic Matrix Composites (CMCs), and Metal Matrix Composites (MMCs).
SiC fibers are mostly used in composites, and the most commercially explored usage of SiC fibers till date is in Ceramic Matrix Composites (CMCs) which are used in the hot section components of aircraft engines. Manufactured SiC fibers are supplied either in the continuous or fabric form for composite fabrication. SiC fiber based CMCs have a significant demand from aircraft and land-based gas turbine engine manufacturers.
Among various end-use industries, the aerospace & defense industry is projected to grow at the highest CAGR, in terms of both, volume and value between 2017 and 2022. The growth of the SiC fiber market in this industry is driven by advanced aircraft LEAP engines that require high thermodynamic efficiency (by lowering fuel consumption) and are able to withstand high temperatures. SiC fibers are increasingly being preferred over metal alloys in aircraft engines owing to their low weight, increased strength, and oxidation resistance. Thus, these fibers are replacing metal alloys in combustors, shrouds, nozzles, and blades of aircraft engines.
North America is the largest consumer of SiC fibers across the globe, in terms of both, value and volume. The growth of the North America SiC fibers market is driven by the increasing consumption of SiC fibers in commercial and military aircraft engines. The US is the largest consumer of SiC fibers globally, in terms of value and volume and is expected to strengthen its position further during the forecast period. The growth of the US SiC fibers market is attributed to the presence of giant aircraft engine manufacturers such as Pratt & Whitney and GE Aviation.
Market Dynamics
Drivers
- Capacity Expansions Due to Rise in Production of Leap Engines
- Increase in Demand for Fuel-Efficient Aircraft
- Increased Investments in Manufacturing SiC Fiber-Based CMCs for Land-Based Gas Turbine Engines
Restraints
- High Cost of SiC Fibers
Opportunities
- Increase in R&D for Manufacturing Accident Tolerant and Lightweight Nuclear Reactors
- Reduction of SiC Fiber Costs
Challenges
- Technological Challenges in Manufacturing Low-Cost SiC Fibers
Companies Mentioned
- BJS Ceramics
- COI Ceramics
- GE Aviation
- Haydale Technologies
- Matech
- Ngs Advanced Fibers
- Specialty Materials
- Suzhou Saifei Group
- Toshiba
- UBE Industries
For more information about this report visit https://www.researchandmarkets.com/research/dxh2vh/sic_fibers_market?w=5
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