Asia Pacific SiC Fibers Market to Reach US$ 854.8 Mn at a CAGR of 34.9% in 2027

The Asia Pacific SiC fibers market accounted for US$ 55.6 Mn in 2018 and is predicted to grow at a CAGR of 34.9% during the forecast period 2019 – 2027, to account for US$ 854.8 Mn by 2027.

In 2018, Japan accounted for a significant share of the Asia Pacific SiC fibers market. Asia Pacific has presence of some world leading automobile and aircraft manufacturing companies which generate significant demand for SiC fibers. The region is expected to turn into a lucrative SiC fibers market as it has a robust manufacturing base in countries such as China and Japan as well as countries in Rest of Asia Pacific such as India and Philippines. Moreover, rising investments in the manufacturing ability and production facility of SiC fibers is further expected to fuel the growth of the SiC fibers market in the Asia Pacific region. The construction of efficient nuclear power plants and the rising use of technical ceramics used in their constructions across Asia Pacific is anticipated to drive the sales for SiC fibers. The large number of industrial bases in industrialized countries such as Japan and China are expected to propel the growth of SiC fibers in Asia Pacific in the forecast period.

Asia Pacific SiC Fibers Market

Market Insights

Growing Demand from Various End-Use Industries

High strength along with a lightweight, stability over high temperature, and resistance from oxidation and corrosion make SiC fibers an ideal material used across various ends use industries such as aerospace and defense, power and energy, chemical, automotive, and others. The rising focus towards the advancement of the performance of commercial and military aircraft is continuously driving the demand for high performance structural materials in the aerospace industry. Composite materials have gained acceptance for aviation and aerospace applications owing to exceptional strength coupled with superior physical properties and stiffness-to-density ratios. The aerospace industry is considered as the prime user of SiC fibers. The use of SiC fibers is important for application dealing in extreme mechanical loads at high temperatures (up to 1900 K in the air) and cannot be met out with any metallic material or intermetallic materials. The growing application of silicon carbide fibers reinforced composites is motivating the manufacturers to replace the metal parts in aircraft with the fibers so as to boost the fuel efficiency of aircraft engines. They are used in manufacturing of aircraft engines, thermal protection systems, and turbopumps. Thus, the growing application base along with a rapid rise in urbanization and industrialization is boosting the demand for SiC fibers in the industry.

Form Insights

Based on form, the Asia Pacific SiC fibers market is bifurcated as continuous, woven cloth and others. The SiC fibers have a strong oxidation resistance and are extremely strong fibers that are specially used for high-temperature applications. Composition of carbon, silicon or acute proportions of oxygen present in the fiber depend on the manufacturing process of the SiC fiber. The continuous SiC fiber segment is anticipated to account for a significant share of the SiC fiber market in Asia Pacific region for the year 2018. The continuous SiC fiber is widely used in the nuclear environment due to its chemical stability, high toughness, relatively low neutron absorption and mature fabrication technology. These fibers have been gaining growing inclination in the nuclear industry and are being studied all over the globe and are being applied mainly to the engine combustion chamber, friction materials and aerospace heat shield. The continuous SiC fibers are also noted to possess excellent electronic properties too. These fibers are prepared by the hot pressing and vacuum bag infiltration method using the SiC fabric performs. The expansion of power and energy sector in less developed economies of Asia Pacific region has generated significant demand for technical ceramics such as continuous SiC fibers used in construction of nuclear reactors.

Usage Insights

The SiC fiber market is bifurcated on the basis of usage into composites and non-composites. The SiC fibers market is anticipated to witness strong growth in Asia Pacific owing to large demand for SiC fibers from its energy, aviation, and industrial sector. The composite SiC fibers is anticipated to hold a major share of the Asia Pacific SiC fibers market by usage in 2018. The composites usage comprises of ceramic matrix composites (CMC), Polymer Matrix Composites (PMC) and Metal Matrix Composites (MMC). The PMC is poised to be a new alternative ceramic in various domestic and engineering applications. This composite that is influenced by the distinguished properties of SiC fiber is used in engineering applications such as marine, automobile, mechanical and others. The versatility offered by the use of composite SiC fibers has made them the preferred material in the construction of turbine engine components, and thermal protection systems in the aerospace applications. The remarkable properties of composite SiC fibers such as high chemical, mechanical and thermal stability with high tensile strength is anticipated to drive the demand for composite SiC fibers in the forecast period.

End-Use Industry Insights

The SiC fibers market is bifurcated on basis of end-use industry into aerospace and defense, energy and power, industrial, and others. The aerospace and defense industry is expected to generate significant demand for SiC fibers in 2018. Whereas the demand for SiC fibers in energy and power sector is anticipated to grow at a rapid pace in the forecast period 2019–2027. SiC fibers have gained importance in the aviation sector owing to their lightweight, high strength, and resistance towards oxidation and corrosion. These fibers are preferred over metal alloys in manufacturing aircraft components such as nozzles, combustors, shrouds, and blades of aircraft engines. The SiC fibers composites impart durability and toughness to the various aircraft components. The high modulus of SiC fibers composite makes it structurally suitable in the production of aircraft components. Moreover, the demand for silicon carbide fiber composites is high for manufacturing turbine & combustion section of aero-propulsion engines, which is expected to result in high product demand. The increasing use of aerospace composite materials like SiC fibers has played a significant role in the increased fuel efficiency and weight reduction of aircrafts. These properties of the SiC fibers composites have encouraged its use in the aerospace and spacecraft industry.

Rest of Asia Pacific SiC Fibers Market by End-Use Industry 

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Asia Pacific SiC Fibers Market: Strategic Insights

Asia Pacific SiC Fibers Market

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  CAGR (2019 - 2027)

  34.9%
• Market Size 2018
  US$ 55.6 Million
• Market Size 2027
  US$ 854.8 Million

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• American Elements
• General Electric Company
• Haydale Technologies Inc
• NGS Advanced Fibers Co Ltd
• Suzhou Saifei Group Co Ltd
• Ube Industries Ltd
• Ceramdis GmbH
• Nippon Carbon Co Ltd
• Hongwu International Group Ltd

Regional Overview

• Asia-Pacific

Market Segmentation

Form

• Continuous
• Woven Cloth

Usages

• Composites
• Non-Composites

End-Use Industry

• Aerospace and Defense
• Energy and Power
• Industrial

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New product development, market initiatives and merger and acquisition were observed as the most adopted strategies in Asia Pacific SiC fibers market. Few of the recent developments in the Asia Pacific SiC fibers market are listed below:

2017:

In March 2017, Nippon Carbon Co., Ltd. announced the creation of the new business division “Global Business Development Division”. The new division will work cross-sectionally for worldwide market survey and analysis, new business development and global organization enforcement.

2016:

NGS Advanced Fibers Co., Ltd announced the completion of it’s second plant. The addition of new plant facility would increase production capacity of HI-NICALON (including TypeS) by 10 tonnes per annum.

ASIA PACIFIC SiC FIBERS MARKET SEGMENTATION

Asia Pacific SiC Fibers Market - By Form     

• Continuous
• Woven Cloth
• Others

Asia Pacific SiC Fibers Market - By Usage

• Composites
• Non-Composites

Asia Pacific SiC Fibers Market - By End-Use Industry

• Aerospace and Defense Industrial, Others
• Energy and Power
• Industrial

• Others

Asia Pacific SiC Fibers Market - By Country

• Japan
• China
• Rest Of Asia Pacific

Company Profiles

• American Elements                 
• General Electric Company                  
• Haydale Technologies Inc.                  
• NGS Advanced Fibers Co., Ltd.           
• Suzhou Saifei Group Co., Ltd             
• Ube Industries, Ltd                 
• Ceramdis GmbH           
• Nippon Carbon Co Ltd.            
• Hongwu International Group Ltd
• SNAM Group of Companies

Asia Pacific SiC Fibers Market Report Scope

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• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.