Sic Fibers Market Expected to Reach US ~$1,930.6 Million and CAGR 26.8% by 2028
The global SiC Fibers market size is expected to reach USD 1,930.6 million by 2028 according to a new study by Polaris Market Research.
Increasing application of SiC fibers in the manufacturing of gas turbine engines, growing demand from aerospace structural applications, and modernization of existing aircraft drive the growth of the industry. Growing use in component manufacturing for nuclear power plants further increases the demand for the industry. However, the COVID-19 outbreak has impaired the growth of this market. Disruption in the supply chain, closure of manufacturing facilities, and stringent government regulations have negatively influenced the industry.
Request Sample Copy of Research Report @ https://www.polarismarketresearch.com/industry-analysis/sic-fibers-market/request-for-sample
(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
SiC Fibers are used in diverse end-use industries such as energy and power, aerospace and defense, industrial, and others. The aerospace and defense sector dominated the global industry in 2020. It is used in the manufacturing of aerostructure owing to its properties such as corrosion and thermal resistance, high weathering, and lightweight, among others. Factors such as increasing air travel, growth in the aerospace industry, and aircraft modernization boost this segment’s growth.
North America dominated the global industry in 2020 and is expected to maintain its dominance over the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The increase in air travel and aircraft deliveries, growing demand for huge aircraft and wide-body aircraft, and increasing aircraft modernization drive the industry. Emerging countries such as China, Japan, South Korea, and India are expected to experience significant growth in air traffic, thereby supplementing the growth of this industry. This region is also expected to grow at a high rate due to increasing defense expenditure and rising government investment initiatives.
Some major participants include Specialty Materials, Inc., COI Ceramics, Inc., BJS Ceramics GmbH, NGS Advanced Fibers Co., Ltd., Matech Solutions, Ube Industries, Ltd., American Elements, Suzhou Saifei Group, and GE Aviation. Market players are collaborating with each other for research and development, strengthening market presence, and technological innovation. The greater need to cater to growing customer requirements has encouraged market participants to leverage new technologies to develop high-quality products.
Inquire more about this report before purchase @ https://www.polarismarketresearch.com/industry-analysis/sic-fibers-market/inquire-before-buying
(You may enquire about a reported quote OR available discount offers to our sales team before purchase.)
Polaris Market Research has segmented the SiC Fibers market report on the basis of type, form, usage, end-use, and region:
SiC Fibers, Type Outlook (Revenue, USD Million, 2016 – 2028)
- First Generation
- Second Generation
- Third Generation
SiC Fibers, Form Outlook (Revenue, USD Million, 2016 – 2028)
SiC Fibers, Usage Outlook (Revenue, USD Million, 2016 – 2028)
SiC Fibers, End-Use Industry Outlook (Revenue, USD Million, 2016 – 2028)
- Energy and Power
- Aerospace and Defense
Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semiconductors, chemicals, automotive, and aerospace & defense, among different ventures, present globally.
Polaris Market Research