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.
The Asia Pacific SiC Fibers Market is growing along with the Chemicals and Materials industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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.
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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.
These factors are expected to offer broad growth opportunities in theChemicals and Materials industry and this is expected to cause the demand for SIC FIBERS in the market.
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ASIA PACIFIC SiC FIBERS MARKET SEGMENTATION
Asia Pacific SiC Fibers Market – By Form
- Woven Cloth
Asia Pacific SiC Fibers Market – By Usage
Asia Pacific SiC Fibers Market – By End-Use Industry
- Aerospace and Defense Industrial, Others
- Energy and Power
Asia Pacific SiC Fibers Market – By Country
- Rest Of Asia Pacific
- 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
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