What is the current Silicon Carbide Fiber Market size?

The Silicon Carbide Fiber Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029) Read More

Who are the key players in Silicon Carbide Fiber Market?

UBE INDUSTRIES,LTD, NGS Advanced Fibers Co., Ltd., Nippon Carbon Co. Ltd., Matech and Haydale Graphene Industries plc are the major companies operating in the Silicon Carbide Fiber Market. Read More

Which is the fastest growing region in Silicon Carbide Fiber Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Silicon Carbide Fiber Market?

In 2024, the North America accounts for the largest market share in Silicon Carbide Fiber Market. Read More

What years does this Silicon Carbide Fiber Market cover?

The report covers the Silicon Carbide Fiber Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Silicon Carbide Fiber Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Silicon Carbide Fiber Market Trends

Statistics for the 2023 & 2024 Silicon Carbide Fiber market trends, created by Mordor Intelligence™ Industry Reports. Silicon Carbide Fiber trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Silicon Carbide Fiber Industry

This section covers the major market trends shaping the Silicon Carbide Fiber Market according to our research experts:

Broad Demand from the Aerospace Industry

Silicon carbide fibers are mainly used in the aerospace industry, which can be attributed to the advanced properties possessed by it when compared to traditional materials, including increased strength and heat and corrosion resistance.
It also brings economic and environmental benefits to airline customers by significantly reducing weight, increasing durability, and improving fuel efficiency of engines.
It is currently estimated that the aircraft business around the world is anticipated to create a consolidated income of around USD 872 billion in 2020.
In 2019, Airbus became the world's largest revenue-generating company in the aerospace industry with USD 78.71 billion edging out rival Boeing, the world's second-largest company that generated revenue of USD 76.6 billion in 2019.
All the aforementioned factors are expected to drive the silicon carbide fiber market during the estimated timeframe.

Understand The Key Trends Shaping This Market

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The North America Region to Dominate the Market

North America holds a prominent share in the silicon carbide fiber market globally, as a result of the presence of main aircraft manufacturing nations, like the United States and Canada.
Revenue amassed by the United States alone in 2019 from the manufacturing of aerospace products and parts was about USD 251.24 billion, and it is determined to reach USD 262.42 billion by 2024.
Moreover, in the aviation segment, the United States and Canada are the significant income-generating nations from the North America region, computing a total of USD 432.4 billion among them, which is roughly 60% of the global aviation industry revenue.
Thus, the rising interest from various enterprises is predicted to drive the market studied in the region during the forecast period.