The silicon carbide market market report released by Stratview Research shows that the silicon carbide industry has substantial growth opportunities in the next five years and ensures that more information about market trends is obtained. The following summary will outline the challenges, trends, market dynamics and key players.

The silicon carbide market provides a good growth opportunity. During the forecast period from 2020 to 2025, the compound annual growth rate may exceed 8%.

The growth of this market mainly depends on several factors that directly or indirectly affect demand. A report published by Stratview Research summarizes these factors using multiple analysis. These methods help to assess the company's potential and identify gaps, look for challenges and opportunities to develop a roadmap for success, thereby increasing profitability.

The following are the main players in the market-

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Driven by the continuous development of new applications in the high temperature field of aircraft engines (1,100°C to 1,600°C), the aerospace and defense sector is expected to experience the fastest growth during the forecast period. The density of the composite material based on silicon carbide fibers is one-third that of the nearest competitor nickel metal alloy, thus significantly reducing the overall weight of the engine.

Continuous silicon carbide fiber, also known as tow, is expected to grow the fastest during the forecast period. Continuous fibers are suitable for ceramic matrix composites (CMC), metal matrix composites (MMC) and polymer matrix composites (PMC).

During the forecast period, composite materials (CMC, MMC and PMC) are expected to remain the largest SiC application type. Ceramic matrix composites are the leading type of composite materials used in many applications ranging from aerospace to power generation to the nuclear industry.

Due to the existence of major aircraft engine manufacturers and the high demand for CMC components from other industries such as power generation and nuclear energy, North America is expected to remain the largest market for SiC fibers during the forecast period. Driven by the continuous growth of the aerospace and defense industries, the Asia-Pacific region is expected to experience the fastest growth during the forecast period.

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