Global Silicon Carbide Market 2023

Jun 07, 2023

Global Silicon Carbide Market 2023-2027

NEW YORK, Aug. 4, 2023 /PRNewswire/ -- The global silicon carbide (SiC) market size is estimated to grow by 2.57 million tons from 2022 to 2027, according to Technavio. The market is expected to grow at a CAGR of 12.33% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The increase in demand for SiC fibers is driving market growth. SiC fibers have high heat resistance, chemical stability, and modulus. In addition, they are lightweight and durable, which makes them appropriate for various aerospace-related applications. The focus on the modernization of defense aircraft fleets by various countries has increased the demand for aircraft materials. Therefore, composites such as SiC fibers are used in aircraft manufacturing. These factors will contribute to the market growth during the forecast period. - Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and the forecast period (2023-2027). Download Sample Report in minutes!

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