Ceramic Matrix Composites Market size is projected to be worth USD 12,532.42 million by 2028, registering a CAGR of 9.63% during the forecast period (2020–2028).
Research Reports
Apr 12, 2022
The global Ceramic matrix composites Market is studied in the latest research report from Market Research Future (MRFR). The report profiles the global ceramic matrix composites market’s historical background, present structure, and future growth prospects.
Ceramic matrix composites are composites wherein the ceramic matrix is reinforced with fibers. This adds to the structural integrity of the composites and removes brittleness. This makes these materials suitable for use in applications involving extremely high temperatures.
The growing use of ceramic matrix composites in the aerospace and defense sector is likely to be a major driver for the global ceramic matrix composites market over the forecast period. Aerospace sector manufacturers are obsessed with getting the most strength out of the lightest materials in order to make aircraft lighter and stronger. This has led to a large-scale reliance on ceramic matrix composites, which have proven to be the perfect material for use in various aerospace applications such as engine building, brake disks, turbine blades, and others. The increasing government spending on fighter jets in countries such as China, the U.S., the UK, and India is likely to remain a major driver for the global ceramic matrix composites market over the forecast period. The rising commercial airliner industry is also likely to bode well for the global ceramic matrix composites market over the forecast period.
The automotive industry is also a major consumer of ceramic matrix composites and is likely to remain in the position over the forecast period. The growing government support to lightweight vehicles, which emit less carbon dioxide and other greenhouse gases than conventionally built vehicles, has led to growing demand for lightweight materials that can molded into the variety of shapes needed in a modern automobile. The high structural integrity of ceramic matrix composites has been vital in driving the demand for the same from the automotive industry.
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Competitive Analysis:
Leading players in the global ceramic matrix composites market include 3M, CeramTec, CoorsTek Inc., Kyocera Corporation, SGL Carbon India Pvt. Ltd., Rolls-Royce plc, Lancer Systems, General Electric, COI Ceramics Inc., and Applied Thin Films Inc.
In March 2019, the U.S. DoE’s Oak Ridge National Laboratory (ORNL) and Rolls-Royce announced plans to use supercomputers to calibrate and smoothen the manufacturing of ceramic matrix composite parts. Lowering the cost of the production process of ceramic matrix composites is the major target in this endeavor, as ceramic matrix composites are likely to replace metals in the aerospace sector in the coming years, but manufacturing them remains highly expensive.
Intended Audience
- Aerospace Industry
- Automotive Industry
- Energy & Power Industry
- Industrial Industry
- Electrical & Electronics Industry
- Research Institutes
- Academic Institutes
- Government Organizations
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Segmentation:
The global ceramic matrix composites market is segmented by type, category, process, application, and region.
On the basis of type, the ceramic matrix composites market is segregated into oxide/oxide, carbon/silicon carbide, silicon carbide, carbon/carbon, silicon carbide/silicon carbide, and others.
Based on category, the global ceramic matrix composites market is segmented into short fibers, long (continuous) fibers, whiskers, and others.
By process, the ceramic matrix composites market is segmented into power dispersion, liquid precursors, and gaseous infiltration.
On the basis of application, the ceramic matrix composites market is segregated into aerospace, automotive, electronics, energy and power, industrial, and others. Aerospace holds a dominant 35% share in the global ceramic matrix composites market, followed by the automotive and electronics industries.
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Regional Analysis:
The rising production of aircraft in the U.S. has led to North America emerging as the major regional market for ceramic matrix composites over the last few years. The region is likely to retain its position over the forecast period due to the consistent growth of the aerospace sector in the region and the large number of major aviation industry players operating in the region. The utility of ceramic matrix composites is likely to lead to their steady percolation throughout the industry over time, leading to steady growth of the ceramic matrix composites market.
Asia Pacific is likely to witness rapid growth of the ceramic matrix composites market over the forecast period due to the growing aerospace and electronics industries in countries such as China, India, Taiwan, and South Korea.
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