Ceramic Matrix Composites Market in the US 2015-2019
About Ceramic Matrix Composites
Ceramic matrix composites are composite materials produced by embedding ceramic matrices with refractory fibers. Because of their superior properties, such as heat and wear resistance, and high strength, these materials have found extensive usage in various applications in mechanical and chemical, aerospace and defense, and energy and environmental sectors. Although the potential market for these composites is high, their application and sales are limited to the aforementioned sectors only. However, due to extensive research being carrried out to develop and use ceramic matrix composites as replacements for metal alloys in 'hot-zone' structures, and as thermal interface materials in electronic equipment, their applications are expected to increase over the coming years.
The ceramic matrix composites market in the US is expected to grow at a rapid pace because of increased demand from the aviation industry. Ceramic matrix composites are used in applications that require materials that can withstand high temperatures and excessive wear. They are also being tested for potential use in various commercial and industrial applications. The US was the leading country in terms of global demand in 2014.
Technavio's analysts forecast the ceramic matrix composites market in the US to grow at a CAGR of 11.45% over the period 2014-2019.
Covered in this Report
The ceramic matrix composites market in the US can be divided on the basis of application into the following segments: mechanical and chemical, energy and environmental, aerospace and defense, and others.
Technavio's report, Ceramic Matrix Composites Market in US 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the ceramic matrix composites market in the US and its growth prospects over the coming years. The report also includes a discussion on the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Ceramic Matrix Composites Market in the US 2015-2019
Technavio recognizes the following companies as the key players in the Ceramic Matrix Composites Market in the US: 3M, Ceradyne, COI Ceramics, GE and Ube Industries
Other Prominent Vendors in the market are: Albany International Techniweave, CeramTec International, Composite Factory, CoorsTek, Hexcel, Hitco, Honeywell Advanced Fibers and Composites, Hyper-Therm, International Ceramic Engineering, Kyocera, Materion, Momentive, Murata Manufacturing, Northrop Grumman, Rauschert Kloster Veilsdorf, Samsung Electro-Mechanics, Synterials, Taiyo Yuden, TDK, Technology Assessment & Transfer, Textron, Ultramet, United Technologies, Vesuvius, Vishay Intertechnology and ZIRCAR Refractory Composites
Commenting on the report, an analyst from Technavio’s team said: “One of the most promising developments in the market is the Leap program by GE, which is part of the company's plans to improve the fuel efficiency and reduce the noise and emissions of its aircraft engines. The program includes manufacture and supply of ceramic matrix composites-based jet engines by GE Aviation, a subsidiary of GE. GE has already started constructing a 170,000-square-foot plant alongside its existing plant in the Sweeten Creek Industrial Park in Asheville, North Carolina, US, for the production of ceramic matrix composites-based Leap engines. The Leap program is expected to be the major driving force for the growth of the market during the forecast period with GE Aviation's backlog of $161 billion in orders for jet engine parts.”
According to the report, ceramic matrix composites have found increased use in aircraft engines in recent years because of their superior strength and wear-resistance. Ceramic matrix composites, owing to their high temperature-resistance and light weight, are increasingly being preferred over their metal- and alloy-based counterparts in the manufacture of high pressure turbines. This helps reduce fuel burn and emissions along with increasing the overall energy efficiency of the engine. GE is the leading player in the use of ceramic matrix composites for the manufacture of aircraft engine parts. With the company already in receipt of orders for ceramic matrix composite-based engine parts from aviation industry giants, including Airbus and Boeing, the demand from this industry is expected to grow significantly in the near future.
Further, the report states that the lack of demand for ceramic matrix composites from this region is making it difficult for US-based composite manufacturers to expand their business in the region and increase their profitability.
3M, Ceradyne, COI Ceramics, GE, Ube Industries, Albany International Techniweave, CeramTec International, Composite Factory, CoorsTek, Hexcel, Hitco, Honeywell Advanced Fibers and Composites, Hyper-Therm, International Ceramic Engineering, Kyocera, Materion, Momentive, Murata Manufacturing, Northrop Grumman, Rauschert Kloster Veilsdorf, Samsung Electro-Mechanics, Synterials, Taiyo Yuden, TDK, Technology Assessment & Transfer, Textron, Ultramet, United Technologies, Vesuvius, Vishay Intertechnology, ZIRCAR Refractory Composites