Ceramic Matrix Composites Market to 2027 - Global Analysis and Forecast by Product (Oxides/Oxide, Silicon Carbide/ Silicon Carbide, Carbon/ Silicon Carbide, Carbon/ Carbon); End-use Industry (Aerospace & Defense, Energy and Power, Automotive, Industrial, Others) and Geography
Ceramic Matrix Composites (CMCs) are the materials consisting of a ceramic matrix combined with ceramic material reinforcements such as oxides or carbides. Ceramic materials are inorganic and nonmetallic solids, which are crystalline. They exhibit improved crack resistance and do not rupture easily under heavy loads as compared to conventional technical ceramics. The global ceramic matrix composites market is accounted to US$ 8560.0 Mn in 2018 and is expected to grow at a CAGR of 9.1% during the forecast period 2019 – 2027, to account to US$ 18,485.0 Mn by 2027. Ceramic Matrix Composites (CMC) are the materials consisting of a ceramic matrix combined with ceramic oxides or carbides. Ceramic materials are inorganic and nonmetallic solids, which are crystalline. They exhibit improved crack resistance and do not rupture easily under heavy loads as compared to conventional technical ceramics. Ceramic matrix composites reinforced by either continuous long fibers or discontinuous short fibers. Ceramic matrix composites designed to improve the toughness of traditional ceramics, the main disadvantage of which is brittleness. High mechanical strength, high stiffness, high thermal and shock resistance, high thermal stability, high corrosion resistance, and lightweight making them suitable for the number of applications in aerospace & defense, automotive, energy, and power industries. They are majorly used in structural applications for helicopter rotor blades, ballistic protection plates, control surfaces, radomes, doors, and fuselages. Growing demand for lightweight & high performance materials from these industries is expected to drive the growth of ceramic matrix composites market during the forecast period.
Growing demand for lightweight & high performance materials from aerospace and defense industry is driving the growth of ceramic matrix composites market. High damage tolerance, fracture toughness, and high-temperature wear, & corrosion resistance have increased the use of ceramic matrix composites for broad applications in the aerospace & defense industry. Ceramic matrix composite (CMC) materials can benefit aerospace in thrust, exhaust, thermal protection, and primary structure applications, which require heat resistance. Ceramic matrix composites used in static components such as gas turbines, combustor liners, shrouds, blades, and nozzles of aircraft engines. Other than this, several factors which are influencing the growth of ceramic matrix composites market are rapid changes in technology and intense competition among market players along with increased focus over R&D activities for ceramic matrix composites. Such activities are expected to create lucrative opportunities for the ceramic matrix composites market.
Global ceramic matrix composites market is segmented on the basis of regions as North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe holds a significantly large share of the global ceramic matrix composites market in 2018. Growing automobile production and construction activities in the region have contributed towards the growth of ceramic matrix composites market in this region. Also, emerging economies in this region are contributing to the overall growth of ceramic matrix composites industry in this region which is expected to provide remarkable growth opportunity to the industry players during the forecast period. In addition, continuous research and development, and the growing use of the latest technology among the ceramic matrix composites manufacturers such as CeramTec GmbH, SGL Carbon SE, BJS Composites GmbH have spurred the production of ceramic matrix composites for end-use applications.
Some of the players present in global ceramic matrix composites market are COI Ceramics, Inc, General Electric Company, Lancer Systems, SGL Carbon, Rolls-Royce Plc, CoorsTek, Inc., Applied Thin Films Inc., Ultramet, CFCCARBON CO,. LTD, and Matech
The overall global ceramic matrix composites market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global ceramic matrix composites market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the global ceramic matrix composites market.
Reasons to buy
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global ceramic matrix composites market, thereby allowing players to develop effective long term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook