Global Ceramic Matrix Composites Market Share is Likely to Grow at a CAGR Value of 10.70% By 2028

01-Sep-2022 | Facts and Factors

According to Facts and Factors, the global ceramic matrix composites market size was worth USD 8,492.40 million in 2021 and is estimated to grow to USD 15628.45 million by 2028, with a compound annual growth rate (CAGR) of approximately 10.70% over the forecast period. The report analyzes the ceramic matrix composites market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the ceramic matrix composites market.

Ceramic fibers are placed in a ceramic matrix to create ceramic matrix composites (CMCs), a type of ceramic fiber-reinforced material. Composite materials comprise at least two components: the matrix material, which binds everything together, and the reinforcement, which offers unique mechanical qualities like stiffness or strength. CMCs are a specific composite material in which the matrix material (ceramic) and reinforcement (refractory fibers) are both ceramic. These composites are made to increase the hardness of ordinary ceramics, whose primary drawback is their tendency to break easily. Excellent wear and corrosion resistance, low weight, and chemical stability are just a few benefits they provide. Inorganic, nonmetallic solids with crystalline structures make up ceramic materials. Comparing CMCs to traditional technical ceramics, we can see that the former has better fracture resistance and does not easily break under considerable pressures.

Browse the full “Ceramic Matrix Composites Market Size, Share, Growth Analysis Report By Fiber Type (Continuous, Woven, and Others (Chopped, Felt/Mat, Twills, and Braided)), By Matrix Type (C/C, C/SIC, Oxide/Oxide, SIC/SIC), By End-use Industry (Aerospace & Defense, Automotive, Energy & Power, Industrial, and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/ceramic-matrix-composites-market

The key factor driving the growth of the ceramic matrix composites market is the rapid expansion of the automotive industry across developing nations like China and India, as well as the rise in demand for ceramic matrix composites due to their low weight and high friction, and temperature-resistant properties. Additionally, the desire for lightweight and fuel-efficient cars has surged, increasing the demand for ceramic matrix composites in the automotive sector and fueling market expansion. The global ceramic matrix composites market is anticipated to increase, but issues such as the high cost of CMCs relative to other metal alloys are predicted to hinder it. On the other hand, it is projected that adopting low-cost production technologies would open up the good potential for market development.

The global ceramic matrix composites market is segregated based on fiber, matrix, end-use industry, and region. Based on fiber type, the market is segmented into continuous, woven, and others (chopped, felt/mat, twills, and braided). The continuous segment dominates the market in 2021. Based on matrix type, the market is segmented into C/C, C/SiC, oxide/oxide, and SiC/SiC. The silicon carbide reinforced silicon carbide (SIC/SIC) segment dominates the market in 2021. Based on the end-use industry, the market is classified into aerospace & defense, automotive, energy & power, industrial, and others (electrical & electronics, medical, and marine). Among these, the aerospace & defense segment dominate the market in 2021.

The global ceramic matrix composites market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. In 2021, the North American region dominated the ceramic matrix composites market. The expanding aerospace and military sectors are the key drivers of this region's ceramic matrix composites market growth. The market in the area is distinguished by well-established competitors and the application of strict environmental rules that emphasize the use of lightweight and fuel-efficient products. North America is home to most market participants in ceramic matrix composites. Key operations of other prominent aerospace firms, including Boeing, Bombardier, Airbus Group, and Lockheed Martin, are concentrated in North America. As a result, in comparison to other regions, North America has a greater demand. In the automotive, aerospace & military, and electrical & electronics industries, there is a growth in the use of these composites. It is also predicted that prominent market players will raise their expenditures on R&D activities and expand their production capacities and product portfolios, which will fuel the growth of the North American ceramic matrix composites market.

Report Scope

Key players in the global ceramic matrix composites market include General Electric Company, Rolls-Royce, Axiom Materials Inc., SGL Carbon, United Technologies, 3M Company, COI Ceramics, Lancer Systems, CoorsTek, Applied Thin Films, Ultramet, and CFC Carbon Co., Ltd.

Recent Development:

• April 2020: Raytheon Technologies, the product of the union of United Technologies and Raytheon Company. After planned spinoffs, the merged firm, valued at over USD 100 billion, is the world's second-largest aerospace and military corporation by revenue, trailing only Boeing. The production and sales of CMC products increased as a result.

Global Ceramic Matrix Composites Market is segmented as follows:

By Fiber Type

• Continuous
• Woven
• Others (chopped, felt/mat, twills, and braided)

By Matrix Type

• C/C
• C/SIC
• Oxide/Oxide
• SIC/SIC

By End-use industry

• Aerospace & Defense
• Automotive
• Energy & Power
• Industrial
• Others (Electrical & Electronics, Medical, and Marine)

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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