Industry Outlook and Trend Analysis
The Ceramic Matrix Composites (CMC) Market was worth USD 1.78 billion in 2014 and is expected to reach approximately USD 5.39 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 13.12% during the forecast period. The market is foreseen to grow at tremendous CAGR in throughout the figure timeframe because of expanding demand for lightweight and elite materials. Rising requirement from defence applications, for example, multi-spectral windows, sensor protection, and infrared domes will trigger the development of the market. Creation of ceramic matrix is an energy-intensive procedure and signifies the last product cost, making it helpful just in top of the line applications, for example, thermal management, aerospace, and defence. High cost of clay strands has fundamentally impacted market development.
Product Outlook and Trend Analysis
Silicon carbide (SiC) composites developed as the biggest product section in 2016 with a share of over 35.0% by volume. The product portion is anticipated to reflect the second-highest development rate over the coming a very long time because of its rising application scope in aviation. Higher oxidation protection of SiC composites, in contrast with carbon lattice composites, is the essential driver for this product portion.
Application Outlook and Trend Analysis
Ceramic matrix composites are used in aircraft structural components, which comprise of gas turbine engines, thermal barriers, engine components, nose caps, missile propulsion systems, braking systems, and engine components. Expanding application extent of fired grid composites in different areas, for example, energy and power, electrical and electronics, industrial applications, and marine is making development potential for the market.
Regional Outlook and Trend Analysis
Asia Pacific is foreseen to rise as the quickest developing locale in the ceramic matrix composites market, displaying a CAGR of 14.7% as far as volume over the estimate time frame. Rising vitality requests and innovative advancements in the avionic business are main considerations adding to the development of CMC in this area. The region, driven by rising economies, for example, India, Thailand, China, and Malaysia, appreciates an upper hand by virtue of the accessibility of inexpensive labour and raw materials.
The leading players in the market are Ube Industries, General Electric, Coi Ceramics Inc and CoorsTek. The leading players in the market are incorporated all through the esteem chain. These organizations have a technological advantage over others as raw material and production technology selected for producing these ceramics incredibly impact the cost of the general product and its properties.
The Ceramic Matrix Composites (CMC) Market is segmented as follows-
Electrical & Electronics
Energy & Power
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?