’’The ceramic matrix composites market is projected to register a CAGR of 9.5%, in terms of value, between 2019 and 2029.’’
The ceramic matrix composites market size is estimated to be USD 9.4 billion in 2019 and is projected to reach USD 23.3 billion by 2029, at a CAGR of 9.5% between 2019 and 2029. Ceramic matrix composites are used in different industries such as aerospace & defense, automotive, energy & power, and industrial. They exhibit various properties such as non-corrosiveness, light weight, high mechanical strength, and high-temperature capability. The superior properties offered by ceramic matrix composites are enabling its usage in various end-use industries.
’’C/SiC matrix composites accounted for the largest share, in terms of value, of the overall ceramic matrix composites market.’’
C/Sic matrix composites dominated the overall ceramic matrix composites market in 2018. Ceramic matrix composites possess characteristics such as superior efficiency, higher tensile strength, and excellent mechanical properties at higher temperature. C/SiC ceramic matrix composites have the highest specific strength and can survive a wide range of high-temperature environment. C/SiC ceramic matrix composites are used in the nose cap of thermal protection system (TPS) and brake systems of luxury cars such as Porsche, Mercedes, and Audi.
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” The ceramic matrix composites market in the aerospace & defense industry is expected to register the highest CAGR between 2019 and 2029.’’
The increasing use of ceramic matrix composites in the aerospace & defense industry is mainly due to its properties, such as high damage tolerance, fracture toughness, and high temperature, wear & corrosion resistance. These properties allow ceramic matrix composites to withstand severe thermomechanical loading conditions. Ceramic matrix composites are used in various aerospace applications such as braking systems, structural nozzles, thermal barriers, and engine components. These composites help aircraft manufacturers in reducing weight and increasing efficiency of the engine.
” The ceramic matrix composites market in North America is projected to register the highest CAGR, in terms of value and volume, between 2019 and 2029.”
North America dominated the global ceramic matrix composites market. The region has the presence of many manufacturers of ceramic matrix composites and its products. The US accounted for a major share of the global ceramic matrix composites market and is expected to register significant growth during the forecast period. The growth of the ceramic matrix composites market in this region is mainly driven by the growing aerospace & defense industry.
Breakdown of Profiles of Primary Interviews:
- By Company: Tier 1 - 46%, Tier 2 - 27%, and Tier 3 - 27%
- By Designation: C level - 39%, Director level - 38%, and Others - 23%
- By Region: North America - 37%, Europe - 27%, Asia Pacific -18%, MEA - 9%, and Latin America - 9%
The ceramic matrix composites market comprises major solution providers such as General Electric Company (US), Rolls-Royce (UK), SGL Carbon (Germany), United Technologies (US), COI Ceramics (US), Lancer Systems (US), CoorsTek (US), Applied Thin Films (US), Ultramet (US) and CFC Carbon Co., Ltd. (China). The study includes an in-depth competitive analysis of these key players in the ceramic matrix composites market, with their company profiles, recent developments, and key market strategies.
The study covers the ceramic matrix composites market. It aims at estimating the market size and the growth potential of this market across different segments, such as matrix type, end-use industry, and region. Porter’s Five Forces analysis and the key market dynamics, such as drivers, restraints, challenges, and opportunities, influencing the growth of the ceramic matrix composites market have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the market.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall ceramic matrix composites market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.