Investments from multinational companies bolster Ceramic Matrix Composites Marke

Posted by rohan on September 24th, 2019

Market Overview:

Ceramic matrix composites include materials like ceramic fibers that support the formation of ceramic material. Nevertheless, carbon and carbon fibers are also considered as a ceramic material. Ceramic matrix composites are employed in different applications like aerospace, electronics, defense, thermal management, and others to enhance performance and sturdy structures. They are estimated to replace traditional alloys and other metal components as they operate at “no cooling” medium due to higher thermal stability. The ceramic matrix composites market is forecast to escalate from USD 9.4 billion in 2018 to USD 13.3 billion by 2023, representing a compound annual rate of 9.5% between 2018 and 2023.

Market drivers and restraints:

Ceramic matrix composites offer more strength, temperature resistance, and lower weight; these properties have escalated their popularity globally. Due to the presence of high thermal stability and electrical conductivity, they can be employed in the numerous electronic and thermal management applications, which is expected to fuel the global market growth. In addition to that, accelerating demand for these composites from the aerospace market is estimated to fuel the global market. Several international companies are investing in developing regions to meet the increasing need for these composite materials.

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Report segmented as:

By application:

Automotive

aerospace & defense

electrical & electronics

energy & power

others

By type:

silicon carbide

carbon

oxide

others

Geographical analysis:

The world ceramic matrix composites market is divided based on geography as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America held the biggest market share owing to higher penetration of ceramic matrix composites in the defense and aerospace sector. In addition to that, escalated spending on research and development also fosters world market growth.

Important market players:

Key players in the world ceramic matrix composites market are 3M Company, COI Ceramics, Inc., SGL Carbon Company, CoorsTek, Inc., General Electric Company, Ube Industries, Ltd., Applied Thin Films, Inc., and CeramTec International.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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