Ceramic Matrix Composites Market will exhibit a CAGR of 10.9% between 2020 and
Posted by omkar on October 23rd, 2019
The Global Ceramic Matrix Composites Market size is estimated to be USD 3.71 billion in 2019 and is predicted to reach USD 11.59 billion by 2030 with a CAGR of 10.9% from 2020-2030. Ceramic matrix composites are composite materials which include ceramic fibers embedded in a ceramic matrix and forming a ceramic material. Moreover, carbon and carbon fibers are also considered as ceramic material, which are known as carbon-fiber-reinforced carbon. Properties such as high thermal stability and electrical conductivity have made these composites suitable for numerous thermal and related applications where high efficiency and weight to strength ratio is of highest importance.
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These composites are used in thermal management, electronic products, and defense & aerospace industries to progress the structural performance. Additionally, they are used in engineering applications which includes gas turbines components, heat shield systems, rocket engines, brake system and brake disks components for cars and airplanes to protect from extreme high corrosion, thermal shock, and wear resistance. Moreover, they are anticipated to replace conventional alloys and other metal components as they operate at “no cooling” medium owed to higher thermal stability. The cost of these composites is greatly influenced by the volatile prices of the ceramic fibers.
Market Dynamics and Trends:
Increasing demand for lightweight and high-performance materials coupled with the rising demand from defense applications such as multi-spectral windows, sensor protection, and infrared domes will boost the growth of the market during the forecast period. Furthermore, production of these composites is an energy-intensive process and adds up to the final product cost, which makes it useful only in high-end applications such as defense, aerospace, and thermal management. Thus, significantly influencing the market growth in the coming years.
Technological adaptiveness coupled with the R&D investment are significant factors for companies in the market because of rapid change in technology, intense competition, and customers with evolving demands. Applications such as thermal management, electronics, and high-end sports equipment are also utilizing CMCs for better performance, sturdy structures, and higher comfort. Developed nations are supporting these R&D activities through public-private partnerships and joint ventures. For instance, such collaborations is Noise program (CLEEN) and The Continuous Lower Energy, implemented by the Federal Aviation Administration (FAA) in partnership with five aviation manufacturers
Market Segmentations and Scope of the Study:
The ceramic matrix composites market share is analysed on the basis of product, application, and geography. On the basis of product, the market is segmented into oxide, silicon carbide, carbon, and others. According to the application, the market is classified into the aerospace, defense, energy & power, electrical & electronics, and others. The geographical segment of the advanced ceramics market covers North America, Europe, Asia Pacific, and Rest of the World.
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Comprehensive competitive analysis and profiles of major market players such as 3M Company, SGL Carbon Company, COI Ceramics, Inc., CoorsTek, Inc., Ube Industries, Ltd., General Electric Company, CeramTec, and Applied Thin Films, Inc. International. also provided in this ceramic matrix composites market report.
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Joined: April 19th, 2019
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