PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1148025
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1148025
The Ceramic Matrix Composites Market size was valued at USD 8,680.4 Million in 2021, expanding at a CAGR of 10.8% from 2022 to 2028.
Ceramic fibre is embedded in a ceramic matrix to produce ceramic matrix composite (CMC). It is a substance made up of a ceramic matrix mixed with a dispersed phase of oxide and carbides. They are manufactured using procedures for vapour phase infiltration or deposition. These matrices are utilised as building blocks for rocket and jet engines, vehicle internal combustion engines, gas turbines, process equipment, nuclear components, refractory components, welding nozzles, spacecraft re-entry shielding, and brazing fixtures.
Market Dynamics:
To increase vehicle safety and performance while reducing exhaust emissions, fuel consumption, and weight, the modern automobile industry must advance. These intricate and incompatible requirements can be met with the help of emerging contemporary technologies, including CMCs. CMCs today produce all types of individual auto engine parts, including exhaust and intake systems, valves, brake discs, turbine parts, and brake system parts. The automotive industry is expanding across the globe. For instance, the Organisation Internationale des Constructeurs d'Automobiles (OICA) reports that in 2019, automotive production in Malaysia and Vietnam increased by 1.2% and 5.5%, respectively, to 5,71,632 and 2,50,000 units. Brazil's manufacturing of passenger cars climbed by 2.5% from 2,387,967 units in 2018 to 2,448,490 units in 2019. Automobile production in the USA increased by 4%, from 8,821,026 units in 2020 to 9,167,214 units in 2021. The need for ceramic matrix composites in the automotive industry is rising as a result of this rising automobile output, driving the market. 2019 will see increases of 1.2% and 5.5% from 2018.
In addition, the increasing demand from the wind energy industry is expected to boost market growth during the forecast period. Ceramic matrix composites of the latest generation are used to make turbine blades (CMCs). These make use of water-like polymers that can be converted into low-density ceramics capable of 1700°C or nanofibers grown upon silicon carbide (SiC) reinforcing fibres for improved toughness. Additionally, the usage of ceramic composites offers some internal dampening, which aids in lowering vibratory stresses brought on by irregular flow loads in the bladed turbine regions. For these reasons, ceramic matrix composites are frequently utilized in the production of wind turbine blades. The demand for wind turbine blades is rising, and manufacturers are responding by expanding their production facilities to fulfil this demand.
Segment Analysis:
Based on product, the market is segmented into oxides, silicon carbide, carbon, and others. The oxides product segment accounted for the largest market share during the forecast period. The market for oxide composites is anticipated to be driven by improved qualities of these materials, such as zero oxidation and high fracture toughness, as well as a more affordable manufacturing technique. Besides, the silicon carbide segment is growing at the highest CAGR during the forecast period. The growth in the segment is attributed to its excellent oxidation resistance, corrosion resistance, and low density even at high temperatures. Moreover, SiC-based Ceramic Matrix Composites (CMC) materials with continuous or woven fibres have the potential for use in a wide range of applications, including high-temperature structural materials for the automotive and aerospace industries as well as high-performance machinery and turbines.
Geography:
North America accounted for the largest market share during the forecast period owing to the presence of major aviation industries. The region's growth is anticipated to their spending on creating ceramic matrix components for producing aviation components, and their partnerships with governmental organizations for upgrading military equipment. However, during the forecast period, Asia-Pacific is expected to have the highest growth in the global CMC market, led by China and India. The region's key driving factors will be increased efforts for the development of self-sustaining commercial, regional, and military aircraft, increased military expenditures, and the start-up of assembly plants by commercial aircraft manufacturers in China.
Recent Development:
A ceramic matrix composites (CMCs) engineering and development centre has been established by Pratt & Whitney, a Raytheon Technologies Corp. business, in Carlsbad, California. The brand-new 60,000-square-foot facility is an engineering, development, and low-volume production facility that is completely focused on CMCs for aerospace applications.
Key features of the study:
This proposed research study on the Ceramic Matrix Composites market provides market size (US$ Million), compound annual growth rate (CAGR %) and forecast estimation (2022-2028), considering 2021 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the Ceramic Matrix Composites market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain the Ceramic Matrix Composites market
The impact of COVID-19 on the Ceramic Matrix Composites market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Ceramic Matrix Composites market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Ceramic Matrix Composites market, we have also included a competitive landscape and key innovator analysis for the Ceramic Matrix Composites market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Ceramic Matrix Composites market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Ceramic Matrix Composites market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL CERAMIC MATRIX COMPOSITES MARKET KEY PLAYERS
3M
COIC
CoorsTek Inc.
General Electric
KYOCERA Corporation
SGL Carbon
Ultramet
UBE Corporation
Axiom Materials Inc.
Raytheon Technologies Corporation
applied thin films inc.
Starfire Systems Inc.
GLOBAL CERAMIC MATRIX COMPOSITES MARKET, BY PRODUCT
Oxides
Silicon Carbide
Carbon
Others
GLOBAL CERAMIC MATRIX COMPOSITES MARKET, BY APPLICATION
Aerospace
Defense
Energy & Power
Electrical & Electronics
Others
GLOBAL CERAMIC MATRIX COMPOSITES MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA