PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 2004333
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 2004333
Global Ceramic Matrix Composites Market Size Study and Forecast by Composite Type, Fiber Type, Fiber Material, Application, and Regional Forecasts 2025-2035
Market Definition, Recent Developments & Industry Trends
Ceramic Matrix Composites (CMCs) are advanced materials engineered by embedding ceramic fibers within a ceramic matrix to enhance toughness, thermal resistance, and structural integrity. Unlike monolithic ceramics, CMCs exhibit superior fracture resistance and thermal shock tolerance, making them ideal for extreme-temperature and high-stress environments. The market encompasses a wide ecosystem of raw material suppliers (fiber and matrix producers), composite manufacturers, OEMs, and end-use industries including aerospace, defense, automotive, energy & power, and electronics.
In recent years, the CMC market has transitioned from niche aerospace applications to broader industrial adoption, driven by the demand for lightweight, high-performance materials capable of operating under extreme thermal and mechanical loads. Technological advancements in fiber architecture, matrix densification processes, and cost-optimized manufacturing techniques have expanded commercial viability. Concurrently, decarbonization initiatives and fuel efficiency mandates have accelerated the shift toward materials that enable weight reduction and higher operating efficiencies. Looking ahead to 2025-2035, the market trajectory will be shaped by next-generation propulsion systems, electrification trends, and energy transition investments, reinforcing CMCs as a strategic material platform.
Key Findings of the Report
- Market Size (2024): USD 4.09 billion
- Estimated Market Size (2035): USD 11.30 billion
- CAGR (2025-2035): 9.68%
- Leading Regional Market: North America
- Leading Segment: Aerospace application segment
Market Determinants
Rising Demand for High-Temperature Lightweight Materials
The increasing adoption of CMCs in aerospace engines, hypersonic systems, and industrial gas turbines is a primary growth driver. CMCs enable higher operating temperatures with reduced cooling requirements, directly improving fuel efficiency and performance. For OEMs, this translates into lower lifecycle costs and compliance with stringent emission standards, strengthening the commercial case for CMC integration.
Defense Modernization and Hypersonic Programs
Global defense budgets are increasingly allocated toward advanced propulsion systems, missile technologies, and thermal protection systems. CMCs, particularly Silicon Carbide-based composites, are critical in these applications due to their resilience under extreme thermal stress. Long-term defense contracts and national security priorities provide sustained demand visibility.
Energy Transition and Power Generation Efficiency
As utilities and industrial players pursue efficiency upgrades and lower carbon footprints, CMCs are being incorporated into gas turbines and next-generation energy systems. Their ability to withstand higher combustion temperatures without significant degradation enhances thermal efficiency, aligning with decarbonization targets and energy optimization strategies.
Manufacturing Complexity and Cost Constraints
Despite strong demand fundamentals, high production costs and complex fabrication processes remain constraints. Processes such as chemical vapor infiltration and polymer infiltration pyrolysis are capital-intensive and time-consuming, limiting scalability. Cost reduction through automation and process innovation will be critical to broader adoption beyond premium applications.
Supply Chain Concentration and Raw Material Sensitivity
The CMC ecosystem is characterized by a limited number of specialized fiber and matrix suppliers. Any disruption in high-performance fiber production, particularly silicon carbide fibers, can impact production timelines and pricing stability. This concentration risk underscores the need for vertical integration and supplier diversification strategies.
Opportunity Mapping Based on Market Trends
Expansion in Next-Generation Aerospace Platforms
- Advanced jet engines and ultra-efficient propulsion systems
- Space exploration and reusable launch vehicles
The push toward higher thrust-to-weight ratios and reduced emissions creates a sustained opportunity for CMC integration. As commercial aviation recovers and defense aerospace accelerates innovation cycles, demand for high-temperature engine components is expected to surge.
Electrification and High-Performance Automotive Components
- Electric vehicle thermal management systems
- Performance braking systems and exhaust components
Although aerospace dominates today, the automotive sector presents emerging opportunities, particularly in high-performance and electric vehicle platforms where thermal management and lightweighting are critical differentiators.
Industrial Gas Turbines and Hydrogen Economy Applications
- Hydrogen-ready turbine components
- High-efficiency combined cycle plants
The global pivot toward hydrogen-compatible infrastructure and low-emission power generation systems positions CMCs as a material enabler for high-temperature hydrogen combustion environments.
Process Innovation and Cost Optimization
- Additive manufacturing integration
- Scalable densification technologies
Investments in advanced manufacturing techniques could significantly reduce production cycle times and material wastage, unlocking mid-tier industrial applications and expanding addressable markets.
Key Market Segments
By Composite Type:
- Silicon Carbide (SIC/SIC)
- Carbon Reinforced Carbon (C/C)
- Carbon Reinforced Carbon/ Silicon Carbide (C/SiC)
- Oxide-Oxide (OX/OX)
- Others
By Fiber Type:
- Short Fiber
- Continuous Fiber
- Discontinuous/SiC Whisker
- Others
By Fiber Material:
- Alumina Fibers
- Amorphous Ceramic Fibers (RCF)
- Silicon Carbide Fibers (SIC)
- Others
By Application:
- Aerospace
- Defense
- Automotive
- Energy and Power
- Electricals and Electronics
- Others
Value-Creating Segments and Growth Pockets
The Aerospace application segment currently dominates revenue contribution due to extensive use in turbine engines, exhaust systems, and thermal protection components. Continuous fiber composites lead within fiber type categories, offering superior mechanical strength and load-bearing capabilities required for structural applications.
Among composite types, Silicon Carbide (SIC/SIC) holds a significant share owing to its exceptional high-temperature stability and oxidation resistance. However, Oxide-Oxide (OX/OX) composites are expected to witness accelerated growth due to improved cost structures and suitability for moderately high-temperature environments.
In fiber materials, Silicon Carbide Fibers remain the premium choice for high-performance applications, while alumina fibers are gaining traction in cost-sensitive and industrial applications. Automotive and energy & power segments represent emerging growth pockets, particularly as electrification and decarbonization strategies intensify.
Regional Market Assessment
North America
North America leads the global CMC market, supported by strong aerospace and defense manufacturing capabilities, significant R&D investments, and the presence of major engine OEMs. Government-backed defense modernization programs and advanced material innovation hubs further reinforce regional leadership.
Europe
Europe demonstrates robust growth driven by aerospace engineering excellence, stringent environmental regulations, and industrial decarbonization goals. The region's focus on sustainable aviation fuels, hydrogen infrastructure, and next-generation turbines stimulates CMC demand.
Asia Pacific
Asia Pacific is projected to witness the fastest growth rate during the forecast period. Expanding aerospace manufacturing, rising defense expenditure, and rapid industrialization in countries such as China, Japan, and India are key growth catalysts. Additionally, regional investments in power infrastructure and automotive electrification contribute to market expansion.
LAMEA
The LAMEA region is gradually integrating CMC technologies, primarily through energy and defense investments. Middle Eastern countries, in particular, are investing in advanced turbine technologies and industrial diversification, creating selective but high-value demand opportunities.
Recent Developments
- March 2024: A leading aerospace OEM expanded its CMC production facility to increase engine component output, signaling confidence in long-term commercial aviation recovery and sustained material demand.
- September 2023: A strategic partnership was formed between a CMC manufacturer and a defense contractor to co-develop next-generation hypersonic propulsion components, strengthening the defense application pipeline.
- June 2023: Investment in advanced silicon carbide fiber production capacity was announced to address supply bottlenecks and improve cost efficiency, reflecting the industry's push toward vertical integration and scale optimization.
Critical Business Questions Addressed
- What is the long-term revenue outlook of the global Ceramic Matrix Composites market?
The report quantifies current and projected market size, identifying sustainable growth pathways through 2035.
- Which application segments offer the highest return on investment?
It evaluates aerospace dominance while assessing high-growth potential in energy, automotive, and defense.
- What are the primary cost and scalability challenges?
The analysis outlines manufacturing bottlenecks, supply chain concentration risks, and pathways to cost optimization.
- How will regional dynamics influence competitive positioning?
It compares innovation-driven markets with scale-driven emerging economies to guide geographic expansion strategies.
- Where should stakeholders prioritize capital allocation?
The study identifies technology-intensive and high-temperature applications as strategic investment zones.
Beyond the Forecast
Ceramic Matrix Composites are transitioning from specialized aerospace materials to foundational enablers of high-efficiency, low-emission systems across industries.
Long-term competitiveness will depend on mastering scalable manufacturing processes and securing resilient fiber supply chains.
As propulsion systems, power generation technologies, and mobility platforms evolve, CMCs are poised to become a strategic material backbone of next-generation industrial ecosystems.
Table of Contents
Chapter 1. Global Ceramic Matrix Composites Market Report Scope & Methodology
- 1.1. Market Definition
- 1.2. Market Segmentation
- 1.3. Research Assumption
- 1.3.1. Inclusion & Exclusion
- 1.3.2. Limitations
- 1.4. Research Objective
- 1.5. Research Methodology
- 1.5.1. Forecast Model
- 1.5.2. Desk Research
- 1.5.3. Top Down and Bottom-Up Approach
- 1.6. Research Attributes
- 1.7. Years Considered for the Study
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Strategic Insights
- 2.3. Top Findings
- 2.4. CEO/CXO Standpoint
- 2.5. ESG Analysis
Chapter 3. Global Ceramic Matrix Composites Market Forces Analysis
- 3.1. Market Forces Shaping The Global Ceramic Matrix Composites Market (2024-2035)
- 3.2. Drivers
- 3.2.1. Rising Demand for High-Temperature Lightweight Materials
- 3.2.2. Defense Modernization and Hypersonic Programs
- 3.2.3. Energy Transition and Power Generation Efficiency
- 3.3. Restraints
- 3.3.1. Manufacturing Complexity and Cost Constraints
- 3.3.2. Supply Chain Concentration and Raw Material Sensitivity
- 3.4. Opportunities
- 3.4.1. Expansion in Next-Generation Aerospace Platforms
- 3.4.2. Electrification and High-Performance Automotive Components
Chapter 4. Global Ceramic Matrix Composites Industry Analysis
- 4.1. Porter's 5 Forces Model
- 4.2. Porter's 5 Force Forecast Model (2024-2035)
- 4.3. PESTEL Analysis
- 4.4. Macroeconomic Industry Trends
- 4.4.1. Parent Market Trends
- 4.4.2. GDP Trends & Forecasts
- 4.5. Value Chain Analysis
- 4.6. Top Investment Trends & Forecasts
- 4.7. Top Winning Strategies (2025)
- 4.8. Market Share Analysis (2024-2025)
- 4.9. Pricing Analysis
- 4.10. Investment & Funding Scenario
- 4.11. Impact of Geopolitical & Trade Policy Volatility on the Market
Chapter 5. AI Adoption Trends and Market Influence
- 5.1. AI Readiness Index
- 5.2. Key Emerging Technologies
- 5.3. Patent Analysis
- 5.4. Top Case Studies
Chapter 6. Global Ceramic Matrix Composites Market Size & Forecasts by Composite Type 2025-2035
- 6.1. Market Overview
- 6.2. Global Ceramic Matrix Composites Market Performance - Potential Analysis (2025)
- 6.3. Silicon Carbide (SIC/SIC)
- 6.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.3.2. Market size analysis, by region, 2025-2035
- 6.4. Carbon Reinforced Carbon (C/C)
- 6.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.4.2. Market size analysis, by region, 2025-2035
- 6.5. Carbon Reinforced Carbon/ Silicon Carbide (C/SiC)
- 6.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.5.2. Market size analysis, by region, 2025-2035
- 6.6. Oxide-Oxide (OX/OX)
- 6.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.6.2. Market size analysis, by region, 2025-2035
- 6.7. Others
- 6.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.7.2. Market size analysis, by region, 2025-2035
Chapter 7. Global Ceramic Matrix Composites Market Size & Forecasts by Fiber Type 2025-2035
- 7.1. Market Overview
- 7.2. Global Ceramic Matrix Composites Market Performance - Potential Analysis (2025)
- 7.3. Short Fiber
- 7.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.3.2. Market size analysis, by region, 2025-2035
- 7.4. Continuous Fiber
- 7.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.4.2. Market size analysis, by region, 2025-2035
- 7.5. Discontinuous/SiC Whisker
- 7.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.5.2. Market size analysis, by region, 2025-2035
- 7.6. Others
- 7.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.6.2. Market size analysis, by region, 2025-2035
Chapter 8. Global Ceramic Matrix Composites Market Size & Forecasts by Fiber Material 2025-2035
- 8.1. Market Overview
- 8.2. Global Ceramic Matrix Composites Market Performance - Potential Analysis (2025)
- 8.3. Alumina Fibers
- 8.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 8.3.2. Market size analysis, by region, 2025-2035
- 8.4. Amorphous Ceramic Fibers (RCF)
- 8.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 8.4.2. Market size analysis, by region, 2025-2035
- 8.5. Silicon Carbide Fibers (SIC)
- 8.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 8.5.2. Market size analysis, by region, 2025-2035
- 8.6. Others
- 8.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 8.6.2. Market size analysis, by region, 2025-2035
Chapter 9. Global Ceramic Matrix Composites Market Size & Forecasts by Application 2025-2035
- 9.1. Market Overview
- 9.2. Global Ceramic Matrix Composites Market Performance - Potential Analysis (2025)
- 9.3. Aerospace
- 9.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 9.3.2. Market size analysis, by region, 2025-2035
- 9.4. Defense
- 9.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 9.4.2. Market size analysis, by region, 2025-2035
- 9.5. Automotive
- 9.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 9.5.2. Market size analysis, by region, 2025-2035
- 9.6. Energy and Power
- 9.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 9.6.2. Market size analysis, by region, 2025-2035
- 9.7. Electricals and Electronics
- 9.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 9.7.2. Market size analysis, by region, 2025-2035
- 9.8. Others
- 9.8.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 9.8.2. Market size analysis, by region, 2025-2035
Chapter 10. Global Ceramic Matrix Composites Market Size & Forecasts by Region 2025-2035
- 10.1. Growth Ceramic Matrix Composites Market, Regional Market Snapshot
- 10.2. Top Leading & Emerging Countries
- 10.3. North America Ceramic Matrix Composites Market
- 10.3.1. U.S. Ceramic Matrix Composites Market
- 10.3.1.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.3.1.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.3.1.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.3.1.4. Application breakdown size & forecasts, 2025-2035
- 10.3.2. Canada Ceramic Matrix Composites Market
- 10.3.2.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.3.2.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.3.2.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.3.2.4. Application breakdown size & forecasts, 2025-2035
- 10.3.1. U.S. Ceramic Matrix Composites Market
- 10.4. Europe Ceramic Matrix Composites Market
- 10.4.1. UK Ceramic Matrix Composites Market
- 10.4.1.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.4.1.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.4.1.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.4.1.4. Application breakdown size & forecasts, 2025-2035
- 10.4.2. Germany Ceramic Matrix Composites Market
- 10.4.2.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.4.2.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.4.2.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.4.2.4. Application breakdown size & forecasts, 2025-2035
- 10.4.3. France Ceramic Matrix Composites Market
- 10.4.3.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.4.3.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.4.3.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.4.3.4. Application breakdown size & forecasts, 2025-2035
- 10.4.4. Spain Ceramic Matrix Composites Market
- 10.4.4.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.4.4.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.4.4.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.4.4.4. Application breakdown size & forecasts, 2025-2035
- 10.4.5. Italy Ceramic Matrix Composites Market
- 10.4.5.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.4.5.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.4.5.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.4.5.4. Application breakdown size & forecasts, 2025-2035
- 10.4.6. Rest of Europe Ceramic Matrix Composites Market
- 10.4.6.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.4.6.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.4.6.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.4.6.4. Application breakdown size & forecasts, 2025-2035
- 10.4.1. UK Ceramic Matrix Composites Market
- 10.5. Asia Pacific Ceramic Matrix Composites Market
- 10.5.1. China Ceramic Matrix Composites Market
- 10.5.1.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.5.1.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.5.1.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.5.1.4. Application breakdown size & forecasts, 2025-2035
- 10.5.2. India Ceramic Matrix Composites Market
- 10.5.2.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.5.2.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.5.2.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.5.2.4. Application breakdown size & forecasts, 2025-2035
- 10.5.3. Japan Ceramic Matrix Composites Market
- 10.5.3.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.5.3.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.5.3.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.5.3.4. Application breakdown size & forecasts, 2025-2035
- 10.5.4. Australia Ceramic Matrix Composites Market
- 10.5.4.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.5.4.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.5.4.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.5.4.4. Application breakdown size & forecasts, 2025-2035
- 10.5.5. South Korea Ceramic Matrix Composites Market
- 10.5.5.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.5.5.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.5.5.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.5.5.4. Application breakdown size & forecasts, 2025-2035
- 10.5.6. Rest of APAC Ceramic Matrix Composites Market
- 10.5.6.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.5.6.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.5.6.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.5.6.4. Application breakdown size & forecasts, 2025-2035
- 10.5.1. China Ceramic Matrix Composites Market
- 10.6. Latin America Ceramic Matrix Composites Market
- 10.6.1. Brazil Ceramic Matrix Composites Market
- 10.6.1.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.6.1.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.6.1.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.6.1.4. Application breakdown size & forecasts, 2025-2035
- 10.6.2. Mexico Ceramic Matrix Composites Market
- 10.6.2.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.6.2.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.6.2.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.6.2.4. Application breakdown size & forecasts, 2025-2035
- 10.6.1. Brazil Ceramic Matrix Composites Market
- 10.7. Middle East and Africa Ceramic Matrix Composites Market
- 10.7.1. UAE Ceramic Matrix Composites Market
- 10.7.1.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.7.1.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.7.1.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.7.1.4. Application breakdown size & forecasts, 2025-2035
- 10.7.2. Saudi Arabia (KSA) Ceramic Matrix Composites Market
- 10.7.2.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.7.2.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.7.2.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.7.2.4. Application breakdown size & forecasts, 2025-2035
- 10.7.3. South Africa Ceramic Matrix Composites Market
- 10.7.3.1. Composite Type breakdown size & forecasts, 2025-2035
- 10.7.3.2. Fiber Type breakdown size & forecasts, 2025-2035
- 10.7.3.3. Fiber Material breakdown size & forecasts, 2025-2035
- 10.7.3.4. Application breakdown size & forecasts, 2025-2035
- 10.7.1. UAE Ceramic Matrix Composites Market
Chapter 11. Competitive Intelligence
- 11.1. Top Market Strategies
- 11.2. General Electric (U.S.)
- 11.2.1. Company Overview
- 11.2.2. Key Executives
- 11.2.3. Company Snapshot
- 11.2.4. Financial Performance (Subject to Data Availability)
- 11.2.5. Product/Services Port
- 11.2.6. Recent Development
- 11.2.7. Market Strategies
- 11.2.8. SWOT Analysis
- 11.3. Rolls-Royce plc (U.K.)
- 11.4. SGL Carbon (Germany)
- 11.5. COIC (U.S.)
- 11.6. LANCER SYSYTEMS (U.S.)
- 11.7. CoorsTek Inc. (U.S.)
- 11.8. applied thin films inc. (U.S.)
- 11.9. Ultramet (U.S.)
- 11.10. CFCCARBON CO, LTD. (China)
- 11.11. GrafTech International (U.S.)
- 11.12. Precision Castparts Corp (U.S.)
- 11.13. Zircar Zirconia, Inc. (U.S.)
- 11.14. Plasan North America (U.S.)
- 11.15. Touchstone Research Laboratory (U.S.)
- 11.16. Axiom Materials (U.S.)
- 11.17. UBE Corporation (Japan)
