Global Ceramic Matrix Composites Market Size To Grow At A CAGR Of 13% In The Forecast Period Of 2023-2028
The ‘Global Ceramic Matrix Composites Market Trends, Share, Size, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global ceramic matrix composites market, assessing the market on the basis of its segments like composite type, fibre type, fibre material, applications, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Ceramic Matrix Composites Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 13%
The global ceramic matrix composites market is expected to register growth during the forecast period on account of the high-temperature stability it offers. Recent research on ultra-high temperature ceramics have determined that such materials have exceptional resistance to erosion at temperatures, increasing their usefulness and demand. The manufacturing of innovative products with high-quality ceramic matrix composites is likely to increase due to the advantages they offer.
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The rising popularity of lightweight and fuel-efficient cars are expected to drive growth of the market for high-quality ceramic matrix as they help in eliminating pollution as well as lower carbon impact globally. The growing government support toward fuel-efficient cars to decrease pollution is likely to push forward the ceramic matrix composites market growth over the coming years.
The growing automotive industry and increasing preference for ceramic matrix composites for engine parts are expected to fuel market demand over the coming years. Moreover, an upsurge in vehicle production along with lesser tariffs on imported auto parts and automobiles is likely to boost the market demand across the globe.
Rapid technological advancements to produce ceramic matrix composites with better properties along with enhanced structural efficiency at lowered weights is likely to enhance the ceramic matrix composites market growth. Efforts are aimed at reducing composite production costs along with cycle times.
Ceramic Matrix Composites Industry Definition and Major Segments
Ceramic matrix composites are a special type of composite substance in which both the reinforcement as well as the matrix material are ceramics.
In some cases, a similar type of ceramic is employed for both parts of the structure and includes an additional secondary fibre. Due to this, ceramic matrix composites are considered a subgroup of both composite materials as well as ceramics.
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Based on composite type, the market is segmented into:
- Silicon Carbide Reinforced Silicon Carbide
- Carbon Reinforced Carbon
- Oxide/Oxide
- Others
On the basis of fibre type, the market is categorised into:
- Short Fibre
- Continuous Fibre
Based on fibre material, the market is segmented into:
- Alumina Fibre
- Refractory Ceramic Fibres
- SiC Fibre
- Others
By application, the market is classified into:
- Aerospace and Defence
- Automotive
- Energy and Power
- Electronics and Electricals
- Others
Based on region, the market is divided into:
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East and Africa
Ceramic Matrix Composites Market Trends
Geographically, the North American region is expected to witness significant growth in the ceramic matrix composites market share over the forecast period. This is on account of the increasing demand for ceramic matrix composites from the aerospace and defence sectors, especially in the United States.
The increasing investments towards research and development by manufacturers and the high presence of advanced ceramic matrix composite manufacturers in this region are boosting market growth. There are growing partnerships for evolving defence equipment in the North American region. The United States is augmenting the market growth of ceramic matrix composites due to the growing aerospace and defence industry and the country is considered the largest exporter of commercial aircraft.
Meanwhile, the Asia Pacific is anticipated to gain momentum over the coming years in the ceramic matrix composites market on account of the excessive consumption of oil in the region. This has enhanced the demand for energy security with an increased focus on natural gas. With the increasing requirement for fuel-efficient aircraft engines, the market is likely to propel further to reduce operational costs.
Key Market Players
The major players in the global ceramic matrix composites market report are :
- Specialty Materials, Inc.
- Applied Thin Films Inc.
- CoorsTek, Inc.
- Ultramet, Inc.
- COI Ceramics, Inc.
- others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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