Ceramic Matrix Composites Market Overview:
Global Ceramic Matrix Composites Market was valued at $3,900 million in 2016, and is expected to reach at $7,707 million by 2023, registering a CAGR of 10.3% from 2017 to 2023. Crystalline in nature ceramic materials are inorganic and non-metallic solids. Ceramic matrix composites (CMC) are defined as a group of composite materials consisting of ceramic fibers embedded in a ceramic matrix.
Furthermore, this ceramic matrix is composed of carbon fibers, which are known as carbon-fiber-reinforced carbon (C/C). Moreover, high electrical conductivity and thermal stability have increased the utilization of ceramics in various electronic and thermal management applications where high efficiency is required. In addition, ceramic composites are used in electronic products, thermal management, and aerospace & defense industries to improve the structural performance. Moreover, these composites are utilized in engineering applications including heat shield systems, gas turbines components, rocket engines, brake disks, and brake system components for airplanes and cars to protect from extreme thermal shock, high corrosion, and wear resistance.
Global Ceramic Matrix Composites Market Segmentation
The ceramic matrix composites market is segmented based on fiber type, type, end user, and geography. Based on fiber type, it is classified into short fiber and continuous fiber. Based on type, it is categorized into silicon carbide reinforced silicon carbide (SiC/SiC), carbon reinforced carbon (C/C), oxide-oxide ceramic matrix composites (Ox/Ox), and others (carbon fiber reinforced silicon carbide (SiC/C)). Based on end user, it is divided into aerospace & defense, automotive, energy & power, electricals & electronics, and others (construction, industrial, and others). Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The factors that drive the market growth are high strength and lightweight of ceramic matrix composites utilized to prepare exterior components such as nozzles, nose caps, and engines in the aerospace & defense industry. Moreover, property of withstanding high temperature and ability to sustain high radiation make it ideal for utilization in nuclear reactors. In addition, the defense segment is expected to boost the market growth during the forecast period, owing to its utilization in manufacturing bulletproof armor and insulations in small arms weapons platforms due to excellent impact strength and high thermal stability.
The global ceramic matrix composites market provides various opportunities to the market players, owing to rapid growth of aerospace industry in the developing economies. Moreover, they are used in thermal processes, such as Ox/Ox hot gas valves, used to control the gas flow in gas fired high temperature furnaces, owing to the high temperature resistance resulting in prevention from any kind of distortion. In addition, the extended shelf life of CMC components compared to the metallic valves drives the market growth. However, high costs involved in the use of CMCs in automotive industry is expected to restrain the market growth.
Top Investment Pockets
Ceramic composites pose lucrative opportunities among the aerospace & defense industry, owing to its utilization to manufacture exterior components such as exhaust nozzle, nose cap, and engines. Moreover, these are used among engine hot sections including propulsion and exhaust to improve fuel efficiency as well as to enhance heat & corrosion resistance and low-density properties even at high temperatures.
Top Investment Pockets
The silicon carbide segment, dominated the global market in 2016, and is anticipated to maintain its dominance throughout the forecast period. In addition, the electrical & electronics segment is estimated to grow at a significant CAGR of 10.6%.
Ceramic Matrix Composites Market Share, By Type, 2016 (%)
North America accounted for a considerable share of the total revenue in 2016, followed by Europe and Asia-Pacific, owing to the presence of industry players, growth of the aerospace & defense industry, and stringent environmental regulations.
Italy Ceramic Matrix Composites Market Value, 2016-2023 ($Million)
The key players in the report include Rolls-Royce PLC., COI Ceramics Inc., SGL Group, Starfire Systems Inc., Ceramtec., Lancer Systems., Coorstek Inc., Applied Thin Films, Inc., Ultramet, and Composites Horizons invest in R&D activities to develop advanced products to cater to the requirements of the market.
The other players in the value chain (profiles not included in the report) include 3M Company, GE Aviation, Kyocera Corporation, SGL Carbon Company and AltaSim Technologies, LLC and UBE industries.
- The report provides an extensive analysis of the global ceramic matrix composites market trends from 2016 to 2023 to determine the prevailing opportunities.
- Comprehensive analysis of factors that drive & restrict the market growth is provided.
- Extensive analysis is conducted by following product benchmarking, positioning, and monitoring the top competitors within the global market.
- The report provides extensive qualitative ceramic matrix composites market size trends on the significant segments or regions.
- The report provides key insights on strategic ceramic matrix composites industry analysis of various companies and the value chain analysis of ceramic matrix composites.
Ceramic Matrix Composites Market Key Segments:
By Fiber Type
- Short Fiber
- Continuous Fiber
By End User
- Aerospace & Defense
- Energy & Power
- Electricals & Electronics
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA