Ceramic Matrix Composites Industry Overview
The global ceramic matrix composites market size is expected to reach USD 8.94 billion by 2030, expanding at a compound annual growth rate (CAGR) of 12.9% during the forecast period, according to a new report by Grand View Research Inc. Increasing demand for ceramic matrix composites is being driven by their superior properties, such as high-temperature stability, reduced weight, and high strength.
Ceramic Matrix Composites Market Segmentation
Grand View Research has segmented the Ceramic Matrix Composites market based on product, application, and region:
Based on the Product Insights, the market is segmented into Oxides, Silicon Carbide, Carbon, Others.
- The oxides product segment led the market and accounted for more than 29.97% share of the global revenue in 2021. Improved properties of oxide composites such as no oxidation and high fracturing toughness, and a less expensive production process, are expected to trigger the demand for aerospace, defense, and energy & power applications.
- Sic segment is projected to register a CAGR of 12.8% in terms of value during the forecast period. The higher initial cost of SiC ceramic matrix composites is the most prominent growth barrier for the segment. Other costs indulged during usage and transportation, such as cleaning costs and repositioning costs, also restrain the demand growth.
- Carbon products held a significant revenue share in 2021 due to the large-scale production of carbon fibers to fulfill the increased demand for CF and CFRP products globally. The costs of carbon/carbon ceramic matrix composites are significantly cheaper than silicon carbide/silicon carbide and oxide/oxide ceramic matrix composites.
- The other segment is anticipated to expand at a CAGR of 12.2% during the forecast period, owing to advantages such as lightweight, excellent wear and corrosion resistance, high strength to weight ratio, high strength retention at elevated temperatures, and high chemical stability, and hardness.
Based on the Application Insights, the market is segmented into Aerospace, Defense, Energy & Power, Electrical & Electronics, Others.
- The aerospace application segment led the market and accounted for more than 36.19% of the global revenue share in 2021.
- Their excellent impact strength coupled with high hardness makes these composites suitable for manufacturing bullet-proof armor and insulation in small arms weapons platforms. Ceramic materials are mostly transparent to certain types of energy, and light.
- Energy and power are expected to emerge as the fastest-growing application segment for CMC materials. CMC properties such as high-temperature stability coupled with greater oxidation resistance and ability to withstand radiation make it suitable for fission and fusion applications.
- Ceramic matrix composites are widely used as isolators in the electronics industry. They are also used in electronic circuits due to their high thermal conductivity. Other applications include ceramics for laser diodes, LED, artificial teeth, fuel cells, etc., which are also expected to drive the market.
Ceramic Matrix Composites Regional Outlook
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is characterized by the presence of various small- and large-scale players, resulting in a moderate level of concentration in the market. To serve a larger customer base, they are also trying to expand their product portfolio by focusing on developing cost-effective composites with enhanced properties.
Some prominent players in the global ceramic matrix composites market include
- 3M Company
- COI Ceramics, Inc.
- Coorstek, Inc.
- General Electric Company
- Kyocera Corporation
- Lancer Systems LP
- SGL Carbon Company
- Ultramet, Inc.
- Ube Industries, Ltd.
Order a free sample PDF of the Ceramic Matrix Composites Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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