It’s being expected that by 2028, the Ceramic Matrix Composites market cap will hit USD 12,532.42 Million at a CAGR growth of about 9.63%.
.jpg "The Global Ceramic Matrix Composites Market 2018-2028 (USD Million)")
Ceramic matrix composites (CMCs) are defined as a group of composite materials consisting of ceramic fibers embedded in a ceramic matrix. Ceramic materials are inorganic and nonmetallic solids, which are crystalline in nature. CMCs exhibit improved crack resistance and do not rupture easily under heavy loads as compared to conventional technical ceramics.
The global ceramic matrix composites market size is predicted to reach over USD 15.6 billion by 2028. This can be ascribed to the high-temperature stability, exceptional mechanical properties, and vast scope of applications offered by Ceramic Matrix Composites (CMC). Growing demand, especially from defense applications such as, sensor protection, infrared domes, and multi-spectral windows are projected to spur the growth. Besides, rapid growth in automotive sector across developing economies such as India and China and increase in demand for ceramic matrix composites owing to their low weight, high friction, and temperature-resistant properties are the key factor that fuel the growth of the ceramic matrix composites market.
However, high cost of CMCs as compared to other metal alloys is hampering the market growth. Furthermore, incorporation of low-cost production technologies is likely to provide lucrative development opportunities for the ceramic matrix composites market in the forthcoming years. Growing demand from aviation industry is expected to propel the demand. Several global companies are investing in the developing countries to cater to the growing need for these composites from various application industries.
Ceramic Matrix Composites Market Scope
| Metrics | Details |
| Base Year | 2022 |
| Historic Data | 2018-2019 |
| Forecast Period | 2022-2028 |
| Study Period | 2018-2028 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2028 | USD 12,532.42 Million |
| Growth Rate | CAGR of 9.63% during 2018-2028 |
| Segment Covered | By Type, By Category, Regions |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | 3M (US), Applied Thin Films, Inc (US), DACC Carbon (South Korea), CeramTec (Germany), CoorsTek Inc (US), Ube Industries, Ltd (Japan), Safran (France), General Electric (US), KYOCERA Corporation (Japan), Rolls-Royce plc (UK), Ultramet (US), Lancer Systems (US), Schunk GmbH (Germany), Axiom Materials (US), and SGL Carbon (Germany). |
Key Segments of the Global Ceramic Matrix Composites Market
Composite Type Overview (USD Million)
- C/C Ceramic Matrix Composites
- C/SIC Ceramic Matrix Composites
- Oxide/Oxide Ceramic Matrix Composites
- SIC/SIC Ceramic Matrix Composites
Application Overview (USD Million)
- Automotive
- Aerospace
- Defense
- Energy & Power
- Electrical & Electronics
- Others
Regional Overview (USD Million)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global ceramic matrix composites market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
The study on the global ceramic matrix composites market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the ceramic matrix composites industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on type and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global ceramic matrix composites market. The report will benefit every stakeholder involved in the ceramic matrix composites market.
- Managers within the ceramic matrix composites industry looking to publish recent and forecasted statistics about the global ceramic matrix composites market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global ceramic matrix composites market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The market value of ceramic matrix composites market in 2028 was USD 12,532.42 Million
The ceramic matrix composites market is growing at a CAGR of 9.63 % during the forecast period.
Asia Pacific dominated the market for ceramic matrix composites market and accounted for the largest revenue share.
Over the past few decades, surge in demand for lightweight and fuel-efficient vehicles has increased the need for ceramic matrix composites in the automotive industry, thereby driving the market growth. CMCs exhibit improved crack resistance and do not rupture easily under heavy loads as compared to conventional technical ceramics.
Ceramic matrix composites (CMC) are generally made from ceramic fibers or whiskers embedded in a ceramic matrix. These ceramics cover a varied range of inorganic materials that are usually non-metallic and commonly used at high temperatures. These composites were developed for applications with demanding thermal and mechanical requirements, such as in aerospace vehicles, nuclear industries, ground transportation, space structures and chemical industries.
Furthermore, Make in India Initiative, 100% FDI in automotive, and One Belt One Road Initiative are appealing major players to establish their production as well as distribution facilities in Asia Pacific. Energy and power segment is anticipated to witness the highest CAGR over the next seven years. Excess consumption of oil in Asia Pacific has encouraged the need for energy security with a focus on deriving energy from alternative sources which include natural gas. Ceramic matrix composites are thus likely to play a significant role in this segment.
The market is consolidated as several major market players currently hold the major market share. However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries.
Composite Type segment
Based on the Composite Type segment, the market is bifurcated into C/C Ceramic Matrix Composites, C/SIC Ceramic Matrix Composites, Oxide/Oxide Ceramic Matrix Composites, and SIC/SIC Ceramic Matrix Composites. In 2020, the SIC/SIC Ceramic Matrix Composites segment accumulated the maximum market share and it is likely to continue its dominance throughout the forecast years owing to its properties such as resistance to high temperature and oxidation. Due to increase in production and export of aerospace and defense equipment like fighter jets from countries such as the U.S., Germany, France, and the UK to developing countries has increased the demand for SIC/SIC.
Application Segment
Based on the Application segment, the market is segmented into Automotive, Aerospace, Defense, Energy & Power, Electrical & Electronics, and Others. The Aerospace & Defense segment seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. The growth of this segment is largely ascribed to their properties such as lightweight, enhanced fuel efficiency, and prolonged durability. In addition, increase in R&D activities in aerospace & defense technologies and rise in production of military aircrafts have led to increase in demand for ceramic matrix composites, thus driving the growth of the ceramic matrix composites market.
The North America is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the increase in consumption of these composites in the automotive, aerospace & defense, and electrical & electronics industries. In addition, increase in investments by major market players for R&D activities and expansion of their production capabilities & product portfolios are anticipated to boost the growth of the North America ceramic matrix composites market. However, Asia Pacific is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the ceramic matrix composites market in this region is mostly ascribed to the rising fund in novel nuclear power plants, defense, power stations, and aerospace. In addition, technological developments in aerospace industry and rising energy demands are the major factors contributing to the growth.
.png "Asia Pacific Ceramic Matrix Composites 2019-2028 (USD Million)")
The major players of the global ceramic matrix composites market are General Electric Company, Rolls-Royce Plc, SGL Carbon, United Technologies, COI Ceramics Inc., Lancer Systems, Coorstek Inc., Applied Thin Films Inc., Ultramet, and CFC Carbon Co., Ltd. Moreover, the additional prospective market players in the ceramic matrix composites market are Composites Horizons, and Pyromeral Systems. Renowned companies are offering new and modern ceramic matrix composites solutions, and have increased production capacity in Asia Pacific due to application growth in the region. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.