“Ceramic matrix composites market projected to grow at a CAGR of 9.65%”
The global ceramic matrix composites market is projected to reach USD 7.51 billion by 2026, at a CAGR of 9.65% from 2016 to 2026. The major drivers stimulating the growth of the global ceramic composites market are the increasing demand for low weight, fuel efficient, and high friction and high temperature resisting materials from aerospace & defense and automotive applications. However, issues related to higher costs of matrix generation by expensive batch processes at high temperature compared to other metals and alloys and high customization requirements for end-use applications are the major restraints for the growth of the ceramic matrix composites market.
“Aerospace & defense application accounted for the largest share of the ceramic matrix composites market, by value.”
Ceramic matrix composites are extensively used in aerospace & defense structural components such as nose caps, exhaust nozzles, braking systems, thermal barriers, missile propulsion systems, and engine components. The key drivers for ceramic matrix composites in aerospace & defense applications are the growing demand for brakes, engines, and nozzle systems as well as high performance properties such as light weight and ability to survive at higher temperatures. Thus, investing in ceramic matrix composites production for engine components and nozzle would be the most profitable revenue pocket for stakeholders.
“North America is the fastest-growing market for ceramic matrix composites.”
North America is expected to be the fastest-growing market for ceramic matrix composites during the forecast period. Increasing demand of ceramic matrix composites for engine components is driving the growth of the ceramic matrix composites market in North America. The U.S. leads the market for ceramic matrix composites in North America. The penetration of ceramic matrix composites in the U.S. aerospace & defense industry is expected to further increase due to capacity expansions by major composite manufacturers, increased budget for aerospace & defense sector, and growth in the aerospace & defense industry due to a stable economy.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
• By Company Type: Tier 1 – 35%, Tier 2 – 25%, and Tier 3 – 40%
• By Designation: C Level – 25%, Director Level – 35%, and Others –40%
• By Region: North America – 29%, Europe – 24%, Asia-Pacific – 33%, Latin America – 9% and Middle East & Africa – 5%
The report provides a comprehensive analysis of company profiles, which include:
• General Electric Company (U.S.)
• Rolls-Royce Plc. (U.S.)
• SGL Group (Germany)
• COI Ceramics (U.S.)
• United Technologies (U.S.)
• CeramTec (Germany)
• Lancer Systems (U.S.)
• CoorsTek (U.S.)
• Applied Thin Films (U.S.)
• Ultramet (U.S.)
The report covers the global ceramic matrix composites market and the usage of ceramic matrix composites in various sectors such as aerospace & defense, automotive, energy & power, and electrical & electronics. It aims at estimating the market size and future growth potential of this market across different segments such as applications, matrix types, and regions. The report also includes an in-depth competitive analysis of the key market players along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons to buy the report:
The report will help market leaders/new entrants in this market by providing them the closest approximations of the revenues for the overall ceramic matrix composites market and its subsegments. This report will help stakeholders to better understand the competitive landscape and gain more insights to better position their businesses and market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.