Global Ceramic Matrix Composites Market to Grow at Over 8% CAGR through 2026

The ceramic matrix composites market is likely to grow at a CAGR of over 8% during the assessment period 2017-2026, according to a new business intelligence study added to the repository of Market Research Reports Search Engine (MRRSE). According to the study, the global ceramic matrix composites market is likely to surpass US$ 6.5 Bn in revenues by the end of 2026.

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According to the research study, growing use of ceramic matrix composites in various manufacturing processes is likely to provide an impetus to growth during the assessment period. The marketing and supply chain activities in the global manufacturing sector are likely to provide an impetus to growth during the assessment period. The report finds that lack of sufficient capital continues to be one of the leading barriers to the growth of the market.

According to the report, although the outlook on the ceramic matrix composites market remains positive, high cost of these materials continues to pose challenges for the growth of the market. The ceramic matrix composites are usually used in premium applications such as thermal management and defense, and these factors are likely to provide an impetus to growth. Manufacturers are aware of the challenges in terms of uptake, and it is highly likely that demand will grow once advancements in metal joining and mining come to fruition.

According to the research study, Asia Pacific excluding Japan (APEJ) will continue to be one of the leading markets for ceramic matrix composites around the globe. Availability of low-cost labor, combined with presence of several manufacturing hubs in the region, is likely to provide an impetus to growth during the assessment period. In addition to APEJ, North America and Europe are likely to be the other key growth markets for ceramic matrix composites. Collectively, Europe and North America are likely to account for nearly one-third revenue share of the market.

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On the basis of product type, SiC/SiC and oxides/oxides are the preferred material among end-users, and the status quo is unlikely to change during the assessment period. In addition to these, demand for carbon/carbon composites is also likely to increase at a significant CAGR during the assessment period.

Analyzing the end-use industry, the report notes that automotive will continue to be one of the leading demand generators during the assessment period. In addition to the automotive sector, demand is also likely to increase on account of electrical, electronics, energy, and power segment.

Some of the leading players in the ceramic matrix composites market include Specialty Materials, Inc., CoorsTek, Ultramet, CeramTec, COI Ceramics, Clariant Corporation (KiON Corporation), and Lancer Systems.

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This release was published on openPR.