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Ceramic Matrix Composites Market Analysis and In-depth study on Industry Trends and Regional Forecasts to 2023
According to a new report published by Allied Market Research, titled, "Ceramic Matrix Composites Market by Fiber Type, Type, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global ceramic matrix composites market was valued at $3,900 million in 2016, and is projected to reach at $7,707 million by 2023, growing at a CAGR of 10.3% from 2017 to 2023. The oxide-oxide (Ox/Ox) segment accounted for the maximum share of total market in 2016.
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The oxide-oxide segment accounted for the maximum share, in terms of volume, in 2016. Moreover, this segment witnesses strong demand for aerospace, defense, and energy & power applications, owing to improved properties of oxide compounds such as no oxidation, fracture resistant, and less expensive production process.
Key Findings of the Ceramic Matrix Composites Market:
• In terms of value, the silicon carbide reinforced silicon carbide (SiC/SiC) segment is anticipated to exhibit the highest growth rate of 10.7% during the analysis period.
• Asia-Pacific is anticipated to lead the market in 2023, and is projected to grow with a CAGR of 11.0%, in terms of value.
• The aerospace & defense segment occupied one-third of the total market in 2016.
• Brazil occupied more than one-third of the total LAMEA ceramic matrix composites market in 2016.
• In terms of value, Japan is expected to grow at a CAGR of 11.7% from 2017 to 2023.
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At present, the global market witnesses numerous opportunities, owing to high temperature stability and better thermal shock resistance boosting the demand for aircraft component production. Moreover, the energy & power segment is estimated to emerge as the growing application of ceramic composites. In addition, growth in the aerospace & defense sectors and installation of new power plants in Asia-Pacific are expected to boost the market growth. However, surge in customization requirement and slower adoption in newer applications are expected to restrict the market growth during the forecast period.
Top Key Players :
• Rolls-Royce PLC.
• COI Ceramics Inc.
• SGL Group. Ceramtec
• Lancer Systems.
• Coorstek Inc.
• Applied Thin Films Inc.
• Ultramet
• Composites Horizons
• Starfire Systems Inc.
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Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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