Increasing Demands in Aerospace and Automotive Sector Driving Ceramic Matrix Composites Market at a CAGR of 10.3% by 2023

Ceramic matrix composites are considered as materials consisting of ceramic matrix combined with a ceramic, such as oxides and carbides, in the dispersed phase. These materials exhibit multiple physical & mechanical properties such as high refractoriness and brittleness. Moreover, the ceramic fiber composites provide toughness and strength at high temperatures, therefore find wide application in aerospace & defense industry in ballistic applications.

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.

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.

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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.

Ceramic matrix composites (CMCs) are utilized in structural components of aircraft, which include gas turbine engines, nose cap, exhaust nozzle, braking systems, thermal barriers, missile propulsion systems, and engine components. Moreover, the enhanced utilization of ceramic composites has increased in various applications such as energy & power, electricals & electronics, marine, and industrial applications. In addition, the demand for C/C ceramic matrix composites has increased among brake systems of aircraft, owing to its lesser weight. The aerospace & defense segment is the largest, in terms of value, while the automotive segment is growing at the highest rate from 2017 to 2023 in the market.

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.

List of Tables

TABLE 1. GLOBAL CERAMIC MATRIX COMPOSITES MARKET BY FIBER TYPE, MARKET VOLUME 2016-2023 (TONS)
TABLE 2. GLOBAL CERAMIC MATRIX COMPOSITES MARKET BY FIBER TYPE, MARKET REVENUE 2016-2023 ($MILLION)
TABLE 3. GLOBAL SHORT FIBER CERAMIC MATRIX COMPOSITES MARKET BY REGION, MARKET VOLUME 2016-2023 (TONS)
TABLE 4. GLOBAL SHORT FIBER CERAMIC MATRIX COMPOSITES MARKET BY REGION, MARKET REVENUE 2016-2023 ($MILLION)
TABLE 5. GLOBAL LONG FIBER CERAMIC MATRIX COMPOSITES MARKET BY REGION, MARKET VOLUME 2016-2023 (TONS)
TABLE 6. GLOBAL LONG FIBER CERAMIC MATRIX COMPOSITES MARKET BY REGION, MARKET REVENUE 2016-2023 ($MILLION)
TABLE 7. GLOBAL CERAMIC MATRIX COMPOSITES MARKET BY TYPE, MARKET VOLUME 2016-2023 (TONS)
TABLE 8. GLOBAL CERAMIC MATRIX COMPOSITES MARKET BY TYPE, MARKET REVENUE 2016-2023 ($MILLION)
TABLE 9. GLOBAL SIC/SIC CERAMIC MATRIX COMPOSITES MARKET BY REGION, MARKET VOLUME 2016-2023 (TONS)
TABLE 10. GLOBAL SIC/SIC CERAMIC MATRIX COMPOSITES MARKET BY REGION, MARKET REVENUE 2016-2023 ($MILLION)
TABLE 11. GLOBAL C/SIC CERAMIC MATRIX COMPOSITES MARKET BY REGION, MARKET VOLUME 2016-2023 (TONS)
TABLE 12. GLOBAL C/SIC CERAMIC MATRIX COMPOSITES MARKET BY REGION, MARKET REVENUE 2016-2023 ($MILLION)
TABLE 13. GLOBAL C/C CERAMIC MATRIX COMPOSITES MARKET BY REGION, MARKET VOLUME 2016-2023 (TONS)
TABLE 14. GLOBAL C/C CERAMIC MATRIX COMPOSITES MARKET BY REGION, MARKET REVENUE 2016-2023 ($MILLION)
TABLE 15. GLOBAL OX/OX CERAMIC MATRIX COMPOSITES MARKET BY REGION, MARKET VOLUME 2016-2023 (TONS)
TABLE 16. GLOBAL OX/OX CERAMIC MATRIX COMPOSITES MARKET BY REGION, MARKET REVENUE 2016-2023 ($MILLION)
TABLE 17. GLOBAL CERAMIC MATRIX COMPOSITES MARKET BY END-USER, MARKET VOLUME 2016-2023 (TONS)
TABLE 18. GLOBAL CERAMIC MATRIX COMPOSITES MARKET BY END-USER, MARKET REVENUE 2016-2023 ($MILLION)
TABLE 19. GLOBAL CERAMIC MATRIX COMPOSITES MARKET IN AEROSPACE & DEFENSE BY REGION, MARKET VOLUME 2016-2023 (TONS)

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