Ceramic Matrix Composites Market to witness high growth in near future | key players are SGL group, General Electric Company, CeramTec International, Applied Thin Films Inc., 3M Company
Asia Pacific shall be the fastest growing region for the ceramic matrix composites market over the forecast timespan. The growing aerospace and defense industry, along with huge investments flowing in from governments on construction of new nuclear and alternative energy source power plants are the key factors responsible for the rising product demand in Asia Pacific.
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Global Ceramic Matrix Composites Market size is likely to witness significant gains, expanding at a high CAGR by 2024. Ceramic matrix composites are a subgroup of technical ceramics and composite materials. Properties such as electrical conductivity and high thermal stability have made ceramic matrix composites suitable for numerous thermal and related applications where weight to strength ratio and high efficiency is of utmost importance.
The enormous demand for lightweight, fuel efficient and superior durability materials from aerospace and defense industry is likely to propel the overall ceramic matrix composites market over the coming years.
Reasons to Buy This Report:
1. Ceramic Matrix Composites Market size & share forecast by product & application 2017-2024
2. Growth drivers, pitfalls & industry challenges
3. Key Ceramic Matrix Composites Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
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The prominent players operating in the industry are SGL group, General Electric Company, CeramTec International, Applied Thin Films Inc., 3M Company, COI Ceramics Inc. and Rolls-Royce PLC. Other companies include Ultramet Inc., Starfire Systems Inc., United Technologies and Ube Industries Limited. The major companies have their patented technology for the product manufacturing, and some companies borrow the patented technologies. This is done to gain competitive advantage in the business. For instance, NASA uses technology developed by Pratt & Whitney for designing ultra-high bypass ratio geared turbofan engines.
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