What is the major driving factor to favor the ceramic matrix composites market all over the globe?

"The ceramic matrix composites market accounted to US$ 8,560.0 Mn in 2018 and is expected to grow at a CAGR of 9.1% during the forecast period 2020 - 2027, to account to US$ 18,485.0 Mn by 2027."

Ceramic Matrix Composites (CMCs) are the materials consisting of a ceramic matrix combined with ceramic material reinforcements such as oxides or carbides. Ceramic materials are inorganic and nonmetallic solids, which are crystalline. They exhibit improved crack resistance and do not rupture easily under heavy loads as compared to conventional technical ceramics.

Ceramic Matrix Composites (CMC) are the materials consisting of a ceramic matrix combined with ceramic oxides or carbides. Ceramic materials are inorganic and nonmetallic solids, which are crystalline. They exhibit improved crack resistance and do not rupture easily under heavy loads as compared to conventional technical ceramics.
Ceramic matrix composites reinforced by either continuous long fibers or discontinuous short fibers. High mechanical strength, high stiffness, high thermal and shock resistance, high thermal stability, high corrosion resistance, and lightweight making them suitable for the number of applications in aerospace & defense, automotive, energy, and power industries. These favorable characteristics of the ceramic matrix composites is helping the product to grow and is being considered in a wide range of end user industry.

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Company Profiles

o Applied Thin Films, Inc.
o COI Ceramics, Inc.
o Coorstek, Inc.
o General Electric Company
o Kyocera Corporation
o Lancer Systems, LP
o SGL Carbon SE
o Starfire Systems, Inc.,
o The 3M Company
o Ultramet, Inc.

Rapid growth in automotive sector across developing economies has led to the growth of ceramic matrix composites market

The high-temperature resistance and high tensile strength of ceramic matrix composites make it ideal for automotive applications. Automotive manufacturers prefer to use ceramic matrix composites in their automotive engine components. This has led to the growth of ceramic matrix composites market. Ceramic matrix composites are durable, lighter, and can withstand very high temperatures. They are heat-resistant and can operate with little or no cooling, thus reducing the use of cooling air in engines. These features of ceramic matrix composites projected to replace conventional alloys and metal components in automotive engines, which helps to reduce the weight of automobiles and achieve higher efficiency.

The automobile industry in developing economies such as China, India & Japan is outpacing at a higher rate. According to the International Organization of Motor Vehicle Manufacturers, China continues to be the world's largest vehicle market, with a rise of 3.19% in the annual production of motor vehicles. Factors such as reduced tariffs on imported cars and auto parts coupled with the increase in production of personal passenger cars and commercial vehicles will drive the demand for ceramic matrix composites in the automobile industry drives the growth of the ceramic matrix composites market.

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Frequently Asked Questions

Which product type is leading the ceramic matrix composites market?

Global ceramic matrix composites market in oxides product is expected to grow at a CAGR of 8.7% during the forecast period 2019 �EUR" 2027. The oxides ceramic matrix composites are gaining increasing importance as a mainstream material alternative for the high-temperature components, mainly in the industrial, advanced energy and aerospace sectors. These materials are known to compete with other alternatives such as titanium in terms of cost-reductions. The oxide ceramic matrix composites have significant potential in the oxidation sensitive component applications. The demand for oxide ceramic matrix composites has been growing considerably in the aerospace sector for turbine engines and other high-temperature components.
The oxide ceramic matrix composites have excellent thermal and mechanical properties coupled with damage-tolerant quasi ductile fracture behavior, which has been a significant factor for its application in the high temperature processes.

Which region has accounted to hold the largest share for the global ceramic matrix composites market?

The North American region led the ceramic matrix composites market in 2018. North America comprises developed and developing countries such as the US, Canada, and Mexico. North America will account for a remarkable share in the ceramic matrix composites market owing to the rigorous growth of aerospace and defense spending in the region. Over the forecast period, the commercial aerospace sector is also expected to gain significant movement. Rigorous research and development activities by the United States Environmental Protection Agency (USEPA) for developing renewable energy sources are expected to create lucrative opportunities for ceramic matrix composites market in the region. Further, North America region has the existence of several ceramic matrix composite manufacturers such as COI Ceramics, INC. and Applied Thin Films, Inc., which are mainly focused on the adoption of various business strategies for increasing their production capacity.

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