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Ceramic Matrix Composites Market IS Dominated by North America

02-06-2023 10:24 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Intelligence

Ceramic Matrix Composites Market IS Dominated by North America

The total size of the ceramic matrix composites market was USD 3,090 million in 2022, and it will reach USD 7,596 million by 2030, powering at a rate of 11.90% in the years to come, as per a report by a market research firm, P&S Intelligence.

The oxide category had the largest revenue share, of 31%, in the past, and it will maintain its dominance in the years to come.

Browse full report at: https://www.psmarketresearch.com/market-analysis/ceramic-matrix-composites-market

This has a lot to do with the increasing requirement in Europe and North America because of the vast count of product suppliers, growing use in the automotive sector, and increasing traction as a mainstream choice for high-temperature components in the aerospace and cutting-edge energy industry.

Asia-Pacific will grow the fastest, powering at a rate of 12.8%. This can be credited to the growing consumption of energy, outlay on defense, and investments in projects of space exploration, in China and India, which, in turn, are generating a high requirement for CMCs.

Europe had a significant share of revenue in the past and it will maintain its position in the years to come, advancing at a considerable rate. This has a lot to do with the well-established automobile sector, the existence of numerous vehicles along with auto parts manufacturers, and the increasing preference of customers for light-weighted vehicles.

Download sample pages of this report: https://www.psmarketresearch.com/market-analysis/ceramic-matrix-composites-market/report-sample

It is because of the increasing requirement for lightweight vehicles and growing energy and power industry, the demand for ceramic matrix composites in the years to come.

Browse more reports:

Carbon Capture, Utilization, and Storage Market - https://www.psmarketresearch.com/press-release/carbon-capture-utilization-storage-market

Silicone Elastomers Market - https://www.psmarketresearch.com/press-release/silicone-elastomers-market

Contact:
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Blog: https://chemicalmaterialsnews.blogspot.com

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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