Press release
Global Ceramic Matrix Composites Market to Reach $13.35 Billion by 2029, Growing at 12.3% CAGR
Ceramic Matrix Composites
Globally, the ceramic matrix composites market is growing due to the great demand for lightweight automobiles. A surge in the demand for less heavy electric vehicles is making manufacturers look towards lighter composite materials instead of the traditionally heavier steel and iron used in vehicles. As an illustration, data from CEIC Data, a data analytics firm based in China, indicated that in February 2023, the motor vehicle production in the United States escalated to 10.61 million units from 10.05 million units in December 2022. This represents around 5.56% year-over-year growth in vehicle production. Therefore, the high demand for lighter automobiles is expected to be a significant driver for the ceramic matrix composites market.
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What growth opportunities are expected to drive the ceramic matrix composites market's CAGR through 2034?
In recent years, the ceramic matrix composites market has witnessed profound growth. The market size, which stood at $7.63 billion in 2024, is set to reach $8.4 billion in 2025, with a compound annual growth rate (CAGR) of 10.1%. The substantial growth experienced in the previous years can be linked to increased demand for consumer electronic goods, substantial economic development in burgeoning markets, increased levels of disposable income, and a surge in air travel demand.
In the forthcoming years, the ceramic matrix composites market's size is anticipated to witness a rapid surge, expanding to $13.35 billion in 2029 with a compound annual growth rate (CAGR) of 12.3%. This expected growth in the specified forecast duration is due to the escalating demand for lightweight cars, increasing preference for electric vehicles, rising need for portable electronic devices that use ceramic matrix composites, and an amplified demand in the healthcare industry. The primary trends to watch for in this forecast period encompass emphasis on technological advancement, partnerships and collaborations, 3D printing technology, the creation of innovative solutions, R&D activities, and the production of geopolymer matrix composites.
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What are the emerging trends shaping the future of the ceramic matrix composites market?
Major businesses in the ceramic matrix composites market are predominantly striving to implement high-performance technologies like carbon fiber-reinforced ceramic matrix composites to attain a competitive superiority by offering lightweight, long-lasting materials suitable for high-performance usage. Carbon fiber-reinforced ceramic matrix composites (C/C CMCs) merge the lightweight and high-strength attributes of carbon fibers with the high-temperature tolerance and durability of ceramic matrices, positioning them perfectly for demanding applications in aerospace, defense, and industrial fields. For example, in August 2024, Arceon, a tech firm based in the Netherlands, introduced Carbeon C/C-SiC ceramic matrix composites, which are designed for high-performance usages in the domains of space, defense, and industry. These progressive materials are purposely fashioned for challenging surroundings, such as rocket nozzles and components for the International Space Station (ISS). The Carbeon composites are meant to endure extreme heat, radiation, and vacuum conditions, rendering them suitable for upcoming aerospace applications.
Which growth-oriented segments of the ceramic matrix composites market are leading the industry's development?
The ceramic matrix composites market covered in this report is segmented -
1) By Type: Oxide, Carbon/Silicon Carbide, Carbon, Silicon Carbide
2) By Category: Short Fiber, Long Continuous Fiber, Whiskers
3) By Production Method: Powder Dispersion, Reactive Melt Infiltration, Polymer Impregnation And Pyrolysis, Gaseous Infiltration, Chemical Vapor Infiltration, Sol-Gel, Other Production Methods
4) By End-Use Industry: Aerospace And Defense, Automotive, Energy And Power, Electricals And Electronics, Other End-Use Industries
Subsegments:
1) By Oxide: Alumina/Alumina Composites, Zirconia/Zirconia Composites
2) By Carbon/Silicon Carbide: Carbon Fiber-Reinforced Silicon Carbide (C/SiC), Silicon Carbide Matrix Composites
3) By Carbon: Carbon Fiber-Reinforced Carbon Composites (C/C), Pitch-Based Carbon Composites
4) By Silicon Carbide: SiC Fiber-Reinforced SiC Composites, SiC Matrix Composites
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What regions are leading the charge in the ceramic matrix composites market?
North America will be the largest region in the ceramic matrix composites market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the ceramic matrix composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the ceramic matrix composites market?
Major companies operating in the ceramic matrix composites market include 3M Company, General Electric Company, CeramTec GmbH, Coorstek, Inc., Kyocera Corporation, Ube Industries Ltd, SGL Carbon Company, Rolls-Royce plc, Applied Thin Films Inc, Ultramet, CFC Carbon Co. Ltd, Karbon composites & Technology Co Ltd, Neo Carbon Fiber, China Composites Group Corp Ltd, DJT Carbon Co Ltd, ZhongAo Carbon, Tasuns Composite Technology, Zhejiang Xinchor Technology Co Ltd, HangFung Technology, Sichuan Chang Yang Composites Company Limited, ShenZhen RuiTai Carbon, Dongguan Roche Industrial Co. Ltd, Safran, Cemacon, Ceramica S.A, COI Ceramics, Axiom Materials Inc., Raytheon Technologies, Lancer Systems, United Technologies
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What Is Covered In The Ceramic Matrix Composites Global Market Report?
•Market Size Forecast: Examine the ceramic matrix composites market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the ceramic matrix composites market for a structured understanding.
•Key Players Overview: Analyze major players in the ceramic matrix composites market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ceramic matrix composites market.
•Segment Contributions: Evaluate how different segments drive overall growth in the ceramic matrix composites market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ceramic matrix composites market.
•Industry Challenges: Identify potential risks and obstacles affecting the ceramic matrix composites market.
•Competitive Landscape: Review strategic developments in the ceramic matrix composites market, including expansions, agreements, and new product launches.
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