Ceramic Matrix Composites Market worth 7.51 Billion USD by 2026

The report "Ceramic Matrix Composites Market by Matrix Type (Oxide/Oxide, SiC/SiC, Carbon/Carbon), Application (Aerospace & Defense, Automotive, Energy & Power, Electrical & Electronics), and Region - Global Forecast to 2026", The ceramic matrix composites market is projected to reach USD 7.51 Billion by 2026, growing at a CAGR of 9.65% from 2016 to 2026.

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The demand for lightweight and high-performance ceramic matrix composites in automotive and aerospace & defense applications is propelled by regulatory norms emphasizing on the use of lightweight and fuel-efficient materials.

Carbon/carbon ceramic matrix composites comprise a major share in the ceramic matrix composites market in terms of value and volume

Carbon/carbon (C/C) ceramic matrix composites segment has the largest market share and is projected to grow at the highest CAGR in the global ceramic matrix composites market. There is a high demand for C/C ceramic matrix composites for wide body commercial aircraft. C/C ceramic matrix composites are considered as a material of choice for braking systems in aerospace and automotive industry, due to their low weight, high friction, and temperature resisting properties. In the aerospace & defense applications, it is largely used to make brakes, nose cones, and wing leading edges of the space shuttle orbiter. In the automotive applications, it is majorly used in the brake systems of luxury and sports cars. In addition to this, the mass production of ceramic matrix composites using carbon fibers leads to lower prices of carbon/carbon ceramic matrix composites, which makes it a popular commercial choice over other matrix composites.

Ceramic matrix composites are extensively used in the aerospace & defense application

Owing to their high strength and light weight, majority of the ceramic matrix composites are used to make exterior aerospace & defense components such as exhaust nozzle, nose cap, and engines. Therefore, major companies operating in the ceramic matrix composites market are expanding their production facilities to meet the increasing demand for ceramic matrix composites from aircraft manufacturers.

North America accounts for a major market share of the ceramic matrix composites market

North America accounted for the largest share of the ceramic matrix composites market, globally, in 2015. The growth of the ceramic matrix composites market in this region is driven mainly by the growing aerospace & defense industry owing to low interest rates, presence of established ceramic matrix composites players, and stringent environmental regulations emphasizing on the use of lightweight and fuel-efficient materials. Major industry leaders in the ceramic matrix composites market have announced significant investments for construction of new manufacturing facilities to develop next generation gas turbine engines to meet the demand for greater fuel efficiency in aviation propulsion. For example, General Electric Company has orders for more than 6,000 new LEAP gas turbine engine units which are made from ceramic matrix composites. Rolls-Royce and Boeing/ATK-COIC are also anticipating similar investments in the U.S. to produce ceramic matrix composites’ components for gas turbine engines. These investments in the U.S. are expected to further boost the ceramic matrix composites market in North America.

Some of the key global players in the aerospace composites market are General Electric Company (U.S.), Rolls-Royce Plc. (U.S.), SGL Group (Germany), COI Ceramics (U.S.), United Technologies (U.S.), CeramTec (Germany), Lancer Systems (U.S.), CoorsTek (U.S.), Applied Thin Films (U.S.), Ultramet (U.S.), and others. These players have adopted various organic and inorganic developmental strategies during the past five years.

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