Global Ceramic Matrix Composites Market Size, Share, Development, Growth and Demand forecast to 2023

The global market for ceramic matrix composites (CMC) is estimated to rise during the forecast period (2017-2023) on account of high temperature stability, fuel efficiency, low weight and high strength coupled with increasing demand from the aerospace and defense industries. Additionally, the demand in automotive, aerospace and defense industries is driven by the government regulations focusing on the practice of lightweight and fuel-efficient materials. Enhanced performance and robust structures are driving the ceramic matrix composites market in applications such as electronics, thermal management, aerospace and defense.

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Ceramic matrix composites are materials wherein one or more distinct ceramic phases are attached to one another for enhancing the properties which are not present in monolithic ceramic materials. CMCs operate at a temperature beyond the competence of nickel alloys present in high-pressure turbines, and they do not require extensive cooling, providing an enhancement to the cycle.

The ceramic matrix composite market is segmented on the basis of matrix type, application type and region. By matrix type, CMCs includes carbon/carbon, oxide/oxide, Silicon Carbide/Silicon Carbide. Carbon/Carbon ceramic matrix composites are a group of materials consisting of carbon or graphite matrix reinforced to other carbon or graphite fibers, thus bringing an increase in strength, versatility and toughness of composites.

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On the basis of end use industry, the ceramic matrix composite is classified into aerospace and defense sector, automotive sector, energy and power sector, and electrical and electronics sector. High thermal stability coupled with improved shock resistance would generate a demand for ceramic matrix composite in aircraft component production. Aerospace and defense sectors are the largest growing segment on account of CMC properties such as dynamic load resistance, improved flexibility and thermal shock resistance to be utilized in bullet proof armors and insulation in small arms weapons. Additionally, ceramic matrix composite finds application in structural components of aircrafts and luxury cars such as in gas turbine engines, nose cap, exhaust nozzle, braking systems, thermal barriers, missile propulsion systems and engine component.

Energy and power is projected to be the fastest-growing segment mainly in fission and fusion nuclear reactors due to their ability to withstand radiation and thermal stability.

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