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Global Ceramic Matrix Composites Market Reaching at a CAGR of +8.9% by 2024
"Ceramic Matrix Composites Market" - Global Industry Trends and Forecast to 2024
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Market Definition: Global Ceramic Matrix Composites Market
Ceramic matrix composite is the composite material consisting of ceramic fibre which shows considerable promise to provide fracture-toughness values as similar to other metals such as iron. It has its wide application in aerospace & defense, automotive, energy & power, electricals & electronics, and others. Growing demand for ceramic matrix composites in the aerospace & defense and energy & power industries may act as the major driver in the growth of global ceramic matrix composite market. On the other side, higher costs compared to other metals and alloys may hinder the market.
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Major Market Drivers: Global Ceramic Matrix Composites Market
• Need to reduce weight to optimize efficiency in automotive applications
• Growing demand for ceramic matrix composites in the aerospace & defense and energy & power industries
• Excellent performance properties at very high temperatures
• Higher costs compared to other metals and alloys
• High customization requirement for end-use applications
On the basis of matrix type, global ceramic matrix composites market is segmented into C/C ceramic matrix composites, C/SIC ceramic matrix composites, oxide/oxide ceramic matrix composites, SIC/SIC ceramic matrix composites.
On the basis of application, the global ceramic matrix composites market is segmented into aerospace & defense. The aerospace & defense segment is further sub segmented into gas turbine engine, nozzle, and nose cap. The automotive segment is further sub segmented into brake discs, and engines. The energy & power segment is further sub segmented into next generation nuclear reactors, and heat exchangers. The electricals & electronics segment is further sub segmented into electronics packaging systems. The others segment is further sub segmented into industrial, marine, and biomedical.
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Based on geography, the global ceramic matrix composites market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
The Global Ceramic Matrix Composites Market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Some of the major players in global ceramic matrix composites market are:
• General Electric
• Rolls-Royce plc
• COI Ceramics, Inc.
• SGL Group
• UNITED TECHNOLOGIES
• CeramTec
• Lancer Systems
• CoorsTek Inc.
• Ultramet
• Applied thin films Inc.
• Composites Horizons
• Starfire Systems, Inc.
• GrafTech International
• PYROMERAL SYSTEMS
• Others
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