Ceramic matrix composites, the materials fabricated by embedding ceramic fibers in a ceramic matrix, are finding an increasing number of applications across a number of industries and areas owing to their low weight, high strength, and excellent performance capability at high temperatures. From their use for the construction of exterior components of aerospace and defense vehicles, automobiles to their use in automobile brakes and bulletproof armors, the array of applications of ceramic matrix composites is rapidly expanding.
This report on the global ceramic matrix composites market presents an exhaustive account of the market as observed in present times and includes vast forward-looking statements forecasting the growth prospects of the market over the period between 2016 and 2024. The report examines factors such as growth drivers, trends, opportunities, challenges, and regulatory aspects on the market’s future growth prospects. A detailed overview of the market’s competitive landscape is also presented in the report, with the help of thorough business profiles of some of the leading companies in the market, SWOT analysis of all companies profiled, and other details.
Global Ceramic Matrix Composites Market: Trends and Opportunities
The global market for ceramic matrix composites is expected to exhibit a healthy CAGR over the report’s forecast period, with rising demand across industries such as aerospace, defense, and automotive expected to be the key driving force. The market is expected to benefit from the rising focus on the development of vehicles that are lightweight and thus are more fuel-efficient than their heavier counterparts.
Of the key product varieties available in the market, including oxide ceramic matrix composites, silicon carbide ceramic matrix composites, and carbon ceramic matrix composites, the segment of carbon ceramic matrix composites presently accounts for the leading share in the global market. This is chiefly attributed to the high strength of the material, an extensive set of applications, and an economical commercial production using carbon fiber, allowing the material to be available at competitive costs as compared to other ceramic matrix composites.
Of the key end-user industries employing ceramic matrix composites, the aerospace industry presently accounts for the dominant share owing to usage in high-cost aerospace components. The power production and transmission industry is also expected to emerge as a leading consumer of a variety of ceramic matrix composites in the next few years owing to the excellent thermal stability of these materials.
Global Ceramic Matrix Composites Market: Regional and Competitive Outlook
From a geographical perspective, the global ceramic matrix composites market has been examined in the report for regional markets such as North America, Europe, Asia Pacific, and Middle East and Africa. Of these, the North America market presently holds a dominant share in the global market, chiefly owing to high adoption across the aerospace and automotive industries. Presence of some of the world’s leading ceramic matrix composites manufacturers is also a key factor driving the North America market.
In the next few years, however, the Asia Pacific market for ceramic matrix composites is expected to emerge as the fastest growing regional market. The thriving automotive, aerospace, and defense industries in the region are expected drive the demand for a variety of ceramic matrix composites in the region over the report’s forecast period.
The report profiles some of the leading companies operating in the global ceramic matrix composites market, including SGL Carbon Company, General Electric Company, Pratt & Whitney, 3M Company, Ube Industries, Ltd., CoorsTek, Inc., CeramTec International, and Applied Thin Films, Inc.
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