NEW YORK, US, March 01, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Ceramic Matrix Composites Market Size, Share, Growth Analysis Report By Fiber Type (Continuous, Woven, and Others (Chopped, Felt/Mat, Twills, and Braided)), By Matrix Type (C/C, C/SIC, Oxide/Oxide, SIC/SIC), By End-use Industry (Aerospace & Defense, Automotive, Energy & Power, Industrial, and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global ceramic matrix composites market size & share was valued at approximately USD 8,492.40 million in 2021. The market is expected to grow above a CAGR of 10.70% and is anticipated to reach over USD 15628.45 million by 2028.”
The report analyses the ceramic matrix composites market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global market.
What are Ceramic Matrix Composites? How big is the Ceramic Matrix Composites Industry?
- Market Overview:
Ceramic fibers are placed in a ceramic matrix to create ceramic matrix composites (CMCs), a type of ceramic fiber-reinforced material. Composite materials comprise at least two components: the matrix material, which binds everything together, and the reinforcement, which offers unique mechanical qualities like stiffness or strength. CMCs are a specific composite material in which the matrix material (ceramic) and reinforcement (refractory fibers) are both ceramics.
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These composites are made to increase the hardness of ordinary ceramics, whose primary drawback is their tendency to break easily. Excellent wear and corrosion resistance, low weight, and chemical stability are just a few benefits they provide. Inorganic, nonmetallic solids with crystalline structures make up ceramic materials. Comparing CMCs to traditional technical ceramics, we can see that the former has better fracture resistance and does not easily break under considerable pressures.
Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the updated report.
- About 230+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Historical and Forecast Growth, Porter's 5 Forces Analysis
- Facts and Factors research methodology
Key Insights from Primary Research
- As per the analysis, the ceramic matrix composites market is likely to grow above a CAGR of around 10.70% between 2022 and 2028.
- The Ceramic Matrix Composites market size was worth around US$ 8,492.40 million in 2021 and is estimated to hit approximately US$ 15628.45 million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The ability to withstand high temperatures, superior mechanical qualities, and increased demand from the aerospace & military, automotive, and energy & power end-use sectors are anticipated to propel the market for ceramic matrix composites.
- By fiber type, the continuous category dominated the market in 2021.
- The SiC/SiC category dominated the market by matrix type in 2021.
- Based on regional segment analysis, the North America region dominated the global ceramic matrix composites market in 2021.
Competitive Players
The report contains qualitative and quantitative research on the global ceramic matrix composites market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global ceramic matrix composites market include;
- General Electric Company
- Rolls-Royce
- Axiom Materials Inc.
- SGL Carbon
- United Technologies
- 3M Company
- COI Ceramics
- Lancer Systems
- CoorsTek
- Applied Thin Films
- Ultramet
- CFC Carbon Co. Ltd.
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Market Growth Dynamics:
Industry Growth Drivers & Restraints:
The key factor driving the growth of the ceramic matrix composites market is the rapid expansion of the automotive industry across developing nations like China and India, as well as the rise in demand for ceramic matrix composites due to their low weight and high friction, and temperature-resistant properties. Additionally, the desire for lightweight and fuel-efficient cars has surged, increasing the demand for ceramic matrix composites in the automotive sector and fueling market expansion.
The global ceramic matrix composites market is anticipated to increase, but issues such as the high cost of CMCs relative to other metal alloys are predicted to hinder it. On the other hand, it is projected that adopting low-cost production technologies would open up the good potential for market development.
COVID-19 Impact Analysis:
The ceramic matrix composites market is predicted to decline in 2021 as a result of the COVID-19 pandemic. The entire world has been adversely affected by this awful illness, but especially North America and Europe. The pandemic has created extremely difficult conditions for the aerospace, defence, and automotive industries.
Businesses stopped operating and shut down their factories, and the government reduced production to stop the virus from spreading. In all industries, the use of ceramic matrix composites has dropped as a result.
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Segmentation Analysis:
The global ceramic matrix composites market is segregated based on fiber, matrix, end-use industry, and region.
Based on fiber type, the market is segmented into continuous, woven, and others (chopped, felt/mat, twills, and braided). The continuous segment dominates the market in 2021. Based on matrix type, the market is segmented into C/C, C/SiC, oxide/oxide, and SiC/SiC. The silicon carbide reinforced silicon carbide (SIC/SIC) segment dominates the market in 2021.
Based on the end-use industry, the market is classified into aerospace & defense, automotive, energy & power, industrial, and others (electrical & electronics, medical, and marine). Among these, the aerospace & defense segment dominate the market in 2021.
Regional Analysis:
- North America dominated the ceramic matrix composites market in 2021
The global ceramic matrix composites market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. In 2021, the North American region dominated the ceramic matrix composites market. The expanding aerospace and military sectors are the key drivers of this region's ceramic matrix composites market growth. The market in the area is distinguished by well-established competitors and the application of strict environmental rules that emphasize the use of lightweight and fuel-efficient products. North America is home to most market participants in ceramic matrix composites. Key operations of other prominent aerospace firms, including Boeing, Bombardier, Airbus Group, and Lockheed Martin, are concentrated in North America.
As a result, in comparison to other regions, North America has a greater demand. In the automotive, aerospace & military, and electrical & electronics industries, there is a growth in the use of these composites. It is also predicted that prominent market players will raise their expenditures on R&D activities and expand their production capacities and product portfolios, which will fuel the growth of the North American ceramic matrix composites market.
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Recent Industry Developments:
- April 2020: Raytheon Technologies, the product of the union of United Technologies and Raytheon Company. After planned spinoffs, the merged firm, valued at over USD 100 billion, is the world's second-largest aerospace and military corporation by revenue, trailing only Boeing. The production and sales of CMC products increased as a result.
Key questions answered in this report:
- What is the size of the ceramic matrix composites market and what is its expected growth rate?
- What are the primary driving factors that push the ceramic matrix composites market forward?
- What are the ceramic matrix composites Industry's top companies?
- What are the different categories that the ceramic matrix composites Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the ceramic matrix composites market sample report and company profiles?
Report Scope:
| Report Attribute | Details |
| Market Size in 2021 | USD 8,492.40 Million |
| Projected Market Size in 2028 | USD 15628.45 Million |
| CAGR Growth Rate | 10.70% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | General Electric Company, Rolls-Royce, Axiom Materials Inc., SGL Carbon, United Technologies, 3M Company, COI Ceramics, Lancer Systems, CoorsTek, Applied Thin Films, Ultramet, CFC Carbon Co. Ltd., and Others |
| Key Segment | By Fiber Type, Matrix Type, End-use Industry, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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The global ceramic matrix composites market is segmented as follows:
By Fiber Type
- Continuous
- Woven
- Others (chopped, felt/mat, twills, and braided)
By Matrix Type
- C/C
- C/SIC
- Oxide/Oxide
- SIC/SIC
By End-use industry
- Aerospace & Defense
- Automotive
- Energy & Power
- Industrial
- Others (Electrical & Electronics, Medical, and Marine)
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Fiber Type, Matrix Type, End-use Industry, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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