The global ceramic matrix composites market size was valued at USD 11.4 billion in 2020 and is projected to reach USD 23 billion by 2028, at a CAGR of 11% during the forecast period, 2021-2028. A ceramic matrix composite material has ceramic fibers implanted in a ceramic matrix.
Ceramic materials are non-metallic solid, inorganic, and crystalline in nature. Ceramic matrix has enhanced crack resistance and does not rupture easily under heavy weight as opposed to traditional ceramics. Growth of the automotive sector in developed countries such as India and China and increasing demand for ceramic matrix composites owning to their low weight, high friction, and temperature resistance properties are key factors responsible for the growth of the ceramic matrix composite market. The ceramic matrix is used in aircraft engines parts such as combustor liners, nozzles, and blades. Additionally, need for lightweight and fuel-efficient vehicles has increased the demand for ceramic matrix composites in the automotive industry.
Impact of Covid-19
Covid-19 pandemic has hampered the global ceramic matrix composites market. The pandemic, especially affected the market in North America and Europe. The aerospace & defense and automotive industries have faced huge losses due to the lockdown. Companies have temporary seized activities at their facilities. This has reduced the production and consumption of ceramic matrix composites across all industries globally.
The report on the global ceramic matrix composites market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes |
Details |
Report Title |
Ceramic Matrix Composites Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Composite Type (Silicon Carbide Reinforced Silicon Carbide (SIC/SIC), Carbon Reinforced Carbon (C/C), Oxide-Oxide (OX/OX), and Others (Silicon Carbide and Carbon (SIC/C)), Fiber Type (Short Fiber and Continuous Fiber), and Fiber Material (Alumina Fiber, Amorphous Ceramic Fiber (RCF), Silicon Carbide (SIC) Fiber, and Others), Applications (Aerospace & Defense, Automotive, Energy & Power, Electricals & Electronics, and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Market scope, analysis, share, competitive analysis, Divers, restraints, opportunities, and revenue forecast |
Key Players Covered in the Report |
General Electric Company, Rolls-Royce, SGL Carbon, Axiom Materials Inc., United Technologies, 3M Company, COI Ceramics, Lancer Systems, CoorsTek, Applied Thin Films, Ultramet, CFC Carbon Co., Ltd. |
On the basis of composite type, the market is segmented into silicon carbide reinforced silicon carbide, carbon reinforced carbon, and oxide-oxide. The silicon carbide reinforced segment held a major share of the market, as it is majorly used in high temperature applications, owing to its properties such as resistance to high temperature and oxidation.
Based of fiber type, the ceramic matrix composites market is bifurcated into short fiber and continuous fiber. The continuous fiber segment held a key share of the market due to the increase in use of fiber in gas turbines required in jet engines. Expansion of the aerospace & defense industry and increase in the production of military equipment in developing countries are fueling the market.
In terms of fiber material, the market is segregated into alumina fiber, refractory ceramic fiber, and SiC fiber. The SiC fiber segment accounted for a major share of the market. This fiber offers high stiffness, high temperature tolerance, low weight, and thermal expansion, and thus silicon carbide fiber (SiC fiber) is a major component in the next-generation of gas turbines.
On the basis of applications, the ceramic matrix composites market is fragmented into automotive, aerospace & defense, energy & power, and electronics. The aerospace & defense segment held a key share of the market. This fiber is utilized in aerospace & defense equipment due to its superior properties. Rise in R&D activities in aerospace & defense technology is driving the segment.
Based on region the global ceramic matrix composites market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a dominant share of the global ceramic matrix composite market due to the growth of the aerospace & defense industry. The market of North America is characterized by the presence of established players and the implementation of stringent environmental regulations emphasizing the use of lightweight and fuel-efficient materials. North America is home to major players in the market and key aerospace companies such as Boeing, Bombardier, Airbus Group, and Lockheed Martin.
Key players in the global ceramic matrix composites market include General Electric Company, Rolls-Royce, SGL Carbon, Axiom Materials Inc., United Technologies, 3M Company, COI Ceramics, Lancer Systems, CoorsTek, Applied Thin Films, Ultramet, CFC Carbon Co., Ltd. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
Recent Developments:
Key players in the global ceramic matrix composites market include General Electric Company, Rolls-Royce, SGL Carbon, Axiom Materials Inc., United Technologies, 3M Company, COI Ceramics, Lancer Systems, CoorsTek, Applied Thin Films, Ultramet, CFC Carbon Co., Ltd. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
Recent Developments:
Some other reports from this category!