Growing demand for lightweight & high-performance materials from the aerospace and defense industry is projected to escalate the ceramic matrix composites market at a CAGR of 9.1%
Latest market study on "Global Ceramic Matrix Composites Market to 2027 - Global Analysis and Forecasts By Product (Oxides/Oxide, Carbon/ Silicon Carbide, Silicon Carbide/ Silicon Carbide, Carbon/ Carbon); End-use Industry (Aerospace & Defense, Energy, And Power, Automotive, Industrial, Others) And Geography", Ceramic Matrix Composites (CMCs) are the materials consisting of a ceramic matrix combined with ceramic oxides or carbides. Ceramic materials are inorganic and nonmetallic solids, which are crystalline. They exhibit improved crack resistance and do not rupture easily under heavy loads as compared to conventional technical ceramics. The global ceramic matrix composites market is accounted to US$ 8,560.0 Mn in 2018 and is expected to grow at a CAGR of 9.1% during the forecast period 2019 - 2027, to account to US$ 18,485.0 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Under the product segment, the oxide/oxide segment accounted for the largest share in the global ceramic matrix composites market. The oxides ceramic matrix composites are gaining increasing importance as a mainstream material alternative for the high-temperature components, mainly in the industrial, advanced energy and aerospace sectors. These materials are known to compete with other alternatives such as titanium in terms of cost-reductions. The oxide ceramic matrix composites have significant potential in the oxidation sensitive component applications. The demand for oxide ceramic matrix composites has been growing considerably in the aerospace sector for turbine engines and other high-temperature components.
CMC applications in the defense industry include helicopter rotor blades, ballistic protection plates, control surfaces, radomes, doors, and fuselages. The major growth drivers for this market include the increasing use of lightweight and high-performance materials in defense programs, as well as the growing need for lightweight materials in ballistic protection solutions. Also, properties like high-temperature performance, better wear resistance, and excellent compressive strength have increased the use of CMC for body armor in the defense industry. The implementation of Nano-technology in ballistic protection materials and a growing focus on stealth technology for military aircraft these are emerging trends with a direct impact on the dynamics for composites in the defense industry.
The market for global ceramic matrix composites is concentrated with some very well-established players. Some of the key players in the global ceramic matrix composites market include COI Ceramics, Inc., General Electric Company, Lancer Systems, SGL Carbon, Rolls-Royce Plc, CoorsTek, Inc., Applied Thin Films Inc., Ultramet, CFCCARBON CO,. LTD, and Matech, among others.
The report segments the global ceramic matrix composites market as follows:
Global Ceramic Matrix Composites Market - By Product
Global Ceramic Matrix Composites Market - By End-use Industry
Global Ceramic Matrix Composites Market - By Geography
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