Report : Ceramic Matrix Composites Market to 2027 - Global Analysis and Forecast by Product (Oxides/Oxide, Silicon Carbide/ Silicon Carbide, Carbon/ Silicon Carbide, Carbon/ Carbon); End-use Industry (Aerospace & Defense, Energy and Power, Automotive, Industrial, Others) and Geography
The “Global Ceramic Matrix Composites Market to 2027 - Analysis and Forecasts by “Product (Oxides/Oxide, Carbon/ Silicone Carbide Silicon Carbide/ Silicon Carbide, Carbon/ Carbon); End-use Industry (Aerospace & Defense, Energy And Power, Automotive, Industrial, Others)” The scope of study involves understanding on the factors responsible for this growth of ceramic matrix composites market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant ceramic matrix composites players in the market and their key developments.
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. North America accounted for the highest share in the global ceramic matrix composites market. Over the forecast period, the commercial aerospace sector is also expected to gain significant movement. Rigorous research and development activities by the United States Environmental Protection Agency (USEPA) for developing renewable energy sources are expected to create lucrative opportunities for CMC market in the region. Further, North America region has the existence of several ceramic matrix composite manufacturers such as COI Ceramics, INC. and Applied Thin Films, Inc., which are mainly focused on the adoption of various business strategies for increasing their production capacity.
The ceramic matrix composites market based on product is categorized into oxides/oxide, carbon/ silicon carbide, silicon carbide/ silicon carbide, and carbon/ carbon. The oxides/oxide segment dominated the global ceramic matrix composites market. Moreover, the silicon carbide/ silicon carbide segment is anticipated to grow at a faster pace over the projected period. The oxide ceramic matrix composites have excellent thermal and mechanical properties coupled with damage-tolerant quasi ductile fracture behavior, which has been a significant factor for its application in the high-temperature processes. Another supporting factor that has led to increasing demand for the oxide-CMC is its low weight and prolonged service lifetime. The oxide-CMC components such as changing racks, lift gates, or flame tubes have represented their potential in varied industrial high-temperature applications. The O-CMC components for gas turbines are currently being tested and developed. The oxide-CMC are light in weight due to their reduced density and mass. The increase in thermal efficiency and reduced maintenance cost have been a contributing factor to favor the oxide-CMC market all over the globe.
The global ceramic matrix composites market by geography is segmented into five regions, including North America, Europe, Asia Pacific, Middle East & Africa, and South America. The North America region is expected to account for the largest share of the global ceramic matrix composites market in 2018, followed by Europe. In addition the, US and Canada are the two key countries in the Asia Pacific region which are expected to significantly drive the ceramic matrix composites market and also expected to continue its dominance in terms of CAGR throughout the forecast period from 2019 to 2027. Some of the major players in the 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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