Global Ceramic Matrix Composites Market: Overview
Ceramic-matrix composites (CMCs) as a subset of composites and ceramics have emerged as a vastly promising area for a wide array of light-weight applications displaying a spectrum of unique properties. For long, these composites have been a material of choice in the aviation industry used for making light-weight structural materials, notably efficient jet engines. Properties such as remarkably high thermal and chemical resistance, coupled with the amazing mechanical strength the class of materials has, have led to their rapid commercialization in the aerospace and defense industry. The marked thermal shock resistance and damage tolerance CMCs has led to their burgeoning application in making structures that are subject to extreme hot conditions, such as in internal engine components.
Advances in fabrication processes and relentless research into discovering cost-effective manufacturing technologies are expanding the potential of the market. Constant stride being made in material sciences will pave way for a shift in CMCs being used from high-end applications to mainstream ones. Manufacturers world over are engaged in developing less energy-intensive conversion procedures, which is expected to bring down the cost of finished products, fueling their commercialization. Furthermore, rise in investment for facilitating the manufacturing of CMCs at scale will open lucrative avenues in the market.
The global ceramic matrix composites market is projected to expand at a promising CAGR of 8.1% from 2017 to 2026. Vis-à-vis revenues generated from the global sales, the ceramic matrix composites market is anticipated to cross a valuation of US$ 6,500 million by the end of this period.
Ceramic-matrix Composites Oxides Emerging as Potentially Promising Product Type
Based on product type, the ceramic matrix composites market is segmented into carbon/carbon, SiC/SiC, oxides/oxides, and other types. Of these, the SiC/SiC is expected to account for the leading share in the global market over the forecast period. This can be attributed to the property of oxidation resistance higher than all others. However, the high cost required upfront for development processes of SiC CMC and several other expenses pertaining to their transportation and usage are crucial aspects expected to subdue the demand in the coming years. On account of these downsides, various end-use industries are increasingly led to prefer CMC oxides.
Meanwhile, carbon ceramic matrix composites is prognosticated to witness the highest growth, vis-à-vis their global sales, through 2026. The widespread uptake in making braking structural components for luxury vehicles and aircrafts is a notable factor stoking its growth.
Electrical & Electronics and Energy & Power Strong Contender for Demand for CMCs
The various end-use industries comprise aerospace and defense, automotive, energy and power, electrical and electronics, apart from the others segment. Of these, industries such as energy and power and electrical and electronics are expected to serve the dominant demand for CMCs. The remarkable thermal stability and amazing thermal conductivity CMCs exhibit make them preferable for making structural components in these end-use industries. These end-use industries will clock the leading CAGR over the assessment period.
On the other hand, industries such as automotive, aerospace, and defense, are proving to be highly lucrative for the sales of CMCs. The proliferating demand of CMCs in these end-use industries is attributed to the salient properties of exceptional load resistance, high shock resistance, and enhanced flexibility.
Asia Pacific excluding Japan (APEJ) to Hold Sway vis-à-vis Sales Growth
The key regional segments comprise North America, Europe, Latin America, Japan, Asia Pacific excluding Japan (APEJ), and the Middle East and Africa (MEA). Of these, the APEJ market is expected to lead the pack, vis-à-vis sales growth, through the assessment period. Substantial and continued advancements made in the aerospace manufacturing and the burgeoning demand for energy in various countries will push the region to the forefront. The presence of low-cost, labor-surplus economies such as India, Malaysia, Thailand, and China is a crucial aspect accounting for the lucrativeness of the region.
Manufactured by embedding refractory fibers into ceramic matrices, ceramic matrix composites seek enormous applications in various industrial sectors that include energy & environment, aerospace & defense, chemical, and mechanical. Although prospects of the ceramic matrix composites have been promising, growth is limited on the coattails of applications being confined to aforementioned sectors. However, with extensive research activities being taken for the development and application of ceramic matrix composites as a replacement for metal alloys in the “hot-zone” structures, as well as thermal interface materials for use in electronic components, future demand for ceramic matrix composites seems to be relatively positive.
Transparency Market Research has composed a valuable & insightful research analysis on the global ceramic matrix composites market, which studies developments shaping demand for ceramic matrix composites. An all-inclusive qualitative forecast has been incorporated in the report that provides an in-depth assessment on driving factors, impeding factors, opportunities and threats impacting growth of the global ceramic matrix composites market. Readers of this report are offered with holistic insights on key market developments, which are likely to pose a positive influence on expansion of the market in the foreseeable future.
The report readers can further expect exhaustive insights on all imperative dynamics guiding expansion of the ceramic matrix composites market worldwide, coupled with valuable information and thorough study on demand & supply landscape of the ceramic matrix composites market. Such intrinsic intelligence will further offer large stakeholders of ceramic matrix composites with coherent insights for making better future business decisions.
Detailed Assessment on Ceramic Matrix Composites Market
TMR’s report on the global ceramic matrix composites market offers a detailed assessment on supply chain, service provider list, raw material sourcing strategies, cost structure, and pricing analysis. The comprehensive and descriptive analysis delivered in this report can enable its readers better understand the ceramic matrix composites market’s structure, as well as the current supply-demand prospects associated with ceramic matrix composites. Cost structure in the ceramic matrix composites market has been studied in terms of procurement costs, depreciation, profit margins, and sales & marketing related investments. These market aspects are further analyzed for forecasting future growth of demand for ceramic matrix composites.
In-depth Analysis on Ceramic Matrix Composites Market’s Competition Landscape
A detailed assessment on the competition landscape of the global ceramic matrix composites market has been engulfed in the report’s concluding chapter, which offers insights on key companies partaking in the market’s growth. Business and product development strategies employed by key players are discussed in detail, along with the provision of holistic insights on key developments and advancements made by these companies. The competition tracking chapter of the report provides intelligence on key financials of the market players identified, along with data about their overall revenues as well as profit margins across a variety of product offerings.
Information rendered in this chapter is priceless for the report readers as they can analyze respective strength, weaknesses, opportunities & threats in the market. Insights offered on the market players have been compiled with the aid of an exhaustive secondary and primary research. Investor and company press releases, trade associations, and industry databases have been consulted to provide detailed company profiling.
Some weighted chapters on segmentation of the ceramic matrix composites market delivered in the report provide readers with insights on remunerative and sluggish opportunities of expansion. The comprehensive segmental analysis incorporated offers a better understanding of opportunities associated with pervasiveness of demand for ceramic matrix composites around the world, along with various factors impacting the market growth. The global market for ceramic matrix composites has been segmented by the report into end-use industries, product type, and region. The report further studies each segment and offers insights & forecast on these segments for the period between 2017 and 2026 using a comparative analysis.(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
End Use Industries
Aerospace & Defense
Energy & Power
Electrical & Electronics
Other End Use Industries