The global ceramic matrix composites market is driven by rapidly expanding aerospace & defense industry across various regions. These composites are being increasingly used in aircraft for applications such as gas turbine engines, turbine blades, brake disks, and brake system components owing to rising demand for lightweight aircraft. Rising air traffic and growing tourism in the developing economies such as India, China, and Thailand have increased the need for aircraft, which, in turn is driving the market growth. Furthermore, increasing spending on the military and defense equipment by various countries such as the U.S. Britain, India, and China among others to bolster the military power and is likely to provide lucrative opportunities to the global ceramic matrix composites market. Furthermore, surging demand for the electronics devices in appliances, sports goods, and semiconductors owing to strong thermal stability and high dielectric properties are propelling the market growth. Growing use of ceramic matrix composites as a substitute for metal components due to fracture toughness and damage resistance is stimulating the demand.

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Ceramic matrix composites (CMC) are ceramic matrix reinforced with short or continuous fibers or whiskers. CMC’s are reinforced with fibers to reduce brittleness and improve fracture toughness. These composites are suitable for application operating under high-temperature conditions owing to superior properties such as high stiffness, thermal stability, good insulation, and low thermal conductivity. The product finds application in various end-use industries such as aerospace & defense, automotive, electrical and electronics, and renewable energy among others. However, development of advanced ceramics to overcome the presence of brittleness in CMC’s, which may lead to catastrophic failure is likely to hamper the market growth. Moreover, the high manufacturing cost of ceramic matrix components may restrict the market growth over the assessment period, 2018-2023.

Key Players and Competition Analysis

Some of the key players in the global ceramic matrix composites market are 3M (U.S.), applied thin films inc. (U.S.), CeramTec (Germany), COI Ceramics, Inc. (U.S.), CoorsTek Inc. (U.S.), GENERAL ELECTRIC (U.S.), KYOCERA Corporation (Japan), Lancer Systems (U.S.).

Segmentation Analysis

The global ceramic matrix composites market is segmented by type, category, process, application, and region. On the basis of the type, the market is segregated into oxide/oxide, carbon/silicon carbide, silicon carbide, carbon/carbon, silicon carbide/silicon carbide, and others. Based on the category, the global market is segmented into short fibers, long (continuous) fibers, whiskers, and others. Based on the process, the market is segmented into power dispersion, liquid precursors, and gaseous infiltration. On the basis of the application, the market is segregated into aerospace, automotive, electronics, energy & power, industrial, and others.

Regional Analysis

North America was leading the global market for ceramic matrix composites owing to the expanding aerospace industry in this region. The product consumption is increasing in the U.S. as a result of rising production of aircraft in this region. According to the Aerospace Industries Association (AIA) in 2017, the U.S. Aerospace & Defense industry’s exports had been grown by 26% over the last five years to USD 143 billion.

Asia Pacific was the fastest growing region in the global ceramics matrix composites market with growing aerospace & defense industry in the developing economies of India and China. Additionally, rising demand for the electronic devices in wearable, appliances, and automobiles is likely to augment the market growth.

The Middle East and Africa market is likely to witness a moderate growth during the review period due to the growing automotive and aerospace industries. Increasing production of passenger vehicles, especially, by the PSA Groupe is estimated to propel the market growth. Browse the market data and information spread across 100 pages with 59 data tables and 15 figures of the report “ Ceramic matrix composites market growth by Application Type forecast to 2023.” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/ceramic-matrix-composites-market-6045

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