Ceramic Matrix Composites Market Analysis with Size, Manufacturers, Applications and Forecast Research Report
According to a new report published by KD
Market Insights, titled, "Ceramic
matrix composites Market by
Composite Type, Fiber Type, Fiber Material, and Application: Global Opportunity
Analysis and Industry Forecast, 2019 - 2026," the global ceramic matrix
composites market was valued at US$ 4,857.6 million in 2018 and is projected to
reach US$ 11,516.1 million by 2026, growing at a CAGR of 11.4% from
2019 to 2026.
Ceramic matrix composites are considered as
materials consisting of ceramic matrix combined with a ceramic, such as oxides
and carbides, in the dispersed phase. These materials exhibit multiple physical
& mechanical properties such as high electrical conductivity and high
thermal stability. Moreover, they provide toughness and strength at high
temperatures, and thus find wide application in the aerospace & defense
industry.
In addition, rapid development of the
automotive sector across developing economies such as India and China and
increase in demand for ceramic matrix composites owing to their low weight,
high friction, and temperature-resistant properties are the key factors that
fuel the growth of the global ceramic matrix composites market. In addition,
surge in demand for lightweight and fuel-efficient vehicle has boosted the demand
for ceramic matrix composites in the automotive industry, which is expected to
drive the market growth.
Based on composite type, the market is
segmented into silicon carbide reinforced silicon carbide (SIC/SIC), carbon
reinforced carbon (C/C), and oxide–oxide (OX/OX) and others (Silicon Carbide
and Carbon (SIC/C)). Silicon carbide reinforced silicon carbide (SIC/SIC)
possesses properties such as resistance to high temperature and fracture.
Hence, it is widely used in automotive applications, such as in brake systems
of high-performance road cars, namely, brake disc and brake pads.
Depending on fiber type, the market is
categorized into short fiber and continuous fiber. Short fiber finds
application in the manufacturing of light weight automobiles owing to its
properties like high tensile and impact strength and resistance to high
temperature. In addition, continuous fiber finds application in manufacturing
of engines used in fighter jets due to its physical properties like toughness
and durability.
On the basis of fiber material, the market is segmented into alumina fibers, amorphous ceramic fibers (RCF), silicon carbide fibers (SIC) and others. Silicon carbide fibers are widely used in the manufacturing of gas turbines used in aircrafts, owing to their properties such as high stiffness, enhanced tensile strength, low weight, superior chemical resistance, increased temperature tolerance, and improved thermal expansion. In addition, these fibers are used for automobile's catalytic converters, owing to their high compressive strength and superior thermal shock resistance.
Based on application, the market is segmented
into aerospace & defense, automotive, energy & power, electricals &
electronics, and others. Ceramic matrix composites are increasingly being
utilized in electrical and electronics such as laptops, smartphones and LCD
televisions, owing to their properties such as enhanced electrical conductivity
and high thermal stability Upsurge in demand for consumer electronics globally has
led to increase in need for these composites.. In addition, development of the
automotive and aerospace & defense industries has increased the usage of
ceramic matrix composites, owing to their lightweight, high fuel efficiency,
and superior durability. All these factors together are expected to drive the
growth of ceramic matrix composites market.
Browse Full Report & TOC: https://www.kdmarketinsights.com/product/ceramic-matrix-composites-market-amr
Region wise, the market is analyzed across
North America, Europe, Asia-Pacific, and LAMEA. North America has emerged as a
global leader in ceramic matrix composites market, due to increase in demand
for lightweight and fuel-efficient automobiles from consumers. In addition,
increase in R&D activities in the field of aerospace technology and rise in
production of war machines such as fighter jets have fueled the demand for
ceramic matrix composite. These factors are anticipated to boost the growth of
the North America ceramic matrix composites market.
Key Findings of the Ceramic matrix
composites Market:
- The North America ceramic matrix composites
market share is predicted to hold a share of over 38.40% by the end of 2026.
- The continuous fiber in the fiber type segment is predicted to hold a share of over 69.35% in the global ceramic matrix composites market in terms of revenue in 2026.
- The ceramic matrix composites market trends has been analyzed across the major countries of the region.
- The continuous fiber in the fiber type segment is predicted to hold a share of over 69.35% in the global ceramic matrix composites market in terms of revenue in 2026.
- The ceramic matrix composites market trends has been analyzed across the major countries of the region.
The market players have
adopted expansion, acquisition, and collaboration as their key strategies to
gain competitive advantage in this market. The key players operating in the
ceramic matrix composites industry include Rolls-Royce Plc., Coi Ceramics INC.,
SGL Group, United Technologies, Ceramtec, Lancer Systems, Coorstek Inc.,
Applied Thin Films, Ultramet, and Composites Horizons.
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